Why are some UK bronze coins now magnetic?

Question

I have noticed that some recently minted one penny coins are magnetic. Is this something to do with coin operated machines?

Answer 1

who cares?

Answer 2

Nope. Copper is too expensive. The old ones are worth more melted down for their Cu than their face value. They are putting more iron in it.

Answer 3

There is very little copper left in U.K. pennies.  As of 1992, steel has been added making them magnetic.  Some coins such as the pound are part copper and nickel.  Cheaper metals are used so the coins scrap value dosen't exceed its numeric.

Answer 4

I heard that it was nickel in them.  That's a magnetic metal too.