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New Bipartisan Bill Would Let the U.S. Mint Alter the Metal Content of Coins to Save Money
A pair of senators will introduce a bill to authorize the U.S. Mint to alter the metal content of coins in order to save taxpayers money.
[Ed. Note: A U.S. nickel is now worth over 6 cents. ~KL]
by Christina Wilkie CNBC.com
WASHINGTON — A bipartisan bill to authorize the U.S. Mint to alter the metal content of coins in order to save taxpayers money will be reintroduced on Thursday, the two senators sponsoring the bill told CNBC exclusively.
The bill’s reintroduction comes just days after a new report from the U.S. Mint revealed that in 2022, soaring costs for raw metals drove the price of minting a single nickel past 10 cents, or more than double the value of the coin itself.
GOP Sen. Joni Ernst, of Iowa, and Democratic Sen. Maggie Hassan, of New Hampshire, say their legislation is designed to cut the rising expense of minting America’s quarters, dimes, nickels and pennies.