Zinc passed the $1.80 mark today, that means the current "penny" has a melt value of $0.0101867. All the coins in your penny jar are worth more than their denomination (except for steel cents made during WW2).
There's been a lot of discussion lately about the elimination of the one cent piece. Jim Kolbe, the sponsor of the original bill in congress, has been mentioned several times with the Mark Foley scandal and it's unlikely his legislation will ever make it to the voting floor.
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