Foundation for Economic Education
http://www.fee.org
Commodity Price Hikes May Bring Change in Coins
Posted By admin
Further evidence that times are tough: It now costs more than a penny to make a penny. And the cost of a nickel is more than 7 cents. Surging prices for copper, zinc and nickel have some in Congress trying to bring back the steel-made pennies of World War II, and maybe using steel for nickels, as well. (USA Today [1], Wednesday)
Market-based money is better.
FEE Timely Classic
Private Coinage in America [2] by Brian Summers
Article printed from Foundation for Economic Education: http://www.fee.org
URL to article: http://www.fee.org/articles/in-brief/commodity-price-hikes-may-bring-change-in-coins/
URLs in this post:
[1] USA Today: http://www.usatoday.com/money/2008-05-06-steel-pennies_N.htm
[2] Private Coinage in America: http://www.fee.org/publications/the-freeman/article.asp?aid=5728
Click here to print.
Copyright © 2008 Foundation for Economic Education. All rights reserved.