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No More Pennies?
Gothat3rs
Posts: 104 ✭✭
I keep hearing and reading that pennies will not be made after 2026. If this is the case what everyone's take on there value? Will the cost of rare examples go up because of this?
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No affect on value. The experiment has been done before with the Euros and the like.
And no 2026 coins has no bearing on the supply of 1909-S Lincolns.
Any effect on value in the long run would be negative if the absence of cents decreases the number of future cent collectors.
Has the absence of 2 and 3 cent coins helped their value?
For other opinions, you could check out the several previous forum threads about this.
This is not a political statement. Modern coins are not a product of politicians but of countries no matter who authorizes them or who is depicted on them.
No, they probably will not be made after 2026 or perhaps sooner. A small measure of sanity will return to the concept of 1 cent.
Yes. There will most likely be a reawakening of existing one cent coins. I doubt there will be a huge move because most of the rarities are known quantities and increases in demand are unlikely to be large at least at first. But there are numerous more modern one cent coins that have never had much demand so any uptick is likely to have an outsized effect on pricing. If you don't believe this try finding a nice MS-65 1971 or 1968 one cent coin. Many of the memorials are elusive in nice condition and now most of the mint sets are gone and the surviving pennies tend to usually be tarnished.
Let's round everything to the dollar to start. Help with the inflationary destruction of value so many seem to support.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
round up gasoline!
Not sure what yall are thinking... I am voting they round down!
Side note, the intentional marketing of items at 3.99, 4.99, etc is used for psychological manipulation in business. To expect they round 3.99 to 4.00 and 4.99 to 5.00 is a more radical assumption than you may think.
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
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Not to shock you or anything...maybe you should sit down for this but the US Mint has never produced pennies (edit to add: as US Coinage for official US circulation...the US has produced coinage for other countries duh). I could understand a little intrigue or surprise in the late 1700s, but not in 2025.
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
If the mint calls them pennies that's good enough for me.
"The penny was one of the first coins made by the U.S. Mint after its establishment in 1792. The design on the first penny was of a woman with flowing hair symbolizing liberty." -- https://www.usmint.gov/learn/coins-and-medals/circulating-coins/penny
Round it all up I say. We should all want to pay more, more, more. THKS!
If the mint calls them pennies, we have to also.
This does not make cents...!!!!
100% agree. This "cent" snobbery must end.
Yup. Right from the Mint web site for the 2025 Uncirculated set
I saved a bunch of San Francisco Mint cents of these years from circulation.
"Seu cabra da peste,
"Sou Mangueira......."
Nope. Sloppy poorly informed government information is not my go to source, I'll stick with reality like the TPGs do, I have a Lincoln Cent collection, which is the most recent of the small cents, following IHC and Flying Eagles, that replace large CENTS. Purchase a 2026 Red Book and read it. If you still have doubts look at the coins -- mine say ONE CENT on the reverse.
Or they say both One Cent , and 1/100.
The snobbish Penny should just stay across the Pond where it belongs.
Language evolves. When everyone calls them pennies, they are pennies.
English pennies are now cents since they switched to the decimal system, by the way. But they still call them pennies.
Language devolves too.
Everyone calls them pennies? Lol.
The day that everyone speaks in Ebonics, I'll give in and start calling them pennies.
You don't have to call them pennies. You don't have to call them cents either. But that's different than criticizing people who do...
On a related note:
peacockcoins
legally they are defined as cent
You mean you didn't tell your mother that there haven't been pennies in the ground since the 18th century?
Great, now someone's gotta go fix all these trays.
Evidence from other countries which have recently abolished their lower denominations of coins: no, it does not cause an immediate surge in value for "rarities". There might be a short-term price spike for the more common coins, as everyone rushes to "complete their set before it's too late", but once everyone's done that and the new cent-less reality sets in, no-one will think about them any more. Long term, I would expect to see a reduction in value as the current generation of penny-mad collectors die out and aren't replaced: supply stays the same but demand drops, leading to an inevitable decline in value.
RE: rounding: jacrispies is right. The psychological effect of "$3.99 is much less than $4.00" will remain inside the human brain, despite the lack of 1 cent coins to receive in change. Again from experience in other countries: the pricing in the supermarkets will likely remain completely unchanged, with any rounding happening at the end when you pay, and even then the rounding will only happen if you pay in cash, since the banks will still keep your accounts tot he nearest cent. I'm from Australia, and the only places where you noticed the difference when the 1 cent and 2 cent coins were withdrawn, was in fast food places, dollar stores, or other venues where purchasing just one item is common, where prices fell from $1.99 to $1.95. Even today you go into McDonalds or KFC and everything on the menu has a price ending in ".95".
Or to look at it another way: right now, the price of fuel is charged to the fraction of a cent, despite the clear absence of 1 mil coins to pay for that fraction-of-cent. THis practice is not going to change, just because the 1 cent coin no longer exists.
RE: cent versus penny. In accordance with the long-standing PCGS Treaty of 2002, using the word "penny" in place of the "cent" is acceptable here in the US subforum, since there is no ambiguity as the two words mean the same coin. Using it in the World and Ancients forum (where the two words usually mean completely different coins) is forbidden, and transgressors will be shot. Or at least have a very stern finger wagged at them.
Roman emperor Marcus Aurelius, "Meditations"
Apparently I have been awarded the DPOTD twice.
Penny says hello
https://www.autismforums.com/media/albums/acrylic-colors-by-rocco.291/
So, your criticism to those who call them cents are guilty of "cent snobbery"?
Ok ✓
"Penny" is a slang word when applied to US coins while the proper technical and legal term is "cent". It's like "buck" versus "dollar" or "cud" versus "die break".
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
...nickel vs five cent piece
Demonstrably false. My criticism of people who COMPLAIN ABOUT people calling them pennies is to call it snobbery. I have never criticized anyone who calls them cents (or pennies).
I thought it was buck vs doe...
Although a buck isn't a lot of dough these days...
Either cent or penny is fine here as well, have a good day all 😉
In 1857 the end of the large cent started a boom in coin collecting for the first time in the United States. Could that happen again? Who knows? Most people seems to interested in gold and silver these days.
I completed a one a year date set at Summer FUN. It was a fulfilling experience to finish it.
Excellent point but I don't think it's so cut and dried. Most countries didn't have coins that everyone stopped collecting suddenly. When they did it did not apply to the smallest denominations and then all those coins that weren't collected got a big boost (except the smallest denominations which are almost invariably saved in substantial quantities and quality).
We have a unique situation here. People quit collecting US coins after 1965 and this very much applies to one cent coins as well. Yes, due to the the low denomination there were still many set aside each year but most of these coins were very low quality, have already tarnished, and have a very spotty supply with hundreds of thousands of rolls of some dates and very few of others. There are no collections to supply quality coins so all we have for supply is BU rolls and mint sets. Some dates are very elusive in nice pristine condition from either of these sources. Even a little bit of "people completing their sets" will show some dates are not readily available in nice condition. But more importantly there are so few of these sets in existence any nominal increase in set building is a large percentage increase in demand.
I can hardly imagine the effect of dozens or even hundreds of people rushing out to buy 1968 cents in MS-65. There is no market and slabbed coins are so far out of the money there is no market for these either. Retail price guides list these for $1 but actually getting one will prove quite challenging. Even being willing to pay more won't be helpful unless you pay up for an in the money slab. People forget that _"a $1 modern can't be sold until it's slabbed so is a $19 liability rather than a 1c or $1 asset". _
To put this more simply there has been no significant percentage increase in the demand for low denomination coins in other countries when they were eliminated. The potential in the US is for a stunning percentage increase because there are so few who actually collect pennies made after 1958.
Ditto from across the ditch in New Zealand. I challenge you to find anyone who misses the 1 cent and 5 cent coins.
Smitten with DBLCs.
No more "pennies" because it didn't make sense to continue making Cents...
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Disagree. Your argument boils down to: is going to be different this time.
I agree with your comment considering that my Lincoln cent collection only goes up to 1958 other than for some die varieties, like the 1972 doubled dies and such. I don't really expect any impact on prices. I was going to say that you made sense, but discussing cents, though it just too much.
Round and round we go.....
Expect everything to be rounded up. At least in my experience each transaction that did NOT include the cents returned in change... resulted in rounding UP. Example; .... item costing 0.96 resulted in being charged a dollar, NOT 0.95. I suspect businesses will be making the customer pay the extra.... instead of taking a penny loss!
Don't get me wrong... it was time to make the change (pun intended) to eliminate the cent. Probably time to think about the nickel also.
False.
Now that that bit of pedantry is out of the way, what something is and what it's called can be two different things, as Alice discovered in a conversation with the White Knight. Flying Eagle cents were contemporarily called nicks.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
"Nicks"? Interesting, I'd never heard that. Makes sense, actually.
Thanks
And nickels are called, well, "nickels" even though they are mostly copper. 😉
Unless they’re “Three Cent Nickels” or “Nickel Three Cent Pieces”. 😈
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I am so glad I could drop by the forum and ruffle feathers and create controversy. I guess I should correct my statement by saying something like US coinage for official US circulation? HA HA HA Good try
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
Of course, I knew what you meant, but I keep that in my back pocket whenever someone tries to pull the old "the US mint never made pennies" bit. Nobody's exempt from this.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
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"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin