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Forums - General - Is This the Age of a New Penny??? (USA)

So, I was sorting my spare change, and I came across this:

I've never seen it before, but it's real, because I have one in my  hand right now.

In case you aren't familiar with U.S. currency, this is what pennies haved looked like from 1958 until present day:

But with this new penny, they have changed the "reverse" or "tails" side.

Before 1958, the pennies looked like this:

They are called "wheat pennies." The government stopped making them in mid-1958.

Now, I see a new penny. They never change the pennies, but quarters and nickels are changed a lot . Does this mean that we won't be seeing any more new pennies that have the Lincoln Memorial? Will we use these new pennies with the crest for the next 50 years, only to have it changed again?

Well, there's your history lesson to get you ready to go back to school. Or, if you are already back in school, then go tell it to one of your teachers or whatever. Or, if you aren't in school, then go tell your best friend.



 Been away for a bit, but sneaking back in.

Gaming on: PS4, PC, 3DS. Got a Switch! Mainly to play Smash

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These started popping up awhile ago, and what really bothers me about it is that they haven't gone to steel or aluminum coins for the penny yet.  It doesn't make sense to circulate coins that cost more to make than they are worth.



You do not have the right to never be offended.

but what I want to know is if it is limited edition, or if they are changing it for a long time.



 Been away for a bit, but sneaking back in.

Gaming on: PS4, PC, 3DS. Got a Switch! Mainly to play Smash

I have never seen one of those pennys



I think it is a permanent change. All of the new pennies  I see are like this. Have been for awhile.



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I don't know why they don't eliminate Pennies (at least in Canada)



 

ChichiriMuyo said:

These started popping up awhile ago, and what really bothers me about it is that they haven't gone to steel or aluminum coins for the penny yet.  It doesn't make sense to circulate coins that cost more to make than they are worth.


In the UK, all pennies made before 1991 are worth more as scrap metal than they are face value.



i finally saw it the limited edition custom made halo reach penny!



Being in 3rd place never felt so good

ChichiriMuyo said:

These started popping up awhile ago, and what really bothers me about it is that they haven't gone to steel or aluminum coins for the penny yet.  It doesn't make sense to circulate coins that cost more to make than they are worth.


I think it cost more to make paper money.

A dollar bill cost 5.7 cents to make, and average life in circulation is destroyed is 18 months.

A dollar coin cost 21 cents, and average life of a coin is 30 years.

A penny in 2004 cost .93 cents, so right at the cost.

But the cost of keeping one penny in circulation for 30 years, is .93 cents. The cost of keeping a paper dollar in circulation for 30 years, is $1.14.

So over time, the paper dollar cost more to make then a penny, and cost 5X what a dollar coin cost.



TheRealMafoo said:
ChichiriMuyo said:

These started popping up awhile ago, and what really bothers me about it is that they haven't gone to steel or aluminum coins for the penny yet.  It doesn't make sense to circulate coins that cost more to make than they are worth.


I think it cost more to make paper money.

A dollar bill cost 5.7 cents to make, and average life in circulation is destroyed is 18 months.

A dollar coin cost 21 cents, and average life of a coin is 30 years.

A penny in 2004 cost .93 cents, so right at the cost.

But the cost of keeping one penny in circulation for 30 years, is .93 cents. The cost of keeping a paper dollar in circulation for 30 years, is $1.14.

So over time, the paper dollar cost more to make then a penny, and cost 5X what a dollar coin cost.

What would happen if all physical currency was replaced by data cards?