Farewell to the Penny - US Stops production

History of the Penny

The Coinage Act of 1792 by the US Mint, made the penny one of its first priorities, drawing inspiration from the British penny that colonists already knew. Early American pennies were bigger, nearly the size of a modern half-dollar and made from pure copper. The US Penny size changed as copper increased in price and new design releases came out.  The Lincoln cent, introduced in 1909 to mark Abraham Lincoln’s 100th birthday, cemented the penny’s place in the American history. By 1982, the coin consisted mostly of zinc with a thin copper plating — a cost-saving measure that ultimately couldn’t keep up with the rising price of raw materials. 

The US will end Penny production soon.

How soon? According to the US Treasury the Penny will stop being manufactured early in 2026. The expectation once the Penny blanks run out that will be it for the production run of the US Penny.

Why is the Penny ending?

To cut right to the truth, US economics, the US is teetering on the edge of the financial abyss, regardless of the Political party in charge and lack of Media coverage.  Cost cutting measures like these garner all the press, but are just a drop in the bucket with US debt snowball growing. There is more to the story than just a hollowed paper tiger, the push to all things digital has not helped the penny's cause either.

Will the existing Penny's maintain purchasing Power?

Yes, the Penny will remain legal tender until all have worn out or and been removed from circulation upon reaching that point.

Impact to prices?

Prices can be either rounded down to the nearest dollar or up to the next logical monetary increment the US Nickel.   One can guess which way retailers will send the price. What's your guess up or down?

Summary

I believe this is a necessary step to stem the US Gov. reckless spending. However, this is a last gasp effort of a dying empire. We need more larger and more beneficial spending reductions. Sad but! Convince me I am wrong! 

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