Lost Penny Day
/“A penny will not buy a penny postcard or a penny whistle or a single piece of penny candy. It will not even, if you’re managing the U.S. Mint, buy a penny.”
Shiny Lincoln Pennies
Lost Penny Day is tomorrow. It’s an inane, faux-holiday created by a self-proclaimed ‘eventologist’ who enjoys creating crazy holidays to celebrate. It focuses on spending time during the day hunting for lost pennies that are in the bottom of your purse or stuck under sofa cushions, lying on the sidewalk, under the seat in your car, etc. It’s celebrated each year on February 12th, Abraham Lincoln’s birthday. Lincoln was the first American president whose image appeared on a coin, notably the Lincoln Penny, which was first struck in 1909, in commemoration. But I’m not thinking about just a few pennies that are lost. I’m thinking about ALL pennies.
The U.S. Mint produced the first copper penny, known as the Fugio cent or the Franklin cent (it was purportedly designed by Ben Franklin), back in 1787. On the coin were the mottos “Fugio” (I flee) and “Mind Your Business”. Franklin was encouraging his countrymen in America to work hard and not waste time. You know… ‘Take care of the pennies, and the pounds take care of themselves.’
Billions, probably closer to a trillion pennies, have been minted since that time. And then, on November 12th, 2025, the last pennies were struck at the Philadelphia mint. Since it cost nearly four cents to make one penny, discontinuing its production was long overdue. Several countries stopped producing pennies long ago. Canada (2012), Australia (1992), and New Zealand (1990), for example, phased out pennies, citing high production costs and low purchasing power as major reasons.
According to the US Mint website, “The final, ceremonial penny, featuring an Omega symbol ( Ω ) to signify the end of production, was struck by U.S. Treasurer Brandon Beach, ending a 232-year era of production... with special sets including the final copper-plated zinc cents from Philadelphia and Denver, plus a unique 24-karat gold Omega penny, sold in December 2025 for millions at auction.”
I pick up pennies off the sidewalk. Do you?
I wondered if many people still stoop down and pick up pennies off the sidewalk. I do. Do you? ‘Find a penny, pick it up, and all day long you'll have good luck.’ I’m constantly on the lookout for wayward pennies.
“Surveys indicate that over half (56%) of Americans will stop for a penny on the street, often driven by superstitions about luck, habits, or frugality. While older adults (over 55) are more likely to pick them up, younger generations are less inclined.” According to yougov.com “While seven in ten adults over 55 say they stop for pennies, less than four in ten millennials do the same.” They don’t think it’s worth their time.
Me? Though it was reasonable to discontinue them, I’ll miss shiny pennies. No more a penny for your thoughts… now we’ve upped the ante - it costs a nickel. No more throwing in your two cents’ worth… again, it’ll cost a nickel. No more getting pennies in change from a $9.98 purchase… it’ll cost you $10 even. No more ‘every penny counts’ or ‘it’s worth every penny’ or ‘that sure cost a pretty penny.’ Young kids and babies born in future years may not even know what pennies are.
It’s estimated that there are still ~250 billion pennies in circulation, so we’ll see them for a while longer, although some conjecture that 65,000,000+ pennies get lost, end up in a loose change jar, or in someone’s collection every year.
By the way, it costs more than a dime to make a nickel. I wonder if the nickel will be next?