Penny and Nickles to be made from Steel?

Prices for copper, zinc and nickel have some in Congress proposing steel-made pennies and nickels.

Congress is pinching pennies.

It costs more than a cent to mint one and the same goes for the cost of producing nickels. It's all thanks to surging zinc, copper, and nickel prices.

So lawmakers want the mint to look at using steel for the coins. It currently costs 1.26 cents to make a penny while a nickel runs the treasury 7.7 cents.

That cost taxpayers an extra $100 million last year.