Several U.S. Congressmen want U.S. coins to be made with steel: Morning Report

Coin World gives you a quick look at what's going on in the world of numismatics
By , Coin World
Published : 01/30/15
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1. Steel cents sensible?

The fight against pricey production of circulating coinage continues. 

U.S. Rep. Steve Stivers (R-Ohio) has reintroduced the aptly named Cents and Sensibility Act in the U.S. House of Representatives, which aims to make U.S. steel the primary material used to strike U.S. circulating coins, according to a release posted to his website.

“This legislation is a common-sense solution to lower the cost of minting our coins,” Stivers said in a release. “Not only will it cost less to produce, but it will also allow us to use an American resource—steel—that can be manufactured right here in our backyard.”

RELATED: Cost to produce U.S. penny still more than its face value

The bill has two co-sponsors, Rep. Tim Ryan (D-Ohio) and Rep. Pat Tiberi (R-Ohio)

Pennies, nickels, dimes and quarters would all be struck with steel if the bill became law. Pennies would be dipped in copper to keep their signature color.

2. Precious metals pricing

Kitco.com listed the following prices per ounce at 8:13 a.m. ET Friday:

3. What's new on CoinWorld.com?

Tommy Thompson, the famed deep-sea treasure hunter who was arrested by U.S. Marshals this week after two years on the run, is from Columbus, Ohio. We at Coin World thought it would be interesting to see how his hometown is reporting his arrest.

Watch a pair of news reports here.

4. Yesterday's most-viewed post

Mint reveals details of 2016 gold coins to mark 1916 silver issues

5. Being social

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