The U.S. penny, often called a “cent,” has a fascinating story that goes back over two centuries. It’s not just a small piece of money; it’s a symbol of American history, culture, and values. In this article, we’ll explore how the penny has changed, who is featured on it, and why it remains significant today.
Overview of the Penny’s History
The penny was first made in 1787, and it has seen many changes in design and materials. Before the famous Lincoln design came about in 1909, earlier pennies featured designs like the Indian Head and the Flying Eagle. The big shift happened in 1909 to celebrate Abraham Lincoln’s 100th birthday. This marked the first time a U.S. coin featured a real person instead of a symbol or a fictional character.
The Lincoln Cent: 1909 to Present
The Lincoln Penny, also known as the Lincoln Wheat Penny, was designed by sculptor Victor David Brenner. This coin shows Lincoln’s profile on the front (obverse) and two wheat stalks on the back (reverse). It was special because it was the first U.S. coin to say “In God We Trust.” This coin has been around since 1909, making it the longest-running design in U.S. history.
Design Changes Over Time
The penny has changed its design a few times:
Wheat Cent Reverse (1909-1958)
From 1909 to 1958, the back of the penny displayed two wheat stalks. This design symbolized agriculture and the American spirit.
Lincoln Memorial Reverse (1959-2008)
In 1959, to honor Lincoln’s 150th birthday, the U.S. Mint changed the reverse to show the Lincoln Memorial, a tribute to the legacy of the 16th president.
Bicentennial Commemoration (2009)
In 2009, the Mint released four different designs to celebrate Lincoln’s 200th birthday. Each design depicted a different part of Lincoln’s life, showcasing his achievements and values.
Union Shield Reverse (2010-Present)
Since 2010, the back of the penny features a Union Shield, symbolizing unity in the United States. This change reflects a modern vision for the country.
Changes in Composition
The materials used to make pennies have also changed over time. Originally, pennies were mostly made of copper. However, due to rising costs, the Mint had to switch materials:
- Pre-1982: Pennies were made of 95% copper and 5% zinc.
- 1982-Present: Now, they are made of 97.5% zinc and only 2.5% copper. This change was necessary because it costs more to make a penny than it’s worth.
During World War II, in 1943, pennies were made of steel to save copper for the war effort. These steel pennies are rare and valuable today.
Rare Pennies and Notable Varieties
Some Lincoln pennies are considered very rare and can be worth a lot:
- 1909-S VDB: Only 484,000 of these pennies were made, and they feature the designer’s initials. They are among the most valuable.
- 1943 Copper Penny: A few copper pennies were mistakenly made in 1943, making them extremely sought after, with some selling for over $100,000.
- 1955 Double Die: This penny is valuable because the date and inscription appear doubled, making it a favorite among collectors.
Current Production of Pennies
In 2021, the U.S. Mint made more than 7.6 billion pennies. This shows that the penny is still popular, even though it costs more than one cent to produce them. This has led to debates in Congress about whether to stop making pennies altogether.
Despite the high production costs, the penny remains an important part of American currency. It symbolizes good luck and is mentioned in sayings like “a penny saved is a penny earned.”
The Future of the Penny
The future of the penny is uncertain. Some people believe it should be eliminated due to its low purchasing power and production costs. Others argue for keeping it because of its cultural significance and the potential issues that rounding prices to the nearest nickel could cause.
No matter what happens, the penny is a unique part of American culture. Its history reflects the nation’s agricultural roots, important historical events, and shared values. Understanding the penny allows us to see it as more than just change; it represents a piece of our history that has changed alongside the country.
Conclusion
In conclusion, the penny has a rich history filled with changes in design and material. From its inception in 1787 to the Lincoln cent we know today, the penny symbolizes American heritage. It showcases key historical moments and reflects the values of a nation. Although its future is debated, the penny remains an enduring piece of American culture and identity. Understanding its history helps us appreciate it not just as a form of currency, but as a vital element of our shared story.
five frequently asked questions (FAQs)
1. Why is Abraham Lincoln on the penny?
Abraham Lincoln was chosen to be featured on the penny to honor his 100th birthday in 1909. He is one of America’s most respected presidents, and the design highlights his significance in U.S. history.
2. What are the different designs on the back of the penny?
1909-1958: Two wheat stalks (Wheat Cent)
1959-2008: The Lincoln Memorial
2009: Four different designs representing stages of Lincoln’s life
2010-Present: The Union Shield
3. Is the penny still being produced?
Yes, the U.S. Mint continues to produce pennies. In 2021, over 7.6 billion pennies were made, even though the cost to produce them is higher than their face value.