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Steel coins proposed as way to reverse losses on pennies, nickels

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Washington, November 30, 2012 | comments
Making cents makes less sense than it used to.
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BUSINESS FIRST
BY DAN EATON

Making cents makes less sense than it used to.

Higher prices for the metals used to make U.S. coins have Congress considering changing the materials used in pennies and nickels. U.S. Rep. Steve Stivers and Worthington Industries Inc. executives are pushing for steel to replace the metal combinations used in those low-denomination coins accumulating in cars and jars around the country. Introduced late last year, the cheekily named Cents and Sensibility Act was scheduled to be brought before the House of Representatives’ Committee on Financial Services on Nov. 29.

“It saves America money and uses American resources,” Stivers, R-Columbus, said.

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