- Wikimedia Commons
There may be some major changes coming to the cash in your wallet, according to a report.
The Wall Street Journal reported Tuesday that US Treasury Secretary Jack Lew is considering getting rid of the penny and putting Susan B. Anthony on the $10 bill.
According to a memo from March 2015 that the Journal obtained, Secretary Lew suggested both changes to President Obama.
The move to put Anthony on the bill is a long-gestating one.
There has been a movement to get a woman on a bill for some time, but it was kicked into high gear last year when the Treasury solicited ideas from the public for a new face to the $10 note. Even before the public campaign, the bill was due for a security redesign by 2020, and all bills have to add features for the visually impaired due to a federal court ruling.
Susan B. Anthony was an advocate for the abolition of slavery, education reform, and women’s right including the right to vote.
Based on the memo, the Treasury would have continued to produce $10 bills with Hamilton on the front along with the new Anthony-adorned bill.
The penny has also endured a long campaign, but this one was to totally eliminate the coin.
A number of bills in Congress have been introduced to get rid of the coin since it actually costs more to produce than its face value. Even President Obama has expressed interest in getting rid of the penny.
Though, as the Journal noted, the elimination of the penny could be an annoyance for business owners and face the pushback of zinc producers since the penny is made of 97.5% zinc.
According to the Journal report, changes from the Treasury could be announced any day.