Brian's Blog

04 Nov 2016

The $1,000 Penny Treasure Hunt

Odd & Curious Money | Brian

Pennies, America's most worthless coin. When the initial Lincoln Cents were released in 1909, they were worth about as much as a modern quarter. However, after over a hundred years of inflation, the value of the penny has significantly dropped, it now costing 80% more of the face value just to make them. Half of all new pennies are removed from circulation each year, falling behind couch pillows, being left at the bottom of purses, falling into gutters, etc. Some countries have even eliminated their pennies altogether. Now that we have the backstory of the penny and it's decline, it's time to talk about this "treasure hunt" I mentioned in the title. As a numismatist, whenever I see a coin lying on the sidewalk, I pick it up to check the year, mintmark, and condition. But recently even I have stopped picking up pennies, bending down and picking them up isn't really worth it anymore, especially in major cities. However, Ally Bank is trying to change that. 100 fake pennies have been placed across 10 major US cities, and if you find one, you can redeem them for $1,000 on the Ally Lucky Penny website linked below in the sources. The part that really stuck out to me was that even if you redeem one, you get to keep the penny, and they may hold some numismatic value in the future since only 100 will be made. You can find them in Los Angeles, San Diego, Denver, Austin, Detroit, Charlotte, Washington DC, and where I'm keeping an eye out, New York City. Hints are being posted to Ally Banks social media accounts so if you want to find one, check those every one in a while. Happy hunting!

    No tags are being used.
We use cookies to provide users the best experience on our website. If you continue without changing your cookie settings, we'll assume that you agree to receive all cookies on money.org. You may disable cookies at any time using your internet browser configuration. By continuing to use this website, you agree to our privacy policy and terms of use. To learn more about how we use cookies and to review our privacy policy, click here.