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Elimination of the Penny?

Published October 7, 2004
Written by Alec Nevalainen

The value of the copper penny continues to move closer to full value, but I'm more surprised about the breakout of zinc over $0.50/lb. Conversion to a zinc-plated steel cent (similar to Canada) is a possibility for 2005, and almost a definite for 2006 if the zinc trend continues.

The last Mint annual report already noted that cent production costs were near break-even. A steel cent certainly isn't inflation-proof considering that steel has more than doubled since last year.

Anyone ready for a plastic cent? Elimination of the cent is more likely.

Alec Nevalainen

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