CNN 2012-02-21

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Julian Leidman knows coins. He`s been collecting them since he was 11 years old, and he`s been dealing³ them fornearly half a century.

 

When cents were first made, this was the size of the cents.

 

He says the look in metal content of thecoins made in America have changed multiple times over the years.

 

They started in 1793. There was three different designs in 1793.

 

And now pennies, as well as nickels, couldbe set to change again as part of an effort to cut costs. In the last budget the Obama administration asked Congress for permission to change the metal makeup of pennies and nickels, because they`ve become more expensive to producethan they are worth a lot more expensive.

 

It costs 2.4 cents to make one penny, and 11.2 cents to make a nickel as of last year.

 

The reason? The rising prices of the copper, nickel and zinc⁴ that go into the coins. Since 1982, pennies have been made mostly of zinc and are merely copper plated. Nickels on the other hand,are 75 percent copper and 25 percent nickel. And at current market rates, theprice of raw materials alone is almost six cents per nickel. Add in the minting process, and it`s more than double face value.

 

Does it surprise you that it costs so much to make these coins?

 

Well, because of the raw metal, no, it doesn`t surprise me. It`s what surprises me is they haven`t found something before.

 

The U.S. mint is in the early stages of studying the issue, so it`s too soon to know what the final mix could be or just how much cost savings⁵ could be achieved.

 

But Leidman thinks both coins could bed is continued.

 

My thoughts as a coin dealer⁶ is I`d like tohave them. I`d like whatever they make them of, I`d like to have them. My thoughts as a guy on the street is get rid of them. And do the rounding.

 

This is just the latest attempt to cutcosts at the mint. The decision to stop making the presidential one-dollar coins last December is expected to save the mint $50 million a year.AthenaJones, CNN, Washington.

 

We`re going to admit we were a little confused with today`s "Before We Go" video. We know that these two are out for a walk. What we`re not sure of is if she`s walking the dog or if the dog is walking her. Maybe he thinks she just needs a little push to get going.

 

According to the guy who`s shooting this YouTube video, the upright rover refuses to put all four feet on the groundwhen he goes out for a walk. Might be a little odd, probably a little stubborn but at least she`s willing to make a stand. Whoo! All right. Now, before you giveus our walking papers, want to let you know that there`s no show on Monday in honor of President`s Day. We hope you enjoy the long weekend, and we will see you on Tuesday.

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