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The new copper-nickel coin was legal tender for up to one dollar and would be paid out by the Treasury in exchange for coin of the United States, excluding the half cent, cent and two-cent. It was redeemable in lots of $100 for banknotes. Fractional currency in denominations of less than ten cents was withdrawn. [19] [20]
A related debate exists for the nickel. As of 2024, nickels cost $0.1378 per coin to produce and distribute, [38] providing an argument for elimination similar to the penny's production at a loss. The current face value of a nickel is also well below that which the last remaining lowest-denomination coin (the penny) held at the time of the half ...
A quarter cost 23% more to make last year than it did in 2023; the penny cost 17% more. The U.S. Mint has been producing fewer pennies and nickels in recent years to minimize losses.
Pennies cost three times as much to make as they’re worth. Why make them at all? The U.S. spent $179 million in 2023 minting pennies and nickels, and $100 bills are increasingly meh.
This list does not include formerly-circulating gold coins, commemorative coins, or bullion coins. This list also does not include the three-cent nickel, which was largely winding down production by 1887 and has no modern equivalent.
Even if the Mint has to make only 850,000 additional nickels in 2025 to meet demand from retailers, that would wipe out the savings of eliminating the penny. If goes back up to making 1.4 million ...
Key dates for the series include the 1939-D, and 1950-D nickels. The 1939-D nickel with a mintage of 3,514,000 coins is the second lowest behind the 1950-D nickel. The cause of the key date of 1939 stems from the new design that excited collectors the year prior, after the initial hype had settled down fewer nickels were saved.
Buffalo nickels are not only nostalgic coins but also potentially worth much more than five cents to rare coin collectors. Designed by Sculptor James Earle Fraser in 1911, they were in circulation ...