Why Zinc?

Yes, the cent's composition was changed in 1982 because the value of the copper in the coin started to rise above one cent. Later it returned to profitable levels.

Yes.

But this might change in the near future because they cost more than a cent to make each one.

Zinc is a LOT cheaper than copper. The cents are actually just copper plated. Just like with gold, plating is much less expensive.

Even with the big price swing downward in copper, I can't see the Mint ever going back to more than 3-5% copper in cents.

I think the reason they stayed away from steel before is it is harder to strike. I would think a copper plated steel planchet would give you less coins per die then a copper plates zinc planchet. Again, this is just my guess.

As far as the one cent coin I could never understand why they don't just change the denomination to 2 cents. Then the rounding problem goes away because the only total bills that won't be covered is $.01 and $.03. You can pay the right amount on any other total. If the total is $.07 you can use a nickel and the Two Cent Piece. I think this would be easier for the people would want to keep the cent to swallow. They will still have there coin, it would would just be worth one cent more. Then whatever industry is supplying the material for the coin will be satisfied because they won't eliminate the coin. I just think this is a better solution than either eliminating the cent or keeping it. What does everyone here think?

IMO both are poor reasons to keep the one cent piece. I guess as collectors we look at coins in a different way than what they are intended for. The basic purpose of our coinage is for commerce. As inflation goes up small denominations become obsolete. But since we are creatures of habit we hate change. I just think the above solution is the best one for commerce.

Metalman, I completely understand the opposition to a tax increase. But if the coins were Two Cents instead of one cent then this isn't an issue. The only total you can't get is $.01 and $.03. When was the last time your total bill was $.01 or $.03? All other amounts are possible so rounding is not necessary. If the change you received with the cent was $2.06 then you would now get 2 $1.00 bills and 3 $.02 coins. No sales tax must be rounded. The one cent coin is really only needed for very small purchases or one cent vending machines and you rarely run into either of these any more. As I said before, this is just my opinion.

I can't see us bringing back a Two Cent coin. If we want to save minting costs you just eliminate the one cent piece and don't replace it with anything. The cost savings of going to a Two Cent Piece would be minimal.

With the stagflation/deflation we are going to experience over the next couple years, I can't foresee any changes being made or even proposed. When inflation kicks in hard again in 2011, the whole senario will once again recurr.

My bet is the one cent piece will be gone by 2015 and not replaced. All amounts will be rounded to the nearest $0.05. By then a loaf of bread will be $10 so it won't make much difference!