Founding father Benjamin Franklin as soon as said, "A penny saved is a coin earned." If you were able to conserve a million pennies, how much money would certainly you have? A million pennies add up come $10,000. That would probably take you years to conserve that countless pennies. When you"re making your saving plan, review on because that the fascinating story of America"s one-cent coin.

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The official name because that an American coin is "one-cent piece," so why perform we use words "penny" to refer to these coins? Pennies have actually existed for an ext than 1,000 year in miscellaneous countries and also cultures. Words "penny," which shows up in different forms in other languages, originally referred to a coin that had actually a little value. 

Even despite our pennies space officially one-cent pieces, the nickname "penny" is what stuck, and also you"ll hear civilization all across the United says use that word for that coin today.

The background of the Penny

The penny was the first coin authorized through the U.S."s an initial president, George Washington. The initial penny had actually a style by Benjamin Franklin that had actually a sundial through the Latin native "Fugio," i m sorry means, "I fly," and the expression "Mind your Business" on the obverse, or prior side, and also a 13-link chain representing the initial U.S. And also the motto "We space One" ~ above the turning back or earlier side. 

Later designs connected various versions of a female figure representing Liberty ~ above the obverse with miscellaneous designs on the reverse. The coin also changed sizes with the years prior to the "Flying Eagle" style in the mid-1850s offered the coin a major redesign and also shrunk it to something close to its present size.

Honoring the 16th President

In 1909, U.S. Chairman Theodore Roosevelt propose honoring Abraham Lincoln on the penny through a brand-new design the commemorated Lincoln"s 100th birthday. Lincoln to be the an initial president that the U.S. Commemorated on a coin, and also other coins complied with suit in later on years.

From 1959 to 2008, both sides of the penny honored Abraham Lincoln, with a file of his image on the front face, and also the Lincoln Memorial in Washington, D.C., featured top top the reverse side. In 2009, the reverse side readjusted again to attribute a shield top top a new design.

A Distinctive Look

For many of that is history, the penny has looked much different from the rest of American coins. The U.S. Mint began making the first pennies native pure copper, therefore they had a distinctive red copper look. Together the value of copper has changed, the Mint make pennies the end of other materials, yet it maintained the distinct look.

For one year in 1943, the U.S. Make pennies indigenous steel because the nation needed copper for tools in people War II. The stole pennies looked like various other coins, and many people mistook them because that dimes, so America went ago to coppery-looking pennies the following year.

An high-quality Coin

These days, copper is much much more expensive 보다 it supplied to be, for this reason the U.S. Doesn"t use much copper to do pennies. In fact, only 2.5% that a penny is copper. However, using even that much copper in a penny renders it more costly than it"s worth to do them. That takes 1.8 cents to make a one-cent coin, for this reason the coin is an expensive coin to manufacture.

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Should the penny Be Discontinued?

The expense of make pennies has actually led to a activity to eliminate the coin. World who controversy for gaining rid that pennies say the the expense of make them combined with the environmental influence of zinc and copper mining renders it precious doing away through them. Civilization lose or throw away pennies an ext than various other coins together well. 

American armed forces bases have done away through pennies due to the fact that 2008, and also they round prices increase or under to the nearest nickel. People who advocate for gaining rid of pennies say the all Americans might do the very same thing.