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U.S. Coins: Implications of Changing Metal Compositions
Lori Rectanus (au)
The U.S. Mint, a bureau of the Department of the Treasury, produced about 13 billion coins in 2014. Sice 2006, metal prices have risen to where the unit costs of a penny and nickel exceed their face value. The U.S. Mint was directed to develop and evaluate the use of new metals that would reduce the costs of coin production while minimizing the impact on coin accepting equipment. Treasury is authorized to recommend coin changes based on the U.S. MintšůĽs analysis and has not yet done so. This report examines (1) what is known about potential government savings from changes to the metal composition of coins; (2) what is known about potential industry costs from changes to the metal composition of coins; and (3) how potential coin composition options could affect government savings and industry costs. Tables and figure. This is a print on demand report.
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