The House of Representatives has endorsed a steel penny, as well as a nickel made mostly of steel, to save $1 billion over a decade. Production costs currently exceed the face value for both the penny, made of zinc and copper, and the nickel, made of copper and nickel.

The U.S. Mint opposes the bill, according to the Associated Press, because it provides too little time to make the change. Another point against the bill: Steel costs also are rising.

Here’s a better idea: As I’ve said before, we should just retire the penny, and maybe the nickel too.