Penny Nickel Composition Change Findings
The Coin Modernization Act of 2010 has officially announced their findings. So what is the answer?
‘We need more time.’
No news is the absolute best news as it means that we all have a lot more time to capitalize on pennies and nickels before the Government takes them in themselves.
Most intriguing is the part on the one-cent coin:
“At Present, changes to the metals formulation of the one-cent coin would not yield significant cost improvements over the current formulation because the current market price of zinc is competitive with the prices of the credible alternatives, steel and aluminum.”
What solution does this leave? Elimination of the one-cent as the only viable solution.
Buy pennies and buy nickels while you can. If supply drops to zero from a coin denomination elimination, whether you’re a bullion investor or a numismatic coin collector, prices inevitably must go up.
Read the Official US Mint News Page for the Coin Modernization Act of 2010 Findings: Official US Mint News Page for the Coin Modernization Act of 2010 Findings
Read the Official Government PDF file for the Coin Modernization Act of 2010 Findings: Coin Modernization Act 2010 Report and Findings