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The penny, also known as the cent, is a coin in the United States representing one-hundredth of a dollar.It has been the lowest face-value physical unit of U.S. currency since the abolition of the half-cent in 1857 (the abstract mill, which has never been minted, equal to a tenth of a cent, continues to see limited use in the fields of taxation and finance).
Due to inflation, one nickel in 2017 was worth approximately what a penny was worth in 1974. [1] When the United States discontinued the half-cent coin in 1857, it had a 2023-equivalent buying power of about 16 cents. [1] After 1857, the new smallest coin was the one-cent, which had a 2023-equivalent buying power of 33 cents.
The Lincoln cent (sometimes called the Lincoln penny) is a one-cent coin that has been struck by the United States Mint since 1909. The obverse or heads side was designed by Victor David Brenner , as was the original reverse, depicting two stalks of wheat (thus "wheat pennies", struck 1909–1958).
The main mint is the Philadelphia Mint, which produces circulating coinage, mint sets and commemorative coins. [1] The Denver Mint also produces circulating coinage, mint sets and commemoratives. [2] The San Francisco Mint produces regular and silver proof coinage, and produced circulating coinage until the 1970s. [3]
The Coinage Act of 1792 established the United States Mint and regulated the coinage of the United States. [3] The act created coins in the denominations of Half Cent (1/200 of a dollar), Cent (1/100 of a dollar, or a cent), Half Dime (also known as a half disme) (five cents), Dime (also known as a disme) (10 cents), Quarter (25 cents), Half Dollar (50 cents), Dollar, Quarter Eagle ($2.50 ...
Two of the first coins to be produced at the first U.S. Mint just raked in a whopping $870,000 at an auction in Anaheim, California. ... and a 1792 Birch cent, one of only 10 in existence, raked ...
Pearlman used the NGC Price Guide to estimate the current retail value of a 1955 Doubled Die Lincoln cent at a range from $1,000 in worn “About Good” condition to $85,000 in Mint State 66 with ...
The 1974 aluminum cent was a one-cent coin proposed by the United States Mint in 1973. It was composed of an alloy of aluminum and trace metals, and it was intended to replace the predominantly copper– zinc cent due to the rising costs of coin production in the traditional bronze alloy.