Tuesday, April 18, 2006

Coining it in

The rising prices of metals such as copper and zinc could mean that our lowest denomination coins are worth more as metal than they are as coins. In the US the potential problems are more acute, because the one-cent coin is made predominantly from zinc - in the UK, our newest "coppers" are steel plated with copper. It also seems ironic that our "silver" coins contain 75% copper in an alloy with nickel.

I daresay the Mint will just re-strike all the coins affected and make them from some even cheaper metal. Alternatively, we could just round up prices in shops to the nearest 5 pence and thus eliminate all the 1p and 2p coins. The nation's wallets would certainly be lighter!


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