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<p>[QUOTE=&quot;Ardatirion, post: 2427956, member: 9204&quot;]There were always some in Congress pushing for this, but if I recall correctly it never actually was the case. This would have been a very bad thing for the economy. Before the 1860s, the US was always struggling to keep sufficient coinage in circulation to supply the markets. If a copper cent were fixed at $0.01 in copper, it would cause dramatic shortages every time the price of copper reached a level sufficient to prevent the mint from making a profit on the coins, thus preventing them from striking them and further limiting the amount of small change in circulation. </p><p><br /></p><p>For a fascinating and in depth review of the economics behind small change, check out: </p><p><br /></p><p>Carothers, N. (1930). <i>Fractional Money</i>. New York: John Wiley &amp; Sons.[/QUOTE]</p><p><br /></p>

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