They aren't "pennies", they are cents. Pennies were British until they decimalized in 1970. Metric coinage was an American innovation; 1 dollar = ten dimes = 100 cents.
One cent in 1960 had the buying power of 10 cents today when adjusted for inflation. That means they had nothing smaller than a dime in buying power, and they didn't descend into chaos or have people wind up destitute from losing the ability to get change back of a smaller unit. Nobody even considered it. We can do the same by simply eliminating the last digit on every price. Just cover up that last number on the register with some black tape and move on. It would save the government billions by the end of the decade.
I'm about to put some error and variety coins on eBay for auction/sale. Knowing this, I will hold onto some of them because they will be, more rare, than what they are now. Thanks for the information, love this video !!!
The 1909 Indian Head Penny is rare, that was the last year of the Indian Head Penny, 1909 is also the first year of the Lincoln Penny. If your coin happens to have the "S" Mint mark for San Francisco, you have an even more rare coin.
although i agree it cost more to make, but i wonder if we can chance losing more jobs in this country. also, how many business will be affected by the closing of that plant and it's suppliers? like where the employees shop? it's always a domino effect when a business closes.
linda boyce The penny is deadweight on our economy. It has no value, but we make billions of them. We are all subsidizing Coinstar and the zinc industry.
I used to have one of those big pennies. It hurts to know someone stole it. It had been handed down through the family for years & now it's gone, along with all my other old coins. Used to have a pile of silver dollars too.
one penny may not buy anything, but remember, 100 pennies = dollar; 500 pennies = $5, 10,000 = $100. In otherwords a collection of pennies do have value. The reason the penny costs more to manufacture than it is worth is because the Federal Reserve sets the value of our money that way, debt is a good thing to the Fed. Coins are assets to the Fed where as bills are liabilities, the Fed hates coins. By the way, the Penny is retiring after 2023.
Really.. What do you think when go to the gas stations. 2.33 one day 2.48 the next day 2.41 now. Then the your taxes are taken to make the money/penny. It costs the tax payer 2.8 mill or bill to make worstless change. Money could build school's better health care. Early retirement. There's old ppl 72 and above working to pay for health meds. Wake up ppl. We pay taxes we pay for every other countries problems. I believe that when you turn 62 you should get a million dollars from the government to help in your last days for helping with taxes. It would create so many jobs. So much more creative idea's.
Just imagine if every single thing you bought was rounded up a few cents. it might not seem like much at the time but when it comes down to it you'll be losing lots of money
The United States has never issued a penny, those were British. The original composition of U.S. cents and half cents was pure copper, but only through 1857. The first small cents of 1856 through mid 1864 were 88% copper, 12% nickel which was changed to a bronze composition which was used from 1864 through mid 1982 with the exception of 1943.
Pennies aren't decimal, cents are. Half cents were among the original denominations of U.S. coinage as specified in the Mint Act of 1792 and were used to make change for the Spanish equivalent of one real or 'bit. The United States dollar was based on and traded at par with the Spanish dollar until 1857. The U.S. dollar had decimal divisions of 1 dollar = 10 dimes = 100 cents and 10 dollars = 1 eagle. The half dollar, quarter dollar and half cent were issued to conform to the Spanish divisions of eight reales to the dollar, or "two bits, four bits, six bits, a dollar. One 'bit' was the decimal equivalent of twelve and one half cents.
This 'Americans for Common Cents' guy is a robot fueled by Jarden Corp.... He admits Americans are reluctant to change! Jarden has a lot of business operations other than the penny blanks. They will lose nothing if the penny is retired
So, by “history of the penny” you mean 1/4 of the video is vaguely about the history of pennies, but the real story is a propaganda piece oriented around contemporary assertions that we eliminate it. While “nothing cost a penny” is technically true, almost everything cost prices ending in 1-4 or 6-9. If you do not want pennies, you round up the price on everything you buy and tell the cashier to keep the change. As for me, I want my pennies.
Pennies were British. According to usinflationcalculator.com , one cent of 1990 would be equal to more than two cents today. Nobody needed half cent coins in 1990, we do not need one cent coins today.
Brian Rothhammer “Pennies were British” is a genetic fallacy. The rest of what you said does not follow. Inflation is not a reason for the elimination of currency. Why not also eliminate nickels? Name something that costs a nickel. What about dimes? Gum ball machines don’t even take dimes. Most people don’t carry change. Let’s just round it up to dollars. It’s a sloppy slope to eliminate the singular unit and then think multiples of that unit will not follow suit.
Brian Rothhammer btw. I’m not making a slippery slope fallacy. I’m saying eliminating the penny will lead directly to wanting to elongate the nickel. Here’s evidence. www.wsj.com/articles/should-the-u-s-retire-the-penny-and-nickel-1521425100
@@comichound The Half Cent was eliminated in 1857 and everyone got along just fine. Pennies were British. That is fact. The rest of your argument is absurd, history demonstrates otherwise.
The first U.S. 'Nickel' was the Three Cent Nickel of 1865. The Five Cent Nickel was introduced in 1866 and issued concurrently with the silver Half Dime. The current five cent 'Nickel' is no longer cost effective at its present weight and composition and could be replaced by an alternate five cent coin.
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Yeah, let's get rid of the penny. Or wait... let's get rid of the nickel too! Or how about... hmm... let's get rid of the dime also. Let's get rid of the quarter as well. I think we should just round up our money to the nearest 1,000,000.00$ and call it a day
@@michaelharrington75 thats expensive. i have every business struck cent minted 1879-1958, 32-58 in full red bu. have some bu before too... and older before 79. 75 65 64 63 59, 58 57 flying eagle and a 52 braided hair
The United States Mint produces several coins each year, including commemoratives, for sale to collectors. There is no need to produce billions of cents for people to throw away. They could still be produced in sets for collectors as are the current one dollar coins: www.usmint.gov/
I'm very jealous, I'm a collector of all currency all over the world. I started collecting with my grandmother, when she died, I just kept going.
I am shocked He allowed her to pick it up over a stone table. INSANE!! One drop, Value drops many thousands. Also, there are not pennies, but cents.
Forgot to add, "a penny saved is a penny earned"
video ends at 1:28. no history after that, just talking about getting rid of the cent.
They aren't "pennies", they are cents. Pennies were British until they decimalized in 1970.
Metric coinage was an American innovation; 1 dollar = ten dimes = 100 cents.
Not one single penny was shown in this "history of the penny" video. This was the history of the American cent.
If you were in the Air Force, you'd be a Technical Sargeant being so technical.
One cent in 1960 had the buying power of 10 cents today when adjusted for inflation. That means they had nothing smaller than a dime in buying power, and they didn't descend into chaos or have people wind up destitute from losing the ability to get change back of a smaller unit. Nobody even considered it. We can do the same by simply eliminating the last digit on every price. Just cover up that last number on the register with some black tape and move on. It would save the government billions by the end of the decade.
The government waste money all the time. I say keep the cent. At least we have something to show for the waste.
The Indian head is not actually a depiction of a Native American, but rather a depiction of lady liberty wearing a native head dress.
I'm about to put some error and variety coins on eBay for auction/sale. Knowing this, I will hold onto some of them because they will be, more rare, than what they are now. Thanks for the information, love this video !!!
Australia stopped use a one-cent coin in about 1990. No-one missed them for a second.
yea well i know people that have like 100$ in pennies if people stopped using pennies there goes $100
The only began using one-cent coins in 1966
What really drives me nuts about this video is it isn't a penny it is a cent. The British mints pennies. The US mints cents.
Yeah, not one penny was shown in this video, nor was the history of the penny told.
I like nickels. I like old pennies though. My oldest one is a 1909 indian head and I think the oldest coin I have is a 1836 coin from Mexico.
The 1909 Indian Head Penny is rare, that was the last year of the Indian Head Penny, 1909 is also the first year of the Lincoln Penny. If your coin happens to have the "S" Mint mark for San Francisco, you have an even more rare coin.
I have a 1864 2 cent penny and that’s my oldest penny no bragging
Cents.
But if you need to give somebody 41 cents there you go
Thank you CBS sunday morning
The obverse portrait on the flowing hair penny looks like Beetleguese.
beetlejuice*
Don’t get rid of the penny
Without the atom you can't have matter
I like pennies.
+Omparkesh Kohli to
Jennifer Zatwarnicki jhhhjjj
Jennifer Zatwarnicki AHHHHH
although i agree it cost more to make, but i wonder if we can chance losing more jobs in this country. also, how many business will be affected by the closing of that plant and it's suppliers? like where the employees shop? it's always a domino effect when a business closes.
linda boyce The penny is deadweight on our economy. It has no value, but we make billions of them. We are all subsidizing Coinstar and the zinc industry.
@@CurtisDensmore1 Absolutely correct.
Half truths only go so far….
Gas is already rounded up.
Yeah🗽🇺🇸🇻🇳 🏆💴💵💸💶💷💰💳💎
I think so haha 😂
I don’t care, I just wanted to see how they looked
Here from online school work
Ooh, a penny! You know what they say-
I love pennies, don’t care if it’s useless it’s money!
I used to have one of those big pennies. It hurts to know someone stole it. It had been handed down through the family for years & now it's gone, along with all my other old coins. Used to have a pile of silver dollars too.
They're called large cents. What year was the one you had?
He should certified the pennies.
my oldest penny is 1793 CHAIN CENT
If you owned a 1793 Cent, you'd know it's not a 'penny'.
@@-oiiio-3993 ill stand by you on this one
I have a 1962 Canadian penny and I live in texas so I think that’s cool
@Celestial YT Cent.
Cent.
Round to the nearest dime! I wouldn't mind rounding to the nearest dollar (for a transaction, not for each item).
Keep the penny!
Why?
Collect Lincoln cents. My favorite coin.
one penny may not buy anything, but remember, 100 pennies = dollar; 500 pennies = $5, 10,000 = $100. In otherwords a collection of pennies do have value. The reason the penny costs more to manufacture than it is worth is because the Federal Reserve sets the value of our money that way, debt is a good thing to the Fed. Coins are assets to the Fed where as bills are liabilities, the Fed hates coins. By the way, the Penny is retiring after 2023.
Let them both go. Save money
Really.. What do you think when go to the gas stations. 2.33 one day 2.48 the next day 2.41 now. Then the your taxes are taken to make the money/penny. It costs the tax payer 2.8 mill or bill to make worstless change. Money could build school's better health care. Early retirement. There's old ppl 72 and above working to pay for health meds. Wake up ppl. We pay taxes we pay for every other countries problems. I believe that when you turn 62 you should get a million dollars from the government to help in your last days for helping with taxes. It would create so many jobs. So much more creative idea's.
Just imagine if every single thing you bought was rounded up a few cents. it might not seem like much at the time but when it comes down to it you'll be losing lots of money
Brandon Love Nope. Rounding goes in both directions. You'd break even.
Rubbish. And that is the overly paranoid attitude which stops any change from happening.
It survived gutters, dressers…..
I only like the penny because it has Lincoln on it
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Hes on it because of the homestead act one law system and the coins turn there back thats way he face the opposite way
lol 0.7 not 1.6 they stopped using copper in pennies in 1982.
YoloBagels lol
The United States has never issued a penny, those were British.
The original composition of U.S. cents and half cents was pure copper, but only through 1857.
The first small cents of 1856 through mid 1864 were 88% copper, 12% nickel which was changed to a bronze composition which was used from 1864 through mid 1982 with the exception of 1943.
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Britain use to have a decimal half penny
Pennies aren't decimal, cents are. Half cents were among the original denominations of U.S. coinage as specified in the Mint Act of 1792 and were used to make change for the Spanish equivalent of one real or 'bit.
The United States dollar was based on and traded at par with the Spanish dollar until 1857. The U.S. dollar had decimal divisions of 1 dollar = 10 dimes = 100 cents and 10 dollars = 1 eagle. The half dollar, quarter dollar and half cent were issued to conform to the Spanish divisions of eight reales to the dollar, or "two bits, four bits, six bits, a dollar. One 'bit' was the decimal equivalent of twelve and one half cents.
I’m only watching this because of my penny debate essay 💀 y’all give me some ideas
Gloves on, said Amazon to wish. Ow
People thought her hair was too wild
At least don't get rid of the already made ones
We let em.
Have it. Ei
Save the pennies
Pennies were British.
They abandoned them for decimal coinage in 1970.
Noway!
canada??? LOL!!!
This 'Americans for Common Cents' guy is a robot fueled by Jarden Corp.... He admits Americans are reluctant to change!
Jarden has a lot of business operations other than the penny blanks. They will lose nothing if the penny is retired
KEEP THE PENNY'S
So, by “history of the penny” you mean 1/4 of the video is vaguely about the history of pennies, but the real story is a propaganda piece oriented around contemporary assertions that we eliminate it. While “nothing cost a penny” is technically true, almost everything cost prices ending in 1-4 or 6-9. If you do not want pennies, you round up the price on everything you buy and tell the cashier to keep the change. As for me, I want my pennies.
Pennies were British.
According to usinflationcalculator.com , one cent of 1990 would be equal to more than two cents today.
Nobody needed half cent coins in 1990, we do not need one cent coins today.
Brian Rothhammer “Pennies were British” is a genetic fallacy. The rest of what you said does not follow. Inflation is not a reason for the elimination of currency. Why not also eliminate nickels? Name something that costs a nickel. What about dimes? Gum ball machines don’t even take dimes. Most people don’t carry change. Let’s just round it up to dollars. It’s a sloppy slope to eliminate the singular unit and then think multiples of that unit will not follow suit.
Brian Rothhammer btw. I’m not making a slippery slope fallacy. I’m saying eliminating the penny will lead directly to wanting to elongate the nickel. Here’s evidence. www.wsj.com/articles/should-the-u-s-retire-the-penny-and-nickel-1521425100
@@comichound The Half Cent was eliminated in 1857 and everyone got along just fine.
Pennies were British. That is fact. The rest of your argument is absurd, history demonstrates otherwise.
The first U.S. 'Nickel' was the Three Cent Nickel of 1865. The Five Cent Nickel was introduced in 1866 and issued concurrently with the silver Half Dime.
The current five cent 'Nickel' is no longer cost effective at its present weight and composition and could be replaced by an alternate five cent coin.
one penny coin dollar
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australia one penny coin
Yeah, let's get rid of the penny. Or wait... let's get rid of the nickel too! Or how about... hmm... let's get rid of the dime also. Let's get rid of the quarter as well. I think we should just round up our money to the nearest 1,000,000.00$ and call it a day
You'd rather go back to the Half Cent?
It was abolished in 1857 and everything worked out fine.
Save the beautiful penny's 😀😀😀
Boooo. I love collecting pennies!!!
i have a 1746 penny.... People said its not worth no money
British?
i have a 1889 indian head penny
HoNey nUt I have a 1864 2 cent penny
I have 1877.
@@michaelharrington75 thats expensive. i have every business struck cent minted 1879-1958, 32-58 in full red bu. have some bu before too... and older before 79. 75 65 64 63 59, 58 57 flying eagle and a 52 braided hair
Tax!
There are some rare pennies
Cents.
@@-oiiio-3993 you replied to every comment you could didnt you
LEAVE IT ALONE so we can collect them physics nerd
The United States Mint produces several coins each year, including commemoratives, for sale to collectors.
There is no need to produce billions of cents for people to throw away. They could still be produced in sets for collectors as are the current one dollar coins: www.usmint.gov/
Ki
i did it better 👎
i agree
yeah your video titled "the penny documentary" was really entertaining, and much more in depth than this
thanks for the kind words guys