Say Goodbye to the Penny and Nickel

Mint begins trial strikes in composition tests Exploring replacement metals for the Penny and Nickel.


The United States Mint began producing trial strikes in December at the Philadelphia Mint using nonsense dies to test potential compositional replacements for current circulating coinage alloys.

The test strikes were produced as part of a two-year research study seeking alternative metals to reduce production costs.

Additional trial strikes are scheduled to be conducted in February or March at the Philadelphia Mint, according to Tom Jurkowsky, director of the U.S. Mint’s Office of Public Affairs.

Jurkowsky did not disclose what possible composition alternatives are being studied, only to say that many of the alternatives being looked at as viable candidates are currently in use in other countries for coinage.

The Mint has been battling the rising costs of copper, zinc and nickel that for the past five years have kept the combined metal acquisition, production and shipping costs for the cent and 5-cent coin above face value for each coin. The U.S. Mint’s recently released annual report for Fiscal Year 2011 noted that the cost to produce the copper-plated Lincoln cent is 2.41 cents, while that for the copper-nickel Jefferson 5-cent coin is 11.18 cents.

The alternative metals study, examining all circulating coin denominations is being conducted under provisions of the Coin Modernization, Oversight and Continuity Act of 2010, signed into law by President Obama on Dec. 14, 2010. The act not only gives the Mint authority to examine new compositions for the cent and 5-cent coin, it also extends the alternative metals study to encompass all circulating coin denominations.


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[link to www.coinworld.com]

Last Edited by SHR on 07/31/2012 09:49 AM