A new report from the U.S. Mint revealed that 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 To save money, nickels may soon have less nickel in them
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.
A new report from the U.S. Mint revealed that in 2022, 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."It's absolute non-cents that American taxpayers spend ten cents to make just one nickel," Ernst said in an email to CNBC."Only Washington could lose money making money."
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