Lighter coins in the works as metals makeup to change

A change in the metals composition of coins in circulation in Canada, with the exception of the $1 loonie, is in the works.

The Royal Canadian Mint plans to use nickel-plated steel for the 50-cent, 25-cent, 10-cent and 5-cent pieces, and copper-plated steel for the 1-cent piece.

The changes, which the federal government believes will save about $12 million annually, will take effect Jan. 1, 1996.

The 50-cent, 25-cent and 10-cent coins are currently composed of nickel, the 5-cent coin is made of cupro-nickel and the 1-cent coin is minted from bronze. By using copper-plated steel for the penny, the Mint estimates the cost of production will drop to 0.7 cents from 1.4 cents per coin.

While the coins will be the same size and thickness and have the same finish, they will be lighter in weight, meaning operators of vending and other machines will have to make adjustments.