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Penny (United States coin)

The cent, the United States of America one-cent coin (symbol: ¢), often called the "penny", is a unit of currency equaling one one-hundredth of a United States of America dollar. It has been the lowest face-value physical unit of U.S. currency since the abolition of the half-cent in 1857 (the abstract mill, which has never been minted, equal to a tenth of a cent, continues to see limited use in the fields of taxation and finance). The first U.S. cent was produced in 1787, and the cent has been issued primarily as a copper or copper-plated coin throughout its history. Due to inflation, pennies have lost virtually all their purchasing power and are often viewed as an expensive burden to businesses, banks, government (especially mints) and the public in general.

Cent
United States of America
Value0.01 U.S. Dollar
Mass(1982-present) 2.5 g (0.08 troy oz)
Diameter19.05 mm (0.75 in)
Thickness1.52 mm (0.0598 in)
EdgePlain
Composition(1982–present) copper-plated zinc
97.5% Zn, 2.5% Cu
Years of minting1793–1814, 1816–present
Catalog number
Obverse
DesignAbraham Lincoln
DesignerVictor D. Brenner
Design date1909 (modified since)
Reverse
DesignUnion Shield
DesignerLyndall Bass
Design date2010–present

The penny is issued in its current form as the Lincoln cent, with its obverse featuring the profile of President Abraham Lincoln since 1909, the centennial of his birth. From 1959 (the sesquicentennial of Lincoln's birth) to 2008, the reverse featured the Lincoln Memorial. Four different reverse designs in 2009 honored Lincoln's 200th birthday and a new, "permanent" reverse – the Union Shield – was introduced in 2010. The coin is 0.75 inches (19.05 mm) in diameter and 0.0598 inches (1.52 mm) in thickness. The current copper-plated zinc cent issued since 1982 weighs 2.5 grams, while the previous 95% copper cent still found in circulation weighed 3.11 g (see further below).

The U.S. Mint's official name for the coin is "cent"[1] and the U.S. Treasury's official name is "one cent piece".[2] The colloquial term penny derives from the British coin of the same name, which occupies a similar place in the British system. Pennies is the plural form (not to be confused with pence, which refers to the unit of currency).

In the early 2010s, the price of metal used to make pennies rose to a noticeable cost to the mint which peaked at more than 2¢, a negative seigniorage, for the $0.01 face-value coin. This pushed the mint to look for alternative metals again for the coin, and also brought the debate about eliminating the coin into more focus. As of 2022 there are no firm plans to do so.[3]

History of composition edit

The composition of the penny has varied over time:[4][5]

Years Material Weight
(grains)
Weight
(grams)
1793–1795 ~100% copper 208 grains 13.48
1795–1857 † ~100% copper 168 grains 10.89
1856–1864 88% copper, 12% nickel (also known as NS-12) 72 grains 4.67
1864–1942 bronze (95% copper, 5% tin and zinc) 48 grains 3.11
1943 zinc-coated steel (also known as 1943 steel cent) 42 grains 2.72
1944–1946 gilding metal (95% copper, 5% zinc) 48 grains 3.11
1947–1962 bronze (95% copper, 5% tin and zinc) 48 grains 3.11
1962 – September 1982 gilding metal (95% copper, 5% zinc) 48 grains 3.11
October 1982 – present copper-plated zinc (97.5% zinc, 2.5% copper) 38.6 grains 2.5

The isotope composition of early coins spanning the period 1828 to 1843 reflects the copper from Cornish ores from England, while coins after 1850 reflect the Keweenaw Peninsula, Michigan ores, a finding consistent with historical records.[6]

In 1943, at the peak of World War II, zinc-coated steel cents were made for a short time because of war demands for copper. A few copper cents from 1943 were produced from 1942 planchets remaining in the bins. Similarly, some 1944 steel cents have been confirmed. From 1944 to 1946, salvaged ammunition shells made their way into the minting process, and it was not uncommon to see coins featuring streaks of brass or having a considerably darker finish than other issues.

During the early 1970s, the price of copper rose to the point where the cent contained almost one cent's worth of copper. This led the Mint to test alternative metals, including aluminum and bronze-clad steel. Aluminum was chosen, and over 1.5 million samples of the 1974 aluminum cent were struck before ultimately being rejected.

The cent's composition was changed in 1982 because the value of the copper in the coin started to rise above one cent.[7] Some 1982 cents used the 97.5% zinc composition, while others used the 95% copper composition. With the exception of 2009 bicentennial cents minted specifically for collectors, United States cents minted after 1982 have been zinc with copper plating. The bronze and copper cents can be distinguished from the newer zinc cents by dropping the coins on a solid surface, or by flipping them in the air with your thumb. The predominantly zinc coins make a lower-pitched "clunk" when hitting the surface, and make no sound when flipped in the air; while the copper coins produce a higher-pitched ringing sound.[8] In addition, a full 50-cent roll of pre-1982/3 coins weighs 5.4 oz (150 g) compared to a post-1982–83 roll which weighs 4.4 oz (120 g).

Designs edit

The coin has gone through several designs over its two-hundred-year time frame. Until 1857 it was about the size of the current U.S. dollar coins (Susan B. Anthony through present dollars). Shown below are the different cent designs that have been produced; mintage figures can be found at United States cent mintage figures.

Large cents:

Small cents:

Throughout its history, the Lincoln cent has featured several typefaces for the date, but most of the digits have been old-style numerals, except with the 4 and 8 neither ascending nor descending. The only significant divergence is that the small 3 was non-descending (the same size as a 0, 1, or 2) in the early history, before switching to a descending, large 3 for the year 1934 and then permanently (as of 2014) in 1943. Similarly, the digit 5 was small and non-descending up to 1945.

Lincoln cent edit

The Lincoln cent is the current one-cent coin of the U.S. It was adopted in 1909 (which would have been Lincoln's 100th birthday), replacing the Indian Head cent. Its reverse was changed in 1959 from a wheat-stalks design to a design which includes the Lincoln Memorial (to commemorate Lincoln's sesquicentennial) and was replaced again in 2009 with four new designs to commemorate Lincoln's bicentennial. There are more one-cent coins produced than any other denomination, which makes the Lincoln cent a familiar item. In its lifespan, this coin has weathered both world wars, one of which temporarily changed its composition as part of the war effort. The obverse design is the longest produced for any circulating American coin.

History edit

 
A collection of Lincoln cents from 1941 to 1974. Nearly complete set in a folder. Also features two error coins.
Reverses of the Lincoln cent
 
Wheat (1909–1958)
 
Lincoln Memorial (1959–2008)
 
Formative Years in Indiana (Lincoln Bicentennial, 2009)

When the Lincoln one-cent coin made its initial appearance in 1909, it marked a radical departure from the accepted styling of United States coinage, as it was the first regular coin to bear a portrait other than the mythical Liberty which appeared on most pre-1909 regular coins. Previously, a strong feeling had prevailed against using portraits on coins in the United States, but public sentiment stemming from the 100th anniversary celebration of Abraham Lincoln's birth proved stronger than the long-standing tradition.

A variety of privately minted tokens bearing Lincoln's image circulated as one-cent pieces during Lincoln's presidency; legitimate coinage had become scarce during the Civil War. These early tokens undoubtedly influenced the denomination, appearance, size, and composition of Lincoln cents.

Theodore Roosevelt, the 26th U.S. president, thought American coins were so common and uninspiring that he attempted to get the motto "In God We Trust" removed as offending religion. Roosevelt had the opportunity to pose for a young Lithuanian-born Jew, Victor David Brenner, who, since arriving nineteen years earlier in the United States had become one of the nation's premier medalists. Roosevelt had learned of Brenner's talents in a settlement house on New York City's Lower East Side and was immediately impressed with a bas-relief that Brenner had made of Lincoln, based on a Mathew Brady photograph. Roosevelt, who considered Lincoln the savior of the Union and the greatest Republican president, and who also considered himself Lincoln's political heir, ordered the new Lincoln cent to be based on Brenner's work and to be released just in time to commemorate Lincoln's 100th birthday in 1909. The likeness of President Lincoln on the obverse of the coin is an adaptation of a plaque Brenner created several years earlier which had come to the attention of President Roosevelt in New York.[10]

In addition to the prescribed elements on U.S. coins—LIBERTY and the date—the motto In God We Trust appeared for the first time on a coin of this denomination. The United States Congress passed the Act of March 3, 1865, authorizing the use of this motto on U.S. coins,[11] during Lincoln's tenure in office.

Even though no legislation was required for the new design, approval of the Secretary of the Treasury was necessary to make the change. Franklin MacVeagh gave his approval on July 14, 1909, and not quite three weeks later, on August 2, the new coin was released to the public.

In 1918, after the controversy over Brenner's name and initials on the reverse had died down, his initials were placed on the obverse with no further controversy. They are to be found in minute form on the rim of the bust, just under the shoulder of Lincoln.

Wheat cent (1909–1958) edit

A study of three potential reverses resulted in the approval of a very simple design bearing two wheatheads in memorial style. Between these, in the center of the coin, are the denomination and UNITED STATES OF AMERICA, while curving around the upper border is the national motto, E Pluribus Unum, Latin for "Out of Many, One".

The original model bore Brenner's name on the reverse, curving along the rim below UNITED STATES OF AMERICA. Before the coins were issued, however, the initials "VDB" were substituted because officials at the United States Mint felt the name was too prominent. After the coin was released, many protested that even the initials were conspicuous and detracted from the design. Because the coin was in great demand, and because to make a change would have required halting production, the decision was made to eliminate the initials entirely.

Thus in 1909 the U.S. had six different cents: the 1909 and 1909-S Indian Head cents, and four Lincoln coins: 1909 VDB, 1909-S VDB, 1909 and 1909-S. In all cases the Philadelphia mintages far exceeded the San Francisco issues. While the smallest mintage is the '09-S Indian, the '09-S VDB is the key Lincoln date, and hence is most valuable. Its mintage of 484,000 is only 1.7% of the plain V.D.B.

Lincoln Memorial cent (1959–2008) edit

 
Detail of reverse showing Lincoln statue inside the memorial

On February 12, 1959, a revised reverse design was introduced as part of the 150th anniversary of Lincoln's birth. No formal competition was held. Frank Gasparro, then Assistant Engraver at the Philadelphia Mint, prepared the winning entry, selected from a group of 23 models that the engraving staff at the Mint had been asked to present for consideration. Again, only the approval of the Secretary of the Treasury was necessary to make the change because the design had been in use for more than the required 25 years. The imposing marble Lincoln Memorial provides the central motif, with the legends E Pluribus Unum and UNITED STATES OF AMERICA completing the design, together with the denomination. The initials "FG" appear on the right, near the shrubbery. This series is noteworthy for having the image of Abraham Lincoln both on the obverse and reverse, as his likeness can be discerned at the center of the memorial on the reverse.

Lincoln Bicentennial cents (2009) edit

The Presidential $1 Coin Act of 2005 required that the cent's reverse be redesigned in 2009. This resulted in the mintage of four different coins showing scenes from Abraham Lincoln's life in honor of the bicentennial of his birth.

These four designs, unveiled September 22, 2008, at a ceremony held at the Lincoln Memorial on the National Mall in Washington, D.C., are:

  • Birth and early childhood in Kentucky: this design features a log cabin and Lincoln's birth year 1809. It was designed by Richard Masters and sculpted by Jim Licaretz. This cent was released into circulation on Lincoln's 200th birthday, February 12, 2009, at a special ceremony at LaRue County High School in Hodgenville, Kentucky, Lincoln's birthplace.[12] The mintage was extremely low compared to prior years (see Lincoln cent mintage figures). It has been nicknamed the "Log Cabin Penny".
  • Formative years in Indiana: this design features a young Lincoln reading while taking a break from rail splitting. It was designed and sculpted by Charles Vickers. Nicknamed the "Indiana Penny", it was released on May 14, 2009.[13]
  • Professional life in Illinois: this design features a young professional Lincoln standing before the Illinois State Capitol, in Springfield. It was designed by Joel Iskowitz and sculpted by Don Everhart. Nicknamed the "Illinois Penny", it was released on August 13, 2009.[13]
  • Presidency in Washington, D.C.: this design features the half-completed Capitol dome. It was designed by Susan Gamble and sculpted by Joseph Menna. This fourth cent was released to the public on November 12, 2009.[13] U.S. Mint released collector's sets containing this design in copper prior to the public launch of this design in zinc.

Special 2009 cents struck for sale in sets to collectors had the metallic copper content of cents minted in 1909 (95% copper, 5% tin and zinc).[14] Those struck for circulation retained the normal composition of a zinc core coated with copper.

Union shield cent (2010–present) edit

The 2005 act that authorized the redesign for the Bicentennial stated that another redesigned reverse for the Lincoln cent will be minted which "shall bear an image emblematic of President Lincoln's preservation of the United States of America as a single and united country".[15] Eighteen designs were proposed for the reverse of the 2010 cent.[16] On April 16, 2009, the Commission of Fine Arts (CFA) met and selected a design that showed 13 wheat sheaves bound together with a ring symbolizing American unity as one nation.[17] Later this design was withdrawn because it was similar to coinage issued in Germany in the 1920s.[18] The Citizens Coinage Advisory Committee later met and chose a design showing a Union shield with ONE CENT superimposed in a scroll; E Pluribus Unum was also depicted in the upper portion of the shield.[18][18] In June 2009 the CFA met again and chose a design featuring a modern rendition of the American flag.[19] As a part of the release ceremony for the last of the 2009 cents on November 12, the design for the 2010 cent was announced.[20] The design chosen was the one that was chosen earlier by the CCAC.[20] According to the Mint, the 13 stripes on the shield "represent the states joined in one compact union to support the Federal government, represented by the horizontal bar above".[21] The Mint also noted that a shield was commonly used in paintings in the Capitol hallways painted by Constantino Brumidi, an artist in the Capitol active during the Lincoln Presidency.[21] The obverse of the cent was also changed to a modern rendition of Brenner's design.[22][20] The new Union Shield design replaces the Lincoln memorial in use since 1959.[20] The coin was designed by artist Lyndall Bass and sculpted by U.S. Mint sculptor-engraver Joseph Menna.[23] In January 2010, the coins were released early in Puerto Rico;[24] this was caused by a shortage of 2009-dated pennies on the island.[22] The new design was released at a ceremony at the Abraham Lincoln Presidential Library in Springfield, Illinois on February 11, 2010.[25] In 2017, cents minted in Philadelphia were struck with a "P" mintmark to celebrate the 225th anniversary of the U.S. Mint. 2017 is the only year that Philadelphia cents have had a mintmark.[26] In 2019, the United States Mint, the West Point Mint minted pennies marked with a "W" mintmark which was only available with proof sets, wrapped separately from the proof set in its own United States Mint plastic wrap.[27]


Criticism of continued use edit

Proposals to eliminate edit

It has been suggested that the penny should be eliminated as a unit of currency for several reasons. For example, many Americans do not actually spend pennies, but rather only receive them in change at stores and proceed to return them to a bank for higher denomination currencies, or cash them in at coin counting kiosks. Most modern vending machines do not accept pennies, further diminishing their utility. Businesses in the United States are also under no obligation, due to new regulations, to accept pennies as payment. In addition, the production cost now exceeds the face value of the coin, caused by increasing inflation.[28] In 2001 and 2006, for example, United States Representative Jim Kolbe (R) of Arizona introduced bills which would have stopped production of pennies (in 2001, the Legal Tender Modernization Act, and in 2006, the Currency Overhaul for an Industrious Nation [COIN] Act).[29]

In anticipation of the business of melting down U.S. pennies and U.S. nickels for profit, the U.S. Mint, which is a part of the US Department of the Treasury, implemented new regulations[30] on December 14, 2006, which criminalize the melting of pennies and nickels and place limits on export of the coins. Violators can be punished with a fine of up to $10,000 USD, imprisoned for a maximum of five years, or both.[31]

Metal content and manufacturing costs edit

The price of metal drives the cost to manufacture a cent. The Secretary of the Treasury has authority to alter the percentage of copper and zinc in the one-cent coin if needed due to cost fluctuations.[32] For years, the Mint's production and shipping costs for cents have exceeded the face value of the coin (the Mint's fixed costs and overhead, however, are absorbed by other circulating coins).[33] As a result, the U.S. Treasury loses tens of millions of dollars every year producing cents. For example, the loss in 2013 was $55 million.[34]

Cost to manufacture and distribute a penny, in cents
Fiscal year 2010 [32] 2011 2012[35] 2013 [34] 2014 [36] 2015 [37] 2016 [38] 2017 2018 [39] 2019 [40] 2022 [41]
Cost (cents) 1.79 2.41 2.00 1.83 1.70 1.67 1.50 1.82 2.06 1.99 2.72

When copper reached a record high in February 2011,[42] the melt value of a 95% copper cent was more than three times its face value. As of January 21, 2014, a pre-1982 cent contained 2.203 cents' worth of copper and zinc, making it an attractive target for melting by people wanting to sell the metals for profit. In comparison, post-1982 copper-plated zinc cents have a metallurgical value of only 0.552 cent.[43]

Toxicity edit

Zinc, a major component of U.S. cents minted after mid-1982, is toxic in large quantities. Swallowing such a coin, which is 97.5% zinc, can cause damage to the stomach lining because of the high solubility of the zinc ion in the acidic stomach.[44] Coins are the most commonly ingested foreign body in children but generally are allowed to pass spontaneously unless the patient is symptomatic.[45] Zinc toxicity, mostly in the form of the ingestion of U.S. pennies minted after 1982, is commonly fatal in dogs where it causes a severe hemolytic anemia.[46] It is also highly toxic in pet parrots and can often be fatal.[47]

See also edit

References edit

  1. ^ . Washington, D.C.: United States Mint. Archived from the original on November 11, 2009. Retrieved November 9, 2009. Denomination:Cent; Nickel; Dime; Quarter Dollar.... (categories across the top of the specifications chart)
  2. ^ "Denominations". Washington, D.C.: United States Department of the Treasury. from the original on March 17, 2015. Retrieved March 3, 2015. The proper term is "one cent piece," but in common usage this coins is often referred to as a penny or cent.
  3. ^ Nicks, Denver (April 20, 2016). "Even the U.S. Treasury Secretary Wants to Scrap the Penny". Money.com. from the original on August 5, 2020. Retrieved April 24, 2018.
  4. ^ "Coin Specifications". September 20, 2016. from the original on May 6, 2022. Retrieved March 23, 2019.
  5. ^ U.S. Mint (September 3, 2019). "Coin Production". from the original on December 18, 2020. Retrieved December 20, 2020.
  6. ^ Mathur, R (2009). "The history of the United States cent revealed through copper isotope fractionation". Journal of Archaeological Science. 36 (2): 430–433. doi:10.1016/j.jas.2008.09.029.
  7. ^ Meridith, Stephanie (February 1, 2022). "Historic Coin Production". United States Mint. United States Mint. from the original on June 18, 2023. Retrieved September 20, 2023.
  8. ^ . Archived from the original on July 7, 2011. Retrieved June 16, 2008.
  9. ^ "The United States Mint Coins and Medals Program". USMint.gov. from the original on March 4, 2010. Retrieved December 27, 2010.
  10. ^ Margolick, David (February 11, 2007). "Penny Foolish". The New York Times. from the original on April 2, 2019. Retrieved May 22, 2010.
  11. ^ "History of 'In God We Trust'". treasury.gov. from the original on January 17, 2012. Retrieved April 29, 2016.
  12. ^ Kocher, Greg (February 13, 2009). "Lincoln's birthplace is launch site for new penny". Lexington Herald-Leader. from the original on February 17, 2009. Retrieved November 26, 2009.
  13. ^ a b c O'Keefe, Ed (February 17, 2009). "Heads Abe, Tails New On Pennies Marking Lincoln Bicentennial". The Washington Post. p. A11. from the original on June 4, 2011. Retrieved August 22, 2017.
  14. ^ "U.S. Mint Online Product Catalog". Catalog.usmint.gov. from the original on July 27, 2011. Retrieved July 20, 2011.
  15. ^ Pub. L.Tooltip Public Law (United States) 109–145 (text) (PDF), 119 Stat. 2674, enacted December 22, 2005 – Presidential $1 Coin Act of 2005, Title VI, §303. "The design on the reverse of the 1-cent coins issued after December 31, 2009, shall bear an image emblematic of President Lincoln's preservation of United States of America as a single and united country." Retrieved November 30, 2009.
  16. ^ Staff (June 9, 2009). . 2010 Lincoln Cents. Archived from the original on November 25, 2009. Retrieved November 30, 2009. There were initially 18 design proposals for the 2010 Lincoln Cent reverse.
  17. ^ McAllister, Bill (May 4, 2009). "Wheat Design may appear on the 2010 cent". Coin World. 50 (2560): 1.
  18. ^ a b c McAllister, Bill (May 18, 2009). "Mint withdraws 2010 'Wheat' cent design". Coin World. 50 (2562): 1.
  19. ^ McAllister, Bill (May 18, 2009). "Commission votes for U.S. flag on 2010 1¢". Coin World. 50 (2565): 1.
  20. ^ a b c d Gilkes, Paul (November 30, 2009). "Cent to bear Union Shield design in 2010". Coin World. 50 (2590): 1, 68.
  21. ^ a b "United States Mint Releases Fourth 2009 Lincoln Bicentennial One-Cent Coin" (Press release). United States Mint. November 12, 2009. from the original on January 6, 2010. Retrieved November 30, 2009.
  22. ^ a b Gilkes, Paul (February 15, 2010). "Mint Returns to 1909 Galvano for Portrait". Coin World. 51 (2601): 1, 24.
  23. ^ "United States Mint Launches 2010 Lincoln One-Cent Coin" (Press release). United States Mint. February 11, 2010. from the original on February 16, 2010. Retrieved February 11, 2010. The reverse of the 2010 and beyond Lincoln cent was designed by United States Mint Artistic Infusion Program Associate Designer Lyndall Bass and executed by United States Mint Sculptor-Engraver Joseph Menna.
  24. ^ Gilkes, Paul (February 8, 2010). "First Circulation Reports of 2010 Cents From Puerto Rico". Coin World. 51 (2600): 5.
  25. ^ Ruston, Bruce (February 11, 2010). . State Journal-Register. Archived from the original on February 14, 2010. Retrieved February 11, 2010. The newest—and for now permanent—version of the Lincoln penny was unveiled this morning at the Abraham Lincoln Presidential Museum...{{cite news}}: CS1 maint: bot: original URL status unknown (link)
  26. ^ McMorrow-Hernandez, Joshua (January 16, 2017). "Philadelphia Mint Quietly Releases 2017-P Lincoln Cent". coinweek.com. from the original on June 7, 2019. Retrieved June 4, 2018.
  27. ^ "United States Mint Proof Set | U.S. Mint". www.usmint.gov. from the original on March 31, 2022. Retrieved March 31, 2022.
  28. ^ Hagenbaugh, Barbara (May 9, 2006). "Coins cost more to make than face value". USA Today. from the original on March 7, 2009. Retrieved October 4, 2006.
  29. ^ Zappone, Christian (July 18, 2006). "Kill-the-penny bill introduced". CNN. from the original on July 28, 2019. Retrieved July 28, 2019.
  30. ^ "United States Mint Moves to Limit Exportation & Melting of Coins". Usmint.gov. from the original on July 8, 2018. Retrieved July 20, 2011.
  31. ^ "CFR 2010 title31 vol1 part82" (PDF). U.S. Government Printing Office. (PDF) from the original on September 30, 2015. Retrieved January 5, 2013.
  32. ^ a b United States Mint (December 4, 2010). "U.S. Mint 2010 Annual Report" (PDF). (PDF) from the original on May 14, 2011. Retrieved January 16, 2011.
  33. ^ Staff (April 17, 2012). "Statement of Rodney J. Bosco Navigant Consulting, Inc. on "The Future of Money: Coin Production"" Before the House Financial Services Subcommittee on Domestic Policy & Technology United States House of Representatives – April 17, 2012" (PDF). U.S. Congress. (PDF) from the original on September 16, 2012. Retrieved September 10, 2012.
  34. ^ a b "US Mint Cost To Make Penny and Nickel Declines in FY 2013". January 20, 2014. from the original on April 28, 2019. Retrieved January 21, 2014.
  35. ^ Unser, Mike (May 24, 2019). "Penny Costs 2.06 Cents to Make in 2018, Nickel Costs 7.53 Cents; US Mint Realizes $321.1M in Seigniorage". Coin News. from the original on July 12, 2020. Retrieved July 11, 2020.
  36. ^ "About | U.S. Mint" (PDF). Usmint.gov. (PDF) from the original on April 14, 2017. Retrieved April 24, 2018.
  37. ^ "US Mint Cost To Make Penny". from the original on August 12, 2015. Retrieved June 30, 2015.
  38. ^ Unser, Mike (February 21, 2017). "Penny Costs 1.5 Cents to Make in 2016, Nickel Costs 6.32 Cents; US Mint Realizes $578.7M in Seigniorage". Coin News. from the original on July 13, 2020. Retrieved July 11, 2020.
  39. ^ Unser, Mike (May 24, 2019). "Penny Costs 2.06 Cents to Make in 2018, Nickel Costs 7.53 Cents; US Mint Realizes $321.1M in Seigniorage". Coin News. from the original on July 12, 2020. Retrieved July 11, 2020.
  40. ^ Unser, Mike (February 7, 2020). "Penny Costs 1.99 Cents to Make in 2019, Nickel Costs 7.62 Cents; US Mint Realizes $318.3M in Seigniorage". Coin News. from the original on July 12, 2020. Retrieved July 11, 2020.
  41. ^ 2022 Biennial Report to Congress as Required by the Coin Modernization, Oversight, and Continuity Act of 2010 (Public Law 111-302) (PDF) (Report). April 2023.
  42. ^ "METALS-Copper falls on euro zone disappointment, China worry". Reuters. August 20, 2012. from the original on December 7, 2018. Retrieved November 18, 2012.
  43. ^ "Current Melt Value Of Coins – How Much Is Your Coin Worth?". Coinflation.com. from the original on June 17, 2016. Retrieved January 21, 2014.
  44. ^ Dawn N. Bothwell, M.D., and Eric A. Mair, M.D., FAAP. "Chronic Ingestion of a Zinc-Based Penny", Pediatrics Vol. 111, No. March 3, 2003, pp. 689–691. Retrieved April 17, 2008.
  45. ^ Mark L. Waltzman, M.D. "Management of esophageal coins" Current Opinion in Pediatrics Vol. 45, No. Jan 1–Feb 2006, pp.71–3. Retrieved February 23, 2010.
  46. ^ Stowe CM, Nelson R, Werdin R, et al.: "Zinc phosphide poisoning in dogs". JAVMA 173:270, 1978
  47. ^ See, for example, this list of common parrot illnesses and their causes

External links edit

  • "Penny Foolish", by David Margolick, The New York Times, February 11, 2007 – a brief popular history of the penny.
  • Man tries to get rid of million pennies, USA Today, January 7, 2004.
  • Examination of claim that "A U.S. penny costs more than a cent to manufacture" on Snopes.
  • – slideshow by Time Magazine
  • U.S. Lincoln Penny on the Planet MarsCuriosity Rover (September 10, 2012).
  • PennyFreeBiz Grass Roots effort by retailers and merchants to stop using the penny. (June 2007).

penny, united, states, coin, other, uses, penny, disambiguation, cent, united, states, america, cent, coin, symbol, often, called, penny, unit, currency, equaling, hundredth, united, states, america, dollar, been, lowest, face, value, physical, unit, currency,. For other uses see Penny disambiguation The cent the United States of America one cent coin symbol often called the penny is a unit of currency equaling one one hundredth of a United States of America dollar It has been the lowest face value physical unit of U S currency since the abolition of the half cent in 1857 the abstract mill which has never been minted equal to a tenth of a cent continues to see limited use in the fields of taxation and finance The first U S cent was produced in 1787 and the cent has been issued primarily as a copper or copper plated coin throughout its history Due to inflation pennies have lost virtually all their purchasing power and are often viewed as an expensive burden to businesses banks government especially mints and the public in general CentUnited States of AmericaValue0 01 U S DollarMass 1982 present 2 5 g 0 08 troy oz Diameter19 05 mm 0 75 in Thickness1 52 mm 0 0598 in EdgePlainComposition 1982 present copper plated zinc97 5 Zn 2 5 CuYears of minting1793 1814 1816 presentCatalog number ObverseDesignAbraham LincolnDesignerVictor D BrennerDesign date1909 modified since ReverseDesignUnion ShieldDesignerLyndall BassDesign date2010 presentThe penny is issued in its current form as the Lincoln cent with its obverse featuring the profile of President Abraham Lincoln since 1909 the centennial of his birth From 1959 the sesquicentennial of Lincoln s birth to 2008 the reverse featured the Lincoln Memorial Four different reverse designs in 2009 honored Lincoln s 200th birthday and a new permanent reverse the Union Shield was introduced in 2010 The coin is 0 75 inches 19 05 mm in diameter and 0 0598 inches 1 52 mm in thickness The current copper plated zinc cent issued since 1982 weighs 2 5 grams while the previous 95 copper cent still found in circulation weighed 3 11 g see further below The U S Mint s official name for the coin is cent 1 and the U S Treasury s official name is one cent piece 2 The colloquial term penny derives from the British coin of the same name which occupies a similar place in the British system Pennies is the plural form not to be confused with pence which refers to the unit of currency In the early 2010s the price of metal used to make pennies rose to a noticeable cost to the mint which peaked at more than 2 a negative seigniorage for the 0 01 face value coin This pushed the mint to look for alternative metals again for the coin and also brought the debate about eliminating the coin into more focus As of 2022 update there are no firm plans to do so 3 Contents 1 History of composition 2 Designs 3 Lincoln cent 3 1 History 3 2 Wheat cent 1909 1958 3 3 Lincoln Memorial cent 1959 2008 3 4 Lincoln Bicentennial cents 2009 3 5 Union shield cent 2010 present 4 Criticism of continued use 4 1 Proposals to eliminate 4 2 Metal content and manufacturing costs 4 3 Toxicity 5 See also 6 References 7 External linksHistory of composition editThe composition of the penny has varied over time 4 5 Years Material Weight grains Weight grams 1793 1795 100 copper 208 grains 13 481795 1857 100 copper 168 grains 10 891856 1864 88 copper 12 nickel also known as NS 12 72 grains 4 671864 1942 bronze 95 copper 5 tin and zinc 48 grains 3 111943 zinc coated steel also known as 1943 steel cent 42 grains 2 721944 1946 gilding metal 95 copper 5 zinc 48 grains 3 111947 1962 bronze 95 copper 5 tin and zinc 48 grains 3 111962 September 1982 gilding metal 95 copper 5 zinc 48 grains 3 11October 1982 present copper plated zinc 97 5 zinc 2 5 copper 38 6 grains 2 5The isotope composition of early coins spanning the period 1828 to 1843 reflects the copper from Cornish ores from England while coins after 1850 reflect the Keweenaw Peninsula Michigan ores a finding consistent with historical records 6 In 1943 at the peak of World War II zinc coated steel cents were made for a short time because of war demands for copper A few copper cents from 1943 were produced from 1942 planchets remaining in the bins Similarly some 1944 steel cents have been confirmed From 1944 to 1946 salvaged ammunition shells made their way into the minting process and it was not uncommon to see coins featuring streaks of brass or having a considerably darker finish than other issues During the early 1970s the price of copper rose to the point where the cent contained almost one cent s worth of copper This led the Mint to test alternative metals including aluminum and bronze clad steel Aluminum was chosen and over 1 5 million samples of the 1974 aluminum cent were struck before ultimately being rejected The cent s composition was changed in 1982 because the value of the copper in the coin started to rise above one cent 7 Some 1982 cents used the 97 5 zinc composition while others used the 95 copper composition With the exception of 2009 bicentennial cents minted specifically for collectors United States cents minted after 1982 have been zinc with copper plating The bronze and copper cents can be distinguished from the newer zinc cents by dropping the coins on a solid surface or by flipping them in the air with your thumb The predominantly zinc coins make a lower pitched clunk when hitting the surface and make no sound when flipped in the air while the copper coins produce a higher pitched ringing sound 8 In addition a full 50 cent roll of pre 1982 3 coins weighs 5 4 oz 150 g compared to a post 1982 83 roll which weighs 4 4 oz 120 g Designs editThe coin has gone through several designs over its two hundred year time frame Until 1857 it was about the size of the current U S dollar coins Susan B Anthony through present dollars Shown below are the different cent designs that have been produced mintage figures can be found at United States cent mintage figures Large cents Flowing Hair Chain 1793 Flowing Hair Wreath 1793 Liberty Cap 1793 1796 Draped Bust 1796 1807 Classic Head 1808 1814 Coronet 1816 1839 Braided Hair 1839 1857 1868 not a regular issue Small cents Flying Eagle cent 1856 1858 Indian Head cent 1859 1909 Lincoln cent 1909 present Lincoln Wheat 1909 1958 Lincoln Memorial 1959 2008 Lincoln Bicentennial 4 reverse designs 2009 Lincoln Union Shield 9 2010 present Throughout its history the Lincoln cent has featured several typefaces for the date but most of the digits have been old style numerals except with the 4 and 8 neither ascending nor descending The only significant divergence is that the small 3 was non descending the same size as a 0 1 or 2 in the early history before switching to a descending large 3 for the year 1934 and then permanently as of 2014 update in 1943 Similarly the digit 5 was small and non descending up to 1945 nbsp Liberty Cap cent 1794 nbsp Classic Head cent 1811 nbsp Braided Hair large cent 1850 nbsp Flying Eagle small cent 1858 nbsp Indian Head cent 1859Lincoln cent editMain article Lincoln cent nbsp A 1937 Wheat cent nbsp Cameo proof Lincoln cent obverse nbsp Obverse side of a cent after 17 years of circulationThe Lincoln cent is the current one cent coin of the U S It was adopted in 1909 which would have been Lincoln s 100th birthday replacing the Indian Head cent Its reverse was changed in 1959 from a wheat stalks design to a design which includes the Lincoln Memorial to commemorate Lincoln s sesquicentennial and was replaced again in 2009 with four new designs to commemorate Lincoln s bicentennial There are more one cent coins produced than any other denomination which makes the Lincoln cent a familiar item In its lifespan this coin has weathered both world wars one of which temporarily changed its composition as part of the war effort The obverse design is the longest produced for any circulating American coin History edit nbsp A collection of Lincoln cents from 1941 to 1974 Nearly complete set in a folder Also features two error coins Reverses of the Lincoln cent nbsp Wheat 1909 1958 nbsp Lincoln Memorial 1959 2008 nbsp Formative Years in Indiana Lincoln Bicentennial 2009 When the Lincoln one cent coin made its initial appearance in 1909 it marked a radical departure from the accepted styling of United States coinage as it was the first regular coin to bear a portrait other than the mythical Liberty which appeared on most pre 1909 regular coins Previously a strong feeling had prevailed against using portraits on coins in the United States but public sentiment stemming from the 100th anniversary celebration of Abraham Lincoln s birth proved stronger than the long standing tradition A variety of privately minted tokens bearing Lincoln s image circulated as one cent pieces during Lincoln s presidency legitimate coinage had become scarce during the Civil War These early tokens undoubtedly influenced the denomination appearance size and composition of Lincoln cents Theodore Roosevelt the 26th U S president thought American coins were so common and uninspiring that he attempted to get the motto In God We Trust removed as offending religion Roosevelt had the opportunity to pose for a young Lithuanian born Jew Victor David Brenner who since arriving nineteen years earlier in the United States had become one of the nation s premier medalists Roosevelt had learned of Brenner s talents in a settlement house on New York City s Lower East Side and was immediately impressed with a bas relief that Brenner had made of Lincoln based on a Mathew Brady photograph Roosevelt who considered Lincoln the savior of the Union and the greatest Republican president and who also considered himself Lincoln s political heir ordered the new Lincoln cent to be based on Brenner s work and to be released just in time to commemorate Lincoln s 100th birthday in 1909 The likeness of President Lincoln on the obverse of the coin is an adaptation of a plaque Brenner created several years earlier which had come to the attention of President Roosevelt in New York 10 In addition to the prescribed elements on U S coins LIBERTY and the date the motto In God We Trust appeared for the first time on a coin of this denomination The United States Congress passed the Act of March 3 1865 authorizing the use of this motto on U S coins 11 during Lincoln s tenure in office Even though no legislation was required for the new design approval of the Secretary of the Treasury was necessary to make the change Franklin MacVeagh gave his approval on July 14 1909 and not quite three weeks later on August 2 the new coin was released to the public In 1918 after the controversy over Brenner s name and initials on the reverse had died down his initials were placed on the obverse with no further controversy They are to be found in minute form on the rim of the bust just under the shoulder of Lincoln Wheat cent 1909 1958 edit A study of three potential reverses resulted in the approval of a very simple design bearing two wheatheads in memorial style Between these in the center of the coin are the denomination and UNITED STATES OF AMERICA while curving around the upper border is the national motto E Pluribus Unum Latin for Out of Many One The original model bore Brenner s name on the reverse curving along the rim below UNITED STATES OF AMERICA Before the coins were issued however the initials VDB were substituted because officials at the United States Mint felt the name was too prominent After the coin was released many protested that even the initials were conspicuous and detracted from the design Because the coin was in great demand and because to make a change would have required halting production the decision was made to eliminate the initials entirely Thus in 1909 the U S had six different cents the 1909 and 1909 S Indian Head cents and four Lincoln coins 1909 VDB 1909 S VDB 1909 and 1909 S In all cases the Philadelphia mintages far exceeded the San Francisco issues While the smallest mintage is the 09 S Indian the 09 S VDB is the key Lincoln date and hence is most valuable Its mintage of 484 000 is only 1 7 of the plain V D B Lincoln Memorial cent 1959 2008 edit nbsp Detail of reverse showing Lincoln statue inside the memorialOn February 12 1959 a revised reverse design was introduced as part of the 150th anniversary of Lincoln s birth No formal competition was held Frank Gasparro then Assistant Engraver at the Philadelphia Mint prepared the winning entry selected from a group of 23 models that the engraving staff at the Mint had been asked to present for consideration Again only the approval of the Secretary of the Treasury was necessary to make the change because the design had been in use for more than the required 25 years The imposing marble Lincoln Memorial provides the central motif with the legends E Pluribus Unum and UNITED STATES OF AMERICA completing the design together with the denomination The initials FG appear on the right near the shrubbery This series is noteworthy for having the image of Abraham Lincoln both on the obverse and reverse as his likeness can be discerned at the center of the memorial on the reverse Lincoln Bicentennial cents 2009 edit The Presidential 1 Coin Act of 2005 required that the cent s reverse be redesigned in 2009 This resulted in the mintage of four different coins showing scenes from Abraham Lincoln s life in honor of the bicentennial of his birth These four designs unveiled September 22 2008 at a ceremony held at the Lincoln Memorial on the National Mall in Washington D C are Birth and early childhood in Kentucky this design features a log cabin and Lincoln s birth year 1809 It was designed by Richard Masters and sculpted by Jim Licaretz This cent was released into circulation on Lincoln s 200th birthday February 12 2009 at a special ceremony at LaRue County High School in Hodgenville Kentucky Lincoln s birthplace 12 The mintage was extremely low compared to prior years see Lincoln cent mintage figures It has been nicknamed the Log Cabin Penny Formative years in Indiana this design features a young Lincoln reading while taking a break from rail splitting It was designed and sculpted by Charles Vickers Nicknamed the Indiana Penny it was released on May 14 2009 13 Professional life in Illinois this design features a young professional Lincoln standing before the Illinois State Capitol in Springfield It was designed by Joel Iskowitz and sculpted by Don Everhart Nicknamed the Illinois Penny it was released on August 13 2009 13 Presidency in Washington D C this design features the half completed Capitol dome It was designed by Susan Gamble and sculpted by Joseph Menna This fourth cent was released to the public on November 12 2009 13 U S Mint released collector s sets containing this design in copper prior to the public launch of this design in zinc Special 2009 cents struck for sale in sets to collectors had the metallic copper content of cents minted in 1909 95 copper 5 tin and zinc 14 Those struck for circulation retained the normal composition of a zinc core coated with copper Union shield cent 2010 present edit The 2005 act that authorized the redesign for the Bicentennial stated that another redesigned reverse for the Lincoln cent will be minted which shall bear an image emblematic of President Lincoln s preservation of the United States of America as a single and united country 15 Eighteen designs were proposed for the reverse of the 2010 cent 16 On April 16 2009 the Commission of Fine Arts CFA met and selected a design that showed 13 wheat sheaves bound together with a ring symbolizing American unity as one nation 17 Later this design was withdrawn because it was similar to coinage issued in Germany in the 1920s 18 The Citizens Coinage Advisory Committee later met and chose a design showing a Union shield with ONE CENT superimposed in a scroll E Pluribus Unum was also depicted in the upper portion of the shield 18 18 In June 2009 the CFA met again and chose a design featuring a modern rendition of the American flag 19 As a part of the release ceremony for the last of the 2009 cents on November 12 the design for the 2010 cent was announced 20 The design chosen was the one that was chosen earlier by the CCAC 20 According to the Mint the 13 stripes on the shield represent the states joined in one compact union to support the Federal government represented by the horizontal bar above 21 The Mint also noted that a shield was commonly used in paintings in the Capitol hallways painted by Constantino Brumidi an artist in the Capitol active during the Lincoln Presidency 21 The obverse of the cent was also changed to a modern rendition of Brenner s design 22 20 The new Union Shield design replaces the Lincoln memorial in use since 1959 20 The coin was designed by artist Lyndall Bass and sculpted by U S Mint sculptor engraver Joseph Menna 23 In January 2010 the coins were released early in Puerto Rico 24 this was caused by a shortage of 2009 dated pennies on the island 22 The new design was released at a ceremony at the Abraham Lincoln Presidential Library in Springfield Illinois on February 11 2010 25 In 2017 cents minted in Philadelphia were struck with a P mintmark to celebrate the 225th anniversary of the U S Mint 2017 is the only year that Philadelphia cents have had a mintmark 26 In 2019 the United States Mint the West Point Mint minted pennies marked with a W mintmark which was only available with proof sets wrapped separately from the proof set in its own United States Mint plastic wrap 27 Criticism of continued use editProposals to eliminate edit Main article Penny debate in the United States See also Canadian penny and Australian one cent coin It has been suggested that the penny should be eliminated as a unit of currency for several reasons For example many Americans do not actually spend pennies but rather only receive them in change at stores and proceed to return them to a bank for higher denomination currencies or cash them in at coin counting kiosks Most modern vending machines do not accept pennies further diminishing their utility Businesses in the United States are also under no obligation due to new regulations to accept pennies as payment In addition the production cost now exceeds the face value of the coin caused by increasing inflation 28 In 2001 and 2006 for example United States Representative Jim Kolbe R of Arizona introduced bills which would have stopped production of pennies in 2001 the Legal Tender Modernization Act and in 2006 the Currency Overhaul for an Industrious Nation COIN Act 29 In anticipation of the business of melting down U S pennies and U S nickels for profit the U S Mint which is a part of the US Department of the Treasury implemented new regulations 30 on December 14 2006 which criminalize the melting of pennies and nickels and place limits on export of the coins Violators can be punished with a fine of up to 10 000 USD imprisoned for a maximum of five years or both 31 Metal content and manufacturing costs edit The price of metal drives the cost to manufacture a cent The Secretary of the Treasury has authority to alter the percentage of copper and zinc in the one cent coin if needed due to cost fluctuations 32 For years the Mint s production and shipping costs for cents have exceeded the face value of the coin the Mint s fixed costs and overhead however are absorbed by other circulating coins 33 As a result the U S Treasury loses tens of millions of dollars every year producing cents For example the loss in 2013 was 55 million 34 Cost to manufacture and distribute a penny in cents Fiscal year 2010 32 2011 2012 35 2013 34 2014 36 2015 37 2016 38 2017 2018 39 2019 40 2022 41 Cost cents 1 79 2 41 2 00 1 83 1 70 1 67 1 50 1 82 2 06 1 99 2 72When copper reached a record high in February 2011 42 the melt value of a 95 copper cent was more than three times its face value As of January 21 2014 a pre 1982 cent contained 2 203 cents worth of copper and zinc making it an attractive target for melting by people wanting to sell the metals for profit In comparison post 1982 copper plated zinc cents have a metallurgical value of only 0 552 cent 43 Toxicity edit Further information Zinc toxicity and Copper toxicity Zinc a major component of U S cents minted after mid 1982 is toxic in large quantities Swallowing such a coin which is 97 5 zinc can cause damage to the stomach lining because of the high solubility of the zinc ion in the acidic stomach 44 Coins are the most commonly ingested foreign body in children but generally are allowed to pass spontaneously unless the patient is symptomatic 45 Zinc toxicity mostly in the form of the ingestion of U S pennies minted after 1982 is commonly fatal in dogs where it causes a severe hemolytic anemia 46 It is also highly toxic in pet parrots and can often be fatal 47 See also edit nbsp Money portal nbsp Numismatics portal nbsp United States portal1909 S VDB Lincoln Cent 1943 steel cent 1943 copper cent 1955 doubled die cent 1974 aluminum cent Large cent United States coin Legal Tender Modernization Act Mill currency Penny Canadian coin Penny debate in the United States Ring cent Take a penny leave a penny United States Mint coin production Lincoln cent mintage figuresReferences edit The United States Mint Coin Specifications Washington D C United States Mint Archived from the original on November 11 2009 Retrieved November 9 2009 Denomination Cent Nickel Dime Quarter Dollar categories across the top of the specifications chart Denominations Washington D C United States Department of the Treasury Archived from the original on March 17 2015 Retrieved March 3 2015 The proper term is one cent piece but in common usage this coins is often referred to as a penny or cent Nicks Denver April 20 2016 Even the U S Treasury Secretary Wants to Scrap the Penny Money com Archived from the original on August 5 2020 Retrieved April 24 2018 Coin Specifications September 20 2016 Archived from the original on May 6 2022 Retrieved March 23 2019 U S Mint September 3 2019 Coin Production Archived from the original on December 18 2020 Retrieved December 20 2020 Mathur R 2009 The history of the United States cent revealed through copper isotope fractionation Journal of Archaeological Science 36 2 430 433 doi 10 1016 j jas 2008 09 029 Meridith Stephanie February 1 2022 Historic Coin Production United States Mint United States Mint Archived from the original on June 18 2023 Retrieved September 20 2023 Is my Penny a Copper or a Zinc Cent Archived from the original on July 7 2011 Retrieved June 16 2008 The United States Mint Coins and Medals Program USMint gov Archived from the original on March 4 2010 Retrieved December 27 2010 Margolick David February 11 2007 Penny Foolish The New York Times Archived from the original on April 2 2019 Retrieved May 22 2010 History of In God We Trust treasury gov Archived from the original on January 17 2012 Retrieved April 29 2016 Kocher Greg February 13 2009 Lincoln s birthplace is launch site for new penny Lexington Herald Leader Archived from the original on February 17 2009 Retrieved November 26 2009 a b c O Keefe Ed February 17 2009 Heads Abe Tails New On Pennies Marking Lincoln Bicentennial The Washington Post p A11 Archived from the original on June 4 2011 Retrieved August 22 2017 U S Mint Online Product Catalog Catalog usmint gov Archived from the original on July 27 2011 Retrieved July 20 2011 Pub L Tooltip Public Law United States 109 145 text PDF 119 Stat 2674 enacted December 22 2005 Presidential 1 Coin Act of 2005 Title VI 303 The design on the reverse of the 1 cent coins issued after December 31 2009 shall bear an image emblematic of President Lincoln s preservation of United States of America as a single and united country Retrieved November 30 2009 Staff June 9 2009 2010 Lincoln Cent Design Proposals 2010 Lincoln Cents Archived from the original on November 25 2009 Retrieved November 30 2009 There were initially 18 design proposals for the 2010 Lincoln Cent reverse McAllister Bill May 4 2009 Wheat Design may appear on the 2010 cent Coin World 50 2560 1 a b c McAllister Bill May 18 2009 Mint withdraws 2010 Wheat cent design Coin World 50 2562 1 McAllister Bill May 18 2009 Commission votes for U S flag on 2010 1 Coin World 50 2565 1 a b c d Gilkes Paul November 30 2009 Cent to bear Union Shield design in 2010 Coin World 50 2590 1 68 a b United States Mint Releases Fourth 2009 Lincoln Bicentennial One Cent Coin Press release United States Mint November 12 2009 Archived from the original on January 6 2010 Retrieved November 30 2009 a b Gilkes Paul February 15 2010 Mint Returns to 1909 Galvano for Portrait Coin World 51 2601 1 24 United States Mint Launches 2010 Lincoln One Cent Coin Press release United States Mint February 11 2010 Archived from the original on February 16 2010 Retrieved February 11 2010 The reverse of the 2010 and beyond Lincoln cent was designed by United States Mint Artistic Infusion Program Associate Designer Lyndall Bass and executed by United States Mint Sculptor Engraver Joseph Menna Gilkes Paul February 8 2010 First Circulation Reports of 2010 Cents From Puerto Rico Coin World 51 2600 5 Ruston Bruce February 11 2010 Collectors seek to turn profit on pennies State Journal Register Archived from the original on February 14 2010 Retrieved February 11 2010 The newest and for now permanent version of the Lincoln penny was unveiled this morning at the Abraham Lincoln Presidential Museum a href Template Cite news html title Template Cite news cite news a CS1 maint bot original URL status unknown link McMorrow Hernandez Joshua January 16 2017 Philadelphia Mint Quietly Releases 2017 P Lincoln Cent coinweek com Archived from the original on June 7 2019 Retrieved June 4 2018 United States Mint Proof Set U S Mint www usmint gov Archived from the original on March 31 2022 Retrieved March 31 2022 Hagenbaugh Barbara May 9 2006 Coins cost more to make than face value USA Today Archived from the original on March 7 2009 Retrieved October 4 2006 Zappone Christian July 18 2006 Kill the penny bill introduced CNN Archived from the original on July 28 2019 Retrieved July 28 2019 United States Mint Moves to Limit Exportation amp Melting of Coins Usmint gov Archived from the original on July 8 2018 Retrieved July 20 2011 CFR 2010 title31 vol1 part82 PDF U S Government Printing Office Archived PDF from the original on September 30 2015 Retrieved January 5 2013 a b United States Mint December 4 2010 U S Mint 2010 Annual Report PDF Archived PDF from the original on May 14 2011 Retrieved January 16 2011 Staff April 17 2012 Statement of Rodney J Bosco Navigant Consulting Inc on The Future of Money Coin Production Before the House Financial Services Subcommittee on Domestic Policy amp Technology United States House of Representatives April 17 2012 PDF U S Congress Archived PDF from the original on September 16 2012 Retrieved September 10 2012 a b US Mint Cost To Make Penny and Nickel Declines in FY 2013 January 20 2014 Archived from the original on April 28 2019 Retrieved January 21 2014 Unser Mike May 24 2019 Penny Costs 2 06 Cents to Make in 2018 Nickel Costs 7 53 Cents US Mint Realizes 321 1M in Seigniorage Coin News Archived from the original on July 12 2020 Retrieved July 11 2020 About U S Mint PDF Usmint gov Archived PDF from the original on April 14 2017 Retrieved April 24 2018 US Mint Cost To Make Penny Archived from the original on August 12 2015 Retrieved June 30 2015 Unser Mike February 21 2017 Penny Costs 1 5 Cents to Make in 2016 Nickel Costs 6 32 Cents US Mint Realizes 578 7M in Seigniorage Coin News Archived from the original on July 13 2020 Retrieved July 11 2020 Unser Mike May 24 2019 Penny Costs 2 06 Cents to Make in 2018 Nickel Costs 7 53 Cents US Mint Realizes 321 1M in Seigniorage Coin News Archived from the original on July 12 2020 Retrieved July 11 2020 Unser Mike February 7 2020 Penny Costs 1 99 Cents to Make in 2019 Nickel Costs 7 62 Cents US Mint Realizes 318 3M in Seigniorage Coin News Archived from the original on July 12 2020 Retrieved July 11 2020 2022 Biennial Report to Congress as Required by the Coin Modernization Oversight and Continuity Act of 2010 Public Law 111 302 PDF Report April 2023 METALS Copper falls on euro zone disappointment China worry Reuters August 20 2012 Archived from the original on December 7 2018 Retrieved November 18 2012 Current Melt Value Of Coins How Much Is Your Coin Worth Coinflation com Archived from the original on June 17 2016 Retrieved January 21 2014 Dawn N Bothwell M D and Eric A Mair M D FAAP Chronic Ingestion of a Zinc Based Penny Pediatrics Vol 111 No March 3 2003 pp 689 691 Retrieved April 17 2008 Mark L Waltzman M D Management of esophageal coins Current Opinion in Pediatrics Vol 45 No Jan 1 Feb 2006 pp 71 3 Retrieved February 23 2010 Stowe CM Nelson R Werdin R et al Zinc phosphide poisoning in dogs JAVMA 173 270 1978 See for example this list of common parrot illnesses and their causesExternal links edit nbsp Wikimedia Commons has media related to United States cents Penny Foolish by David Margolick The New York Times February 11 2007 a brief popular history of the penny Man tries to get rid of million pennies USA Today January 7 2004 Examination of claim that A U S penny costs more than a cent to manufacture on Snopes Top 10 Things You Didn t Know About the Penny slideshow by Time Magazine U S Lincoln Penny on the Planet Mars Curiosity Rover September 10 2012 PennyFreeBiz Grass Roots effort by retailers and merchants to stop using the penny June 2007 Retrieved from https en wikipedia org w index php title Penny United States coin amp oldid 1205898782, wikipedia, wiki, book, books, library,

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