Is the U.S. Mint Going to Change the Metal Content of the Nickel?

The current composition of the U.S. nickel is 25% nickel and 75% copper. It currently costs roughly 7 cents worth of this metal combination to make a nickel. Not a very profitable operation for the U.S. Mint. This may be change.

The United States Mint  announced on Monday that it is requesting public comment from all interested persons on factors to be considered in conducting research for alternative metallic coinage materials for the production of all circulating coins.

According to the Mint:

These factors include, but are not limited to, the effect of new metallic coinage materials on the current suppliers of coinage materials; the acceptability of new metallic coinage materials, including physical, chemical, metallurgical and technical characteristics; metallic material, fabrication, minting, and distribution costs; metallic material availability and sources of raw metals; coinability; durability; sorting, handling, packaging and vending machines; appearance; risks to the environment and public safety; resistance to counterfeiting; commercial and public acceptance; and any other factors considered to be appropriate and in the public interest.

The United States Mint is not soliciting suggestions or recommendations on specific metallic coinage materials, and any such suggestions or recommendations will not be considered at this time. The United States Mint seeks public comment only on the factors to be considered in the research and evaluation of potential new metallic coinage materials.

The Mint is a very slow bureaucratic machine, so nothing is going to happen this week, or even this year, but the day will come when the metallic content of the nickel is going to change.

In the meantime, as the Fed prints more and more money, the metal value of a nickel will continue to climb. At some point, nickels will disappear from general circulation just like the pre-1965 silver dimes and quarters have.

(Thanks2AT)