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The U.S. Congress authorizes the creation of a new American coin: the five-cent piece composed of copper and “not exceeding twenty-five per centum of nickel.” The new coin was quickly nick named the "Nickel". It has been minted every year since then except for 1922, 1932, and 1933. As of 2020, it costs 7 cents to produce the 5 cents coin.
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