major impact on coin production if it is passed. The SAVE II Act identifies
savings which can be achieved for the Federal Government by eliminating
duplication and increasing efficiency across a range of different areas. One of
these areas is the cost of producing money.
The bill would prohibit the Treasury Department from producing “non-cost
effective” coins and currency. This is defined as coins or currency which cost
more to produce than their respective denomination. While all currency is
currently produced below the respective face value, there are two denominations
of coins which produced at a cost greater than their face value. If the bill
becomes law, the US Mint would be prohibited from producing the cent and nickel
in their current format.
Article Courtesy of www.mintnews