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<p>[QUOTE=&quot;taurus876, post: 144930, member: 5583&quot;]Kill-the-penny bill introduced </p><p><br /></p><p>--------------------------------------------------------------------------------</p><p><br /></p><p>Citing spiraling zinc costs, Rep. Jim Kolbe continues his quest to eliminate the 1-cent piece.</p><p><br /></p><p>By Christian Zappone, CNNMoney.com staff writer</p><p>July 18 2006: 2:19 PM EDT</p><p><br /></p><p><a href="http://money.cnn.com/2006/07/18/news/penny/index.htm?cnn=yes" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://money.cnn.com/2006/07/18/news/penny/index.htm?cnn=yes" rel="nofollow">http://money.cnn.com/2006/07/18/news/penny/index.htm?cnn=yes</a></p><p><br /></p><p>NEW YORK (CNNMoney.com) -- Representative Jim Kolbe wants to do away with the penny - and for a second time has introduced legislation that would effectively kill it.</p><p><br /></p><p>The Currency Overhaul for an Industrious Nation (COIN) Act would force the rounding off of all cash transactions to the nearest 5 cents, making the penny coin useless for everyday transactions.</p><p><br /></p><p>The move is in part a reaction to the rising cost of zinc - the penny&#039;s main ingredient - which at current prices brings the cost of making the coin to 1.4 cents each.[/QUOTE]</p><p><br /></p>

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