US To Stop Producing The Penny and Nickel?

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We've all got some conspiracy theories, but here is one of my own theories that seems a little more practical. Right now the US government is DRAMATICALLY increasing our money supply which is drastically hurting the lower and middle classes of this great country. With that inflation, it includes the increase of the prices of metals that are used to produce our coins. Other than the US government increasing the money supply so that major corporations can benefit first before inflation kicks in, I believe the US government is increasing the money supply to get rid of the production of the US penny and nickel.

A little history, before 1982 the penny ($0.01 USD) was made from copper, but that changed due to the price of copper increasing dramatically. Today, a copper penny has a melt value over $0.03. As a result of the price increase of copper, the US government switched the coin from being mostly copper to mostly zinc. Right now, the zinc pennies are almost going to be worth more than the what the penny is worth at face value. This is exactly what happened to the copper penny in the early 80s.

Not only is the penny facing metal values that are soon to be worth more than what it is at face-value, but the nickel is undergoing the same situation as the copper penny and now the zinc penny. The nickel is worth $0.05 USD at face value, but the melt value is ~$0.067, as of course, the coin is made of Nickel (the metal).

The US government has a vested interest in getting rid of the US penny and nickel, or at the very least, changing the metals that it uses to produce these pennies. The major benefit to getting rid of the penny and nickel completely would be saving money on its production in its entirety. Since the US government likely holds a huge amount of zinc, copper and nickel, it would be to a huge benefit to hoard these metals instead of producing coins. The alternative would be to hoard these coins and use a different metal that isn't nearly as valuable. Some say that the coins may be made of iron or even aluminum.

What do you think about this little theory. This isn't an OUTRAGEOUS theory of any sort like many other conspiracy theories. The theory seems far more practical and its not like the US government hasn't changed the type of metals before, however getting rid of the penny isn't exactly a new idea either. We've had a half-cent before and that was discontinued for good in the 1850s.



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