U.S. Pennies to be Worth Five Cents?

Z-MaxX writes: As a result of the sky-high copper prices, the U.S. one-cent coin can be worth more when melted down and sold as copper metal. New regulations against the melting down and exporting of coins have recently been passed, but Francois Velde, senior economist at the Federal Reserve Bank of Chicago, thinks these measures will not be enough. He suggests "rebasing" the penny to be worth five cents.