Congressman Frank Lucas introduced House Resolution 6942 Thursday that would swap today’s Jefferson Nickel with a circulating half-dime of old.
In an article Friday, details were scarce because the Government Printing Office had not yet published the bill’s text. That is no longer the case.
H.R. 6942 is officially entitled the ‘5 cent Restoration Act of 2008.’ Interestingly, it is at the top of the brevity scale when it comes to coin legislation with fewer than a dozen sentences. At the bill’s core are three lines that state its intent:
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Oklahoma congressman Frank Lucas introduced new coin legislation Thursday that would replace the circulating Jefferson nickel with a smaller and lighter five-cent coin, once known as a half-dime. The text of the bill, H.R. 6942, has not yet been published by Government Printing Office (GPO), but insights into its intent may be gleaned from an […]
United States Mint Director Ed Moy will testify before the House Financial Services Subcommittee tomorrow, March 11. A CoinNews article Friday discussed House bill H.R. 5512. It is that bill for which Mr. Moy will testify. H.R. 5512, named the ‘Coin Modernization and Taxpayer Savings Act of 2008‘, seeks to change the composition of metals […]
The CoinNews Saturday eNewsletter and the short post Sunday morning included information about the Sunday night 60 Minutes news segment titled, Should We Make Cents?
Morley Safer reports on how the penny and nickel are worth less than the U.S. government cost to manufacture them – the penny almost two cents and the nickel almost a dime.
The largest portion of the segment, as the 60 Minutes title suggests, revolves around the various points of view on whether the government should stop making Lincoln pennies.
Why is the manufacturing cost of the 1-cent penny and 5-cent nickel up so much? United States Mint Director Ed Moy summed it up:
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The debate heated up on whether the metal composition of coins should be controlled by the U.S. Treasury and whether the ban of melting pennies for their copper content should be lifted. CoinNews.net had its own article on the topic and, like other news organizations, coin collectors and bloggers, everyone was interestingly awaiting some type […]
So says Democrat Congressman Zack Space of Ohio who’s trying to help a company within his district. The company, Jackson Metals, would melt pennies for their copper content. Helping businesses is hard to fault. But is newly proposed legislation that would benefit companies like Jackson Metals and change coinage laws the right thing to do? […]
Coin toning can intrinsically increase or decrease the value of coins. Natural coin toning can be quite beautiful. It can also be outrageously ugly. And because beauty is often times in the eye of the beholder, placing a value on a coin due to its toning can present problems. Should you pay extra or less […]
During just the first half of this year, nearly 5.4 billion pennies and almost 880 million nickels were minted. That’s a lot of change. But did you know it actually costs more to make a penny or nickel than what they’re worth? Craziness right? Well, unfortunately, it’s the truth. Since the fourth quarter of last […]
