President Obama is proposing to make pennies and nickels cheaper to produce.
If passed, his plan would allow the Treasury Department to “change the composition of coins to more cost-effective materials.”
Why? Because it currently costs the federal government 2.4 cents to make a penny and 11.2 cents for every nickel. The special formula for making U.S. coins has stayed the same for the last 30 years. Changing that recipe could save more than $100 million a year.
Read more HERE.