U.S. Mint Creates Shiny, New Penny

U.S. Mint reveals new design

The U.S. mint is releasing a new penny — which  features a new design honoring the 16th president of the United States, Abraham Lincoln — into circulation today.

This design is the second of four new penny designs that the U.S. Mint is releasing this year to honor Lincoln’s 200th birthday.

The new design

The new penny, which was unveiled in a ceremony this morning in Indiana, features a picture of Lincoln reading a book as he takes a break from rail splitting.

The front of the penny will remain unchanged, still showing the profile of the Lincoln bust. The first honorary design was released in February and features a picture of the log cabin where Lincoln grew up in Kentucky.

A penny saved

There is a bit of controversy surrounding the new penny designs, as it costs the U.S. Mint more than 1 cent to make each penny. Many Americans agree that the penny is becoming obsolete and useless as it has so  little value now. It doesn’t make sense for the U.S. Mint to have to take out installment loans to pay for making money.

Many taxpayers say that , considering it costs more to make a penny than it is worth, the U.S. Mint making more is not a spending decision.

The other side of the coin

Of course, there are also plenty of people in favor of pennies, particularly ones that honor Lincoln.

Historians, politicians and many others are fascinated by Lincoln. In English, only Jesus and Shakespeare have had more books written about them.

Future designs

Two more new penny designs that depict different stages of Lincoln’s life will be released this year.

The next design to be released shows Lincoln standing in front of the Illinois capitol. The last design will show him in front of the unfinished federal capitol, which was built during his presidency.

About the U.S. Mint

According to Wikipedia:

The United States Mint primarily produces circulating coinage for the United States to conduct its trade and commerce. The main Mint facility is located in Philadelphia, Pennsylvania, and branch facilities are located in Denver, Colorado; San Francisco, California; and West Point, New York.

The entry also notes that the U.S. Mint is not responsible for printing paper money. The U.S. Mint only creates coins. I suppose that is one explanation for why the Mint wants to continue making pennies, despite their minuscule value. Pennies account for about a pretty hefty percentage of the U.S. Mint’s responsibilities.

About Lincoln

Also from Wikipedia:

(Lincoln) successfully led the country through its greatest internal crisis, the American Civil War, preserving the Union and ending slavery. As the war was drawing to a close, Lincoln became the first American president to be assassinated. Before his election in 1860 as the first Republican president, Lincoln had been a country lawyer, an Illinois state legislator and a member of the United States House of Representatives.

I suppose that explains why the U.S. Mint, American leaders and several United States citizens believe Lincoln should be honored.