Penny's Financial Value: 1/100th of a dollar
Diameter: 19.05 millimeters Weight: 3.11 grams until 1982, 2.5 grams (current) Edge: Plain Penny Rolls: Pink (or Red?) Pennies per Roll: 50 Weight of a full roll: 125 grams to 155.5 grams Financial Value: 50¢ Penny Rolls per Pack: 36 Penny Roll Pack completely filled: $18.00 |
Why is it called a "Penny"?
During the colonial period, the colonists used a variety of coins from other countries, including the British "penny". The British Penny is the smallest unit of the British Pound and in turn since our 1 cent coin is the smallest unit we use in America it is called the "penny".
Source: https://www.usmint.gov/
1792
Upon the passage of the Coinage Act, the American penny was one of the first coin minted.
The first American penny was larger in diameter than the modern day penny and featured a woman with flowing hair to represent "Liberty".
The first American penny was larger in diameter than the modern day penny and featured a woman with flowing hair to represent "Liberty".
1857
The penny was reduced to its current size, which is a 19.05 millimeter diameter.
In 1857 the penny featured a Flying Eagle and in 1874 changed to a Native American Head.
In 1857 the penny featured a Flying Eagle and in 1874 changed to a Native American Head.
THE OBVERSE
ABRAHAM LINCOLN
THE REVERSE
ONE
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On the reverse side of the Lincoln Penny from 1909 to 1958 featured the phrase "One Cent United States of America"
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LINCOLN MEMORIAL
2009 - The Bicentennial of Lincoln's Birth
Lincoln's Boyhood Cabin in Kentucky
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Lincoln studying on a log during his Formative years in Indiana
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The Illinois State Capitol representing Lincoln's professional Life
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The U.S. Capitol Building symbolizing Lincoln's Presidency.
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THE UNION SHIELD
PHRASES
OBVERSE
"In God We Trust" - This is the U.S. motto
"Liberty" - perhaps an ode to Lady Liberty who was on the original American penny.
"The Date" - this indicates the year the coin was minted
"Mint Mark" - "S" represents the San Francisco Mint, "D" represents the Denver Mint, "P" (only in 2017) represents the Philadelphia Mint; "W" (2019 only) represents the West Point Mint; no mint mark indicates the coin was minted in either Philadelphia or West Point.
REVERSE
"United States of America" - the Nation the coin represents
"One Cent" - the Value of the Coin
"E. Pluribus Unum" - a latin phrase that means "out of many, one".
"In God We Trust" - This is the U.S. motto
"Liberty" - perhaps an ode to Lady Liberty who was on the original American penny.
"The Date" - this indicates the year the coin was minted
"Mint Mark" - "S" represents the San Francisco Mint, "D" represents the Denver Mint, "P" (only in 2017) represents the Philadelphia Mint; "W" (2019 only) represents the West Point Mint; no mint mark indicates the coin was minted in either Philadelphia or West Point.
REVERSE
"United States of America" - the Nation the coin represents
"One Cent" - the Value of the Coin
"E. Pluribus Unum" - a latin phrase that means "out of many, one".
MATERIALS
Despite the Constitutions instructions that only Silver and Gold coins are to be used as legal tender for settling United States debts, the Penny has never been made out of either Silver, Gold, or a percentage of Silver nor Gold.
From 1909 to 1942 and 1944 to 1982 the penny was made from 95% Copper and the remainder from tin or zinc
In 1943 the Penny was made from a zinc-plated steel
From 1983 to today the Penny is made from 97% Zinc and 3% Copper
It costs about 2 cents to mint one penny.
It costs about 2 cents to mint one penny.
From my understanding the mint will stop producing pennies in 2023? Apparently not, the penny will continue to be minted in 2024.
More information on Pennies
YOUTUBE: (17-min) from 1/13/2020, "The Cent: Complete History and Evolution of the U.S. Penny" by Treasure Town
YOUTUBE: (7-min) from 7/29/2018, "History of the President Lincoln Cent / U.S. Coins Documentary / Learning about the U.S. Penny" by Coins For Amateurs
YOUTUBE: (22-min) from 5/2/2021, "Pennies / The Deep Dive" by Jim and Dawn Cutler
Possible "Collector" Pennies (perhaps worth more than their one cent value?)
YOUTUBE: (8-min) from 1/8/2019, "1909 to 1958 Lincoln Wheat Cent Penny Value 1 - The Key Dates - What to Look for" by Coin HELP U
YOUTUBE: (12-min) from 1/31/2019, "The Twelve Most Expensive Pennies in U.S. History" by Treasure Town
YOUTUBE: (21-min) from 6/24/2019, "25 Most Valuable Pennies" by Variety & Errors
My Collection of Pennies
Storage Boxes
To store your rolls of pennies you can invest in storage boxes. These storage boxes hold up to 50 coin rolls and can be ordered online.
Yours truly ordered mine from Coin Supply Express. The box itself cost about $7 and with shipping and handling fees to acquire the box and have it delivered cost just under $13. Since the box holds 50 penny rolls, a financial total of $25, that means yours truly made a $12 profit on my investment.
The penny storage box is pink, the same color code as the coin rolls.
Yours truly ordered mine from Coin Supply Express. The box itself cost about $7 and with shipping and handling fees to acquire the box and have it delivered cost just under $13. Since the box holds 50 penny rolls, a financial total of $25, that means yours truly made a $12 profit on my investment.
The penny storage box is pink, the same color code as the coin rolls.