If you’re from the United States, you must have seen, held or spent a penny before. It’s a ubiquitous coin that we barely give a second thought. But the penny, or the one-cent coin, has a rich history and quirky attributes that make it an interesting subject to explore. In this article, we’ll delve into some fun facts about the penny, how it’s made, and some little-known things about this ubiquitous coin.

What Are Some Fun Facts About the Penny?

Here are some fun facts about the penny that will make you see this coin in a new light:

  • Abraham Lincoln, the 16th President of the United States, is the face of the penny. He has been on the coin since 1909.
  • The penny is also known as a “one-cent” coin, and it’s the smallest coin in terms of size and value in the US currency system.
  • The design of the penny has remained the same since 1909, with only minor changes such as the addition of the motto “In God We Trust” in 1959.
  • The penny is made of copper-plated zinc, which gives it its distinctive color and shine. Before 1982, pennies were made of 95% copper and 5% zinc.
  • There are over 144 billion pennies in circulation in the US today, which amounts to over $1.4 billion.

How Is a Penny Made?

To make a penny, the US Mint follows a meticulous process that involves several stages:

  1. The first step is to create the blank planchet, which is a small, flat, circular piece of metal that will eventually become a penny. The planchet is made of copper-plated zinc sheets.
  2. The blank planchet is then heated to soften the metal and make it easier to stamp. The heated planchet is then fed into a coining press.
  3. The coining press stamps the obverse (front) and reverse (back) of the penny onto the planchet. The front features the portrait of Abraham Lincoln, and the back features a shield surrounded by two stalks of wheat.
  4. Once the design is stamped onto the planchet, the penny is inspected and weighed to ensure it meets the proper specifications. Pennies that don’t meet the standards are melted down and reused.
  5. Finally, the pennies are packaged and shipped to the Federal Reserve Banks for distribution to banks and businesses.

Little-Known Things About the Penny

Here are some little-known things about the penny:

  • In 1943, the US Mint produced pennies made of steel instead of copper to conserve copper for the war effort.
  • One penny costs 2.06 cents to produce, according to the US Mint. This means that the production of pennies results in a loss for the US government.
  • Pennies minted before 1982 are worth more than their face value because of their high copper content. These pennies are worth about 2.43 cents each as of 2021.
  • The US government has considered getting rid of the penny several times because of its high production cost and low purchasing power. However, there is still a strong sentimental attachment to the penny among the American public.

In conclusion, while the penny may seem like a simple coin, it has a rich history and interesting attributes that make it a fascinating subject to explore. From the face of Abraham Lincoln to its composition and production process, the penny is a small but significant part of American currency that will continue to be used and cherished for years to come.

References

Post Views: 168