A small southern Ohio company and a freshman congressman say the lowly penny, ignored by many or simply tossed into drawers and jars, could mean big bucks and good jobs for a struggling region.

So when Rep. Zack Space amended a coin-composition bill to allow Jackson Metals of Jackson to melt down pre-1982 pennies, which contain more valuable copper than the current copper-plated zinc cents, the Dover Democrat proclaimed a major victory. He said it could create more than 30 jobs and save taxpayers money.

But victory is still a ways away. Opponents of the idea say that although the company might profit by selling the copper, taxpayers would be big losers.

The bill, which would authorize the U.S. Mint to change the metal composition of coins to make them cheaper to produce, is no longer on a fast track. It was to have been approved Wednesday in the House Financial Services Committee, with the blessing of bill co-author and committee Chairman Barney Frank, D-Mass. Read Full Story