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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: John McCarthy7/18/2006 3:23:41 PM
   of 78412
 
Zinc kills off the penny?

To: regli who wrote (53572) 7/18/2006 3:03:58 PM
From: mishedlo of 53583

The end of the penny?

_________________________________________
Kill-the-penny bill introduced
Citing spiraling zinc costs, Rep. Jim Kolbe continues his quest to eliminate the 1-cent piece.
money.cnn.com
_________________________________________

The Currency Overhaul for an Industrious Nation (COIN) Act would force the rounding off of all cash transactions to the nearest 5 cents, making the penny coin useless for everyday transactions.

The move is in part a reaction to the rising cost of zinc - the penny's main ingredient - which at current prices brings the cost of making the coin to 1.4 cents each.

posted by MISH
Message 22634378
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