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$tarCollector's Blog

02 Feb 2022

US Mint Likely to Discontinue the Lincoln Cent in 2023

Young Numismatists Exchange | $tarCollector

Novice Numismatics blog


Late January 2022


News Report:

I have searched for an article worthy of this tri-monthly blog, and this one is the one I finally decided upon.
This issue is about how the Penny will likely be discontinued for circulation in April 2023. This may come was surprising to you, or you could have expected this. The Penny will be continued for proof sets but will stop being minted on April 1, 2023. No, this is not an April Fool's day joke, this is real. And in my opinion is that it is sad. Here is a brief history of the Cent/Penny.

In 1787, the Fugio Cent, a very popular coin, was created. The entrance of this coin created the size for the first Large Cents in 1793 and was used for most Cents of that era.

In 1793, the first Cent was ever minted at the US Mint in Philadelphia. This coin was minted in the Cent size of that time, what we now call Large Cents, were very well designed coins. I would say it was a good design for that year.

In 1856, the first Small Cent was created. During this time the Large Cent was still being minted up until 1857. The design was called the Flying Eagle Cent and was designed by James B. Longacre.

In 1859, the Indian Head Cent design, which was used for the next 50 years, was designed by James Longacre as well, became a popular design and was accepted much better than the Flying Eagle Cent.

In 1864, two things happened of major importance. 1. The Mint added the initial L for Longacre halfway through the minting year, creating a rare variety. 2. The Mint created the first coin with the motto "In God We Trust" which is used on coins today. I mention this because the Two Cent piece, a close neighbor to the Cent, was this coin.

In 1877, wait what! You make know there was nothing as much as a design change during this year, but the most valuable Indian Head Cent, the 1877 (P), was minted in this year, and is very popular to collectors because of the suprisingly low mintage.

In 1909, you probably know what happened in this year. Three words: the Lincoln Cent. This coin is the oldest unchanged obverse we use in circulation. The reverse has been changed twice majorly(not including 2009 cents), but Victor David Brenner's depiction of Lincoln has stayed the same.

Now for history on the Lincoln Cent we're going to switch to Old Moke's blog, sort of like a crossover, so I don't make it to long, click the link below to continue.

https://www.money.org/collector/user_15476/blog/

And if you have visited Mokie's blog then you have the history of the Lincoln Cent. Now why is this sad? Think about the history. One of the oldest, most historic, and having lots of rarities, the Cent is an important part of US history that we should try to preserve. But, do to inflation, it has to be removed. Now this is the saddest for collectors who own varieties of Cents, and want to own more, newer, rarities or errors, but if we could stop the inflation which "birthed this sadness" then collecting would continue of later date Cents, so all though this is sad, there is nothing to be done.

Counter Action:
I am hopeful for the removal of a coin that causes an average person to dig through their change to find Pennies to pay with. This may be sad for a few people, but for average Americans it will remove the lowest denomination of coin, making it much easier to pay fo things. The Mint removed the Half-Cent in 1857 due to rising copper prices but also inflation, but I'll bet that it was an even more annoying coin to pay with, picture this: $7.59.5. That is typed, seven dollars and fifty-nine point five cents. Imagine that. Years later, our grandchildren will be glad, like we were about the Half-Cent, that the Penny and even possibly the Nickel was removed from circulation. They will not even know what it was like with the Penny. I think the Mint is being smart with this. Thanks for reading,

Novice Numismatics Writing Team

This article in this series is written by Novice Numismatics Writing Team

P.S. sorry this was late in.

Comments

CC

Level 4

Maybe it would just be like how half dollars are now-NIFC cents, so the mint still makes them but for private sale. Though I would miss going through cent rolls.

CJ Collects

Level 2

I can’t believe it :( No more penny roll searching. It also greatly changes the way we will have to pay for things if we don’t have anything below a nickel.

$tarCollector

Level 4

It is sad because the government has recently realized that they do not need to use precious metals in coins to make them valuable. Now they want to remove a coin that is not giving them profit.

AC coin$

Level 6

Great blog . Good job . You are the future of our collector community.

Longstrider

Level 6

Another year another the cent will be discontinued. Year after year. Time after time.

It's Mokie

Level 6

I am all for it, although I very much doubt it will happen next year or any year in the forseeeable future. I think the vast majority of existing Cents are not used in commerce anyway, they just exist in glass jars and shallow dishes all over this great land. There value to commerce has diminished with the loss of their spending power over the years.

$tarCollector

Level 4

Although they will still be in Proof sets, it really won't be the same.

Long Beard

Level 5

This has been flying around the many forums for years, again in great frequency as April Fool's day approaches. I highly doubt an outright elimination before a possible composition replacement. Say aluminum, which has been done in 1942 and 1974. Not to mention a few dozen times since the 1800's on trial pieces. As for the mint only caring where intrinsic value is concerned, we're talking about coinage struck for commerce- not collectors.

Kepi

Level 6

This Cent business has been said many times but time will tell. Who knows what our crazy Mint will do... ; )

thatcoinguy

Level 5

I hope not. I enjoy sorting through rolls of CENTS! 😒

Anakin104

Level 4

Wow. Cent prices will go up a bit if thay happens! I collect pennies and hope to finish before 2023

coinsbygary

Level 5

The removal of circulating cents is sad. I think the mint is looking at economics rather than history. Perhaps the cent is more expensive to mint than one cent. The only time the mint seemed to care about intrinsic value was when the metal was worth more than the denomination on the coin. I wonder if they are taking their cue from Canada and following suit. Intrinsic value never comes into question with proof coins since they come at a premium. Sadly there will not be any more dates to plug into Whitman folders.

I. R. Bama

Level 5

What Mike said.... Word.

Mike

Level 7

Please say its not true. The CENT as it is called goes back to the beginning of our history. Were did you read this? So now there going to make us pay for them in the different sets. No more 19.99. Everything will go up a nickel.. Did they think of that? So the mint is going to make us pay. I'm not in favor of it. Look at all the kids who roll cents for money. Its a shame I have always been a fighter for the cent. Thanks for the information. All they had to do was cut down on production and save money. There is more copper in the nickel and other coins. Good blog my friend.

CheerioCoins

Level 5

Yeah. I think sooner or later the mint will abolish the cent. I am getting penny rolls before they abolish them. Thanks for telling us.

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