10 Facts About Pennies... (Trust Me, This Is Worth Every Penny!)
While attempting to find the value of rare pennies for some of our loyal readers, I came across some interesting info about pennies in general.
Just thought I'd share...
photo by Joshua Whiting
Did you know?
- The average penny lasts 25 years!
- Pennies were the very first coins minted in the United States. In March 1793, the mint distributed 11,178 copper cents. (The amount of copper and zinc in the penny has changed significantly through the years.)
- There have been 11 different designs featured on the penny.
- The Lincoln penny was first minted and circulated in 1909, the 100th anniversary of his birth.
In a coin toss, I always choose tails. Here's why. (...although the U.S. Mint disputes this theory)
- Lincoln faces to the right, while all other portraits on coins face to the left. This was not done on purpose -- it was simply the choice of the coin designer.
- The penny was the first U.S. coin to have the motto "IN GOD WE TRUST". (Clarification: see Ben's comment below.)
- Lincoln pennies made from 1909 to 1958 were designed by Victor D. Brenner. His initials V.D.B. were on a limited quantity of the 1909 pennies making it one of the most sought after pennies for collecting.
Little-known facts (& NPR audio) about Frank Gasparro, an engraver at the U.S. Mint whose Lincoln Memorial design has graced the "tails" side of the penny since 1959 (...Lincoln's 150th birthday. The same year they replaced the wheat shafts on the back of the penny with the Lincoln Memorial).
- Approximately 30 million pennies per day (1,040 pennies every second) are produced. Each year, the U.S. Mint produces more than 13 billion pennies.
- Over two-thirds of all coins produced by the U.S. Mint are pennies. In fact, the penny is the most widely used denomination currently in circulation and it remains profitable to make. Each penny costs .93 of a cent to make, but the Mint collects one cent for it. The profit goes to help fund the operation of the Mint and to help pay the public debt.
- A recent poll by Opinion Research Corporation found that more than 70% of Americans support keeping the penny in circulation. (NOTE: elimination of the penny would lead to higher prices, since prices would then be rounded to the nearest five cents.)
RELATED:
U.S. Mint Printing Guidelines
10 Reasons to Keep the Penny in Circulation
