Nickel and Penny Removal in January?

[argentum]

The U.S. is following Canada's footsteps regarding the production of pennies and nickels. According to U.S. Treasury Secretary Tim Giethner, our U.S. Mint intends to remove the penny and nickel coins from circulation beginning early in January 2013.

http://www.wealthwire.com/news/inflation/4210

Is this legit? Anyone else seen documentation of removal in Jan 2013?

[Copper Catcher]

There is no stated source to back this up that is from the US Treasury. It is just a statement made and reported by one then reported again.

The following however was a statement made on 3/28/2012

Written Testimony of Secretary Geithner before the House Committee on Appropriations Subcommittee on Financial Services and General Government on the FY2013 Budget of the U.S. Department of the Treasury

Source: http://www.treasury.gov/press-center/pr ... g1508.aspx

The Budget also proposes legislation to provide Treasury with the ability to change the composition of coins to utilize more cost-effective materials. Currently, the costs of making the penny and the nickel are more than twice the face value of each of those coins. In addition to this proposal, Treasury is implementing measures to improve the efficiency of coin and currency production, including improved manufacturing practices and administrative cost reductions, which will save more than $75 million in FY 2013.


Nothing was said about phasing out the coins....

[uthminsta]

Could this be merged with
viewtopic.php?f=7&t=19623
Please?