Copper at all time high - Penny affected

SAN FRANCISCO (MarketWatch) -- Copper prices touched a lifetime high Friday above $1.90 a pound on supply concerns, platinum hit a 26-year peak and gold futures marked a five-session climb to close 2.5% higher for the week.

The rising price of copper finally took its toll on the Lincoln cent in 1982. The composition in 1982 was changed to an alloy of 99.2 percent zinc and 0.8 percent copper, plated by pure copper - making the total composition 97.5 percent zinc and 2.5 percent copper.

Citing the rise in copper prices, the Bush administration today suggested that "Zinc cannot be far behind the other precious metals" and that most folks are annoyed by Pennies anyway. "They keep them in jars." This helps the economy by, in effect, retiring that money, though sometimes those jars are taken to banks or coin aggregator automation machines in supermarkets where they are put back in circulation.

For 2006, the Treasury Department has proposed a New Penny to be made completely of Soy protein polymer. Over time, when exposed to air, it would disintegrate to a harmless grey fiber. "This will stop Penny hoarding and strengthen our economy at the same time," said a spokesperson.

"As a further benefit, the New Soy Penny will be edible. Said the spokesperson, "This will allow those less fortunate to actually get a wholesome fiber packed meal for about a dollar. That will help the economy, help keep America healthy... and regular too. It's a win-win-win."

Production of the New Penny will be subcontracted to the Haliburton Companies.