5% zinc material. Mentioned, as opposition to this bill, is Tennessee who is rich in raw zinc. Representative Kolbe’s idea is to make the nickel the country’s lowest denomination coin.Interesting enough Kolbe’s state of Arizona is rich in copper, which makes up most of the higher denominational coins. Keep in mind zinc manufacturing is not solely dependent upon penny manufacturing. The fact that this issue is being used to negate this bill is invalid because of this exact reasoning. Moreover, The proposition would gradually eliminate manufacturing instead of suddenly stopping production.
This gives time for manufacturing companies to find other means of work besides the penny. It is understood from the proposition that prices would be altered rounding to the nearest nickel’s place.The study shows that if a person’s time is worth $15 an hour (which we all know it’s worth less than that, but that’s a different story) a person would be losing close to $60 per year. The penny will always be a crucial statement in our nation’s history yet we must keep our mind set on the future. In the words of Bob Dylan, “ Times are a changing. ” It is a better economical strategy to gradually eliminate the penny from circular use. From this reasoning I affirm Jim Kolbe’s proposition to eliminate the penny.