the government make the penny worth five cents. This change would add about $6 billion to the money supply. Congress passed the Coin Modernization, Oversight, and Continuity Act of 2010, which requires the Treasury to report on possible new metallic coin materials. In the 2014 Biennial Report, Appendix 4, the Mint reported that the previous study had "found that there was no more-cost-effective alternative material for the one-cent", and thus recommended that it continued its current mix of copper and zinc. Precedents in other countries Many countries outside the United States have chosen to remove low-value coins from circulation: Australia discontinued one-cent coins in 1990 and two-cent coins of the Australian dollar in 1989 due to the metal exceeding face value. They were fully withdrawn from circulation in 1992. Until 2012, Canada minted a one-cent coin of similar size and color as its American counterpart, with steel as the interior metal instead of zinc, though composition was near identical to US cents prior to 2000 and so it circulates at par in small quantities in the United States (and vice versa). However, on March 29, 2012, the Canadian government announced that it would eliminate the penny from its coinage system. The final Canadian penny was minted on May 4, 2012, and active distribution of the coin by the mint was discontinued on February 4, 2013. Since that date, businesses were encouraged to begin rounding cash transactions only to the nearest five-cent increment. Cheques and transactions using electronic paymentsdebit, credit and payments cardsare not rounded. Mexico's new peso transition in 1993 made the five-centavo coin the smallest denomination of the new currency. In 2009, new coins were minted only for the 10, 20 and 50 centavo denominations. New Zealand eliminated one- and two-cent coins of the New Zealand dollar in April 1990, and the five-cent coin in October 2006. At US military bases overseas, AAFES rounds up or down to the nearest one-twentieth denomination of currency. However, many nations still use coins of similar or smaller value to the United States cent. In some cases, while the nominal value of the coin may be smaller than that of a US cent, the purchasing power may be higher: South Korea stopped minting and coins, but coins (worth about ) are still minted with changing composition and used only in supermarkets. Some countries in the Eurozone use one and two-cent coins. As posted