Daily Archives: March 7, 2008

The cost to manufacture pennies and nickels exceeds their face value. A newly introduced House bill would change the metal composition in coins to make them profitable again.

The newly introduced bill is not a new concept. A similar bill received attention late last year. The 'Coin Modernization and Taxpayer Savings Act of 2007' failed to get through the gates when a mini firestorm erupted. Mostly because the bill contained more than what its name implied - a provision that would allow citizens to melt pennies.

That portion of the bill proved to be controversial. Why? The U.S. Treasury implemented a ban on melting 1-cent and 5-cent coins that went into effect just months earlier with a stated objective to save money.

IRVINE, Calif. – Bowers and Merena Auctions, America's leading rare coin auction house, delighted World coin enthusiasts in Baltimore and across the globe on March 1 with an action-packed special session of World/Ancient Coins as part of their first of three Official Auctions of the Baltimore Coin and Currency Convention for 2008.

The World session was the grand finale of the four-session auction that realized a total of $9,764,934 and saw more than 3,200 lots cross the auction block. The World/Ancient session realized 2,155,414.

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