Appropriate funds to US Mint to redeem all pennies in circulation to be melted down & minted into commemorative coins to celebrate the 150th and 50th Anniversaries of Abraham Lincoln’s Emancipation Proclamation and Martin Luther King Jr.’s “I Have a Dream” speech respectively.
- Coins will be of positive seigniorage (value > cost to produce & distribute)
- Funds from sale of coins will be used to offset costs of redemption, minting & distribution (Revenue Neutral)
- All additional funds will be used to pay down National Debt
- Production of pennies costs US Taxpayers tens of millions of dollars annually
- Many countries have successfully eliminated single-unit coins
- US stopped production of half-cent coins in 1857
Let’s unite in honoring two champions of freedom, Honest Abe & MLK Jr.