Penny for your thoughts

[953 nut 57,453]

 

National One Cent Day, which honors a major point in the establishment of the American currency, is observed on April 1. The story begins in the times of Benjamin Franklin all the way to Abraham Lincoln. Did you know, the one-cent coin used to be called the Flowing Hair dollar because of the image of the Statue of Liberty on it?

Back in 1787, the U.S. issued the first one-cent coin, designed by Benjamin Franklin. On one side, the coin read “Mind Your Business”, and on the other side, “We Are One”. Unlike today’s one-cent coins, Franklin’s design was made entirely of copper and was also bigger. It went on to be called the Fugio cent or the Franklin cent. These coins were handcrafted and minted by workers without the use of machines.

But in 1792, when the United States Mint was established, a proposal for a new coin design was submitted. By 1793, on April 1, the new one-cent coin was introduced into the market. These new coins were a symbol of the Statue of Liberty. One side depicted an image of a lady with flowing hair, and the other side showed 13 chains representing the 13 colonies. As years went by, the coin’s size was reduced to make it easier to handle. The coin went on to see several other design changes, from an eagle wreath and the head of an American Indian to President Lincoln’s face. The metals it was made from also changed from being 100% copper to being 97.5% zinc and only 2.5% copper.

So, there you have it. While a one-cent coin can make you feel rich or poor depending on the context, one thing is for sure, and that is people have been celebrating the day to remember the coin’s rich history and its importance in the U.S.A.’s development.

The cost of producing coins varies significantly depending on the denomination and the materials used. For example, in the United States, it costs more than the face value to circulate certain coins like the penny and nickel. According to a 2023-dated report from the United States Mint, producing a single penny costs about 3.07 cents, while a nickel costs around 11.54 cents.

Larger denominations, such as dimes and quarters, are more cost-effective to produce relative to their face value. The United States Mint and other national mints continuously evaluate these costs to balance production efficiency with economic viability. However, not all mints release their production costs.

The Canadian Government announced it would phase out the penny from Canada's coinage system, February 4, 2013 was set as the date after which the Royal Canadian Mint will no longer distribute pennies. Pennies are still legal tender in Canada but have been disappearing from circulation.

It took the United States an additional dozen years to figure this out but in February of 2025 our 47^th President ordered the Treasury Department to stop minting new pennies. The existing ones will remain in circulation and be legal tender for financial transactions.

 

 

[SylvanLakeWH 27,156]

[JoeM 7,906]

cheaper to use a penny for a small flat washer? 

[oliver2-44 10,236]

27 minutes ago, JoeM said:

cheaper to use a penny for a small flat washer? 

And when some one takes it apart in 50 years the will be amazed at the penney!

[WHX?? 50,467]

All i know is if Lincoln is bald ... your tires are shot 

1 hour ago, JoeM said:

penny for a small flat washer?

@Achto s dad used to say it was cheaper to drill a hole in a quarter than run to town for a washer ... 

[Handy Don 13,254]

 

2 hours ago, JoeM said:

cheaper to use a penny for a small flat washer? 

 

 

1 hour ago, WHX?? said:

@Achto s dad used to say it was cheaper to drill a hole in a quarter than run to town for a washer ... 

 

Google’s AI Overview says (😬):

Defacing U.S. currency with the intent to render it unfit for reissue can lead to fines and/or imprisonment for up to six months, according to 18 U.S. Code § 333. 

[953 nut 57,453]

2 hours ago, Handy Don said:

 

 

 

Google’s AI Overview says (😬):

Defacing U.S. currency with the intent to render it unfit for reissue can lead to fines and/or imprisonment for up to six months, according to 18 U.S. Code § 333. 

            Would that include the pennies we all  those other kids put on train tracks so they would become flattened?             

[SylvanLakeWH 27,156]

2 hours ago, Handy Don said:

 

 

 

Google’s AI Overview says (😬):

Defacing U.S. currency with the intent to render it unfit for reissue can lead to fines and/or imprisonment for up to six months, according to 18 U.S. Code § 333. 

 

26 minutes ago, 953 nut said:

            Would that include the pennies we all  those other kids put on train tracks so they would become flattened?             

The key here is "intent to render it unfit for reissue"... no problem, the "intent" was to reissue it at a higher value as a washer... or in the case of the kids on the rr tracks, a very valuable souvenir secured at great risk...

 

[JoeM 7,906]

3 hours ago, Handy Don said:

Defacing U.S. currency with the intent to render it unfit for reissue can lead to fines and/or imprisonment for up to six months, according to 18 U.S. Code § 333.

Rest Easy @Handy Don, no currency is getting rendered unfit by me! LOL

Just was making a flat washer cost analogy.

 

[Handy Don 13,254]

Just now, JoeM said:

Rest Easy @Handy Don, no currency is getting rendered unfit by me! LOL

Just was making a flat washer cost analogy.

 

That post was intended as "tongue in cheek”, though ya never know when someone might not like it, right? 😄

[ohiofarmer 3,323]

I am not sure if the truth of any of this.

  April first and all

 

   I do use Pennies for washers on batteries and any place that high current connects.  I figure they can catch me and find me three cents per defacement