Metal Composition Management and Copper Extracting from Pennies May Face Changes

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Published by abc on November 16th, 2007 in ,
us_treasury_logoA hot debate was to take place on the fact that the U.S. Treasury should be the one to control the level of metal composition in coins and whether the ban of extracting copper from the melting pennies should be lifted.

 

Several additional debates were to take place in House Committee on Financial Services regarding the same matter.

 

Congressman Barny Frank, the chairman of the House, together with a co-sponsor of the newest bill, which has made national news headlines, could have expressed their opinion at a hearing that was scheduled for November 8.

 

The hearing seemed to be turn into an interesting event, housing witnesses, with testimony and with two panels. The latter were set up, having frontage on Domestic and International Monetary Policy Subcommittee. The event's participants were to include:

 

Panel 1

  • The Honorable Edmund C. Moy, Director, United States Mint
  • Ms. Louise L. Roseman, Director, Division of Reserve Bank Operations and Payment, Board of Governors of the Federal Reserve System

Panel 2

  • Mr. Walter Luhrman, President, Jackson Metals LLC
  • Mr. James Mulroney, Director of Coin Services, Brink’s Inc.
  • Mr. Tom Baker, Vice President of Marketing and Sales, Olin Brass

Unfortunately the event was postponed and there still has not been any announcement regarding the rescheduled date and time.


 

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