Stop Making Cents!
November 29, 2012 in Economics
For 103 years, the US Mint has been producing the Lincoln Cent~The longest run in US history and likely one of the longest currency runs in world history. The obverse (front) design has remained virtually unchanged since Lithuanian immigrant Victor David Brenner’s design was adopted in 1909. Over the years, mintage numbers have increased and at this point in time, literally “Billions and Billions” are in circulation today. This virtually ensures the impossibility of any shortage, even if the production of the Lincoln Cent were halted.
Considering the state of the Federal Government’s budget presently (Fiscal Cliffs and such), I question the wisdom of their continued production/minting. Incidentally, I am an avid coin collector and possess a wide variety of their variations through the years, but all good things must come to an end, especially when precious tax dollars are at stake. I firmly believe that this is one budget cut most Americans would favor, especially if Cent production were merely halted as opposed to ceasing the usage of the one cent piece in financial transactions. This may only be a drop in the bucket when it comes to the “fiscal cliff” yet this is also an obvious microcosm of how wasteful our current Federal Government has become~Spence