Years from now, if you want to know what someone is thinking, it might not work to say, “A penny for your thoughts…” With the penny on its way out, future generations likely will forget what that even means. Same with calling someone a penny pincher or warning them not to be penny wise and pound foolish, or that a penny saved is a penny earned. We won't even be able to say something cost a pretty penny.

As the penny becomes a distant memory, so will the imagery conjured up by these time-tested sayings. And don’t say we can just substitute “nickel” or “dime.” Those truly don’t have the same sentiment, flow, or sound to the ear. Nickel pincher? Eh. Dime for your thoughts? No.

The only phrase that might still work is, “He turned up like a bad penny,” because, well, a penny might turn up here and there—for a while anyway.

The Why Behind the Discontinuation

The discontinuation all comes down to the value of the penny not keeping up with the cost to produce it—and this has been the case for twenty years. 2006 was the first time it cost more than a cent to make a penny, at about 1.23 cents. The cost continued to rise—reaching 3.69 cents per penny—until the Secretary of Treasury made the call to discontinue production. And so, on November 12, 2025, the Philadelphia Mint produced the final batch for general circulation.

The nickel is the only other coin that costs more to produce than it's worth—at almost fourteen cents per nickel. A bill was proposed last year putting it on the chopping block as well, but so far no action has been taken.

Back in the Day

Pennies used to be worth something. When they were first minted in 1792, you wouldn’t have found a dish of them beside a cash register left behind and free for the taking. Those first pennies had value both in what they were made of and in what they could buy. Until the mid 1850s, pennies were 100% copper and almost the size of the modern half dollar, with a design featuring the head of a woman with flowing hair.
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With that big copper coin, people were able to buy a handful of nails, a loaf of bread, or some cheese.

In that same year, a half cent was minted which also was 100% copper and about the size of a quarter. It came in handy when buying things like a pound of potatoes which cost one and a half cents. The need for the half cent was fairly short lived and came to an end in 1857.

The design of the penny continued to evolve. Some of the biggest changes were in the 1850s with the introduction of the Flying Eagle cent and the Indian head cent, both of which were smaller and consisted of only 88% copper and 12% nickel.

From 1864 until 1982, the penny was made of bronze (95% copper, 5% tin and zinc)—except for 1943 when copper was needed for WWII ammunition production, so the composition briefly switched to zinc-coated steel.

It wasn’t until 1909 that Abraham Lincoln’s face appeared on the penny. He was the first president to be featured on a U.S. coin, and it was with the intent to honor what would have been his 100th birthday.

By the 1940s you couldn’t buy quite as much with a penny, but there were still things that cost a mere cent: arcade games, gumball machines, postcard stamps, and even an electric jolt to “juice yourself.” The jolt came from what was called an electric shock machine, which claimed to increase circulation, purify the blood, and improve health. An example of the machine is demonstrated on YouTube.

Starting in the 1950s, Bazooka Joe hit the candy shelves. For a penny, kids could buy not only a piece of bubble gum, but the bonus comic strip tucked inside. By the 1970s and 80s, the price doubled to two cents.
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A Part of our Lives

During its lifetime, the penny found its way into Americana. In addition to the already-mentioned sayings that colored our language, the penny left its mark on everyday culture.

Art

While used in various arts and crafts projects throughout its time, probably the largest and biggest display was as the 6th place winner of 2010 ArtPrize. The piece, titled Helping Mom One Penny at a Time, was created by Wander Martich of Grand Rapids who used 84,000 pennies to tell the story of how she and her children pinched pennies after her divorce.

Fashion Trends

In the mid the 1900s, the penny set a fashion trend. Loafer shoes with a diamond-shaped slit that was just the right size to hold a penny. Story has it that the slot was designed to hold coins to use in a payphone in an emergency. That tale turned out to be more myth than fact, however, since payphones never took pennies.

Superstitions

• Some believe that placing pennies in the corners of rooms can bring good luck or ward off evil spirits.

• Some place pennies under their mattress because they believe it will protect their finances and invite good fortune.

• Some toss pennies in a fountain and make a wish. This idea dates back to ancient times when people believed water sources had divine or healing powers

• Some follow the advice of, "See a penny pick it up, and all day long you’ll have good luck."

Though on the surface these appear fun and harmless, it's worth noting that many of these superstitions trace back to pagan culture.

First aid kit

Many believe if you tape an old, copper penny on a bee or wasp sting, it will counteract the bite.

Toolbox

• Use a penny as a makeshift flathead screwdriver.

• Put a copper penny inside a toolbox to inhibit rust and corrosion.

• Level a wobble by slipping a penny underneath a table leg.

• Check your tire tread depth by inserting a penny upside down into the tire groove with Abraham Lincoln’s head facing down and toward you. If you can see the top of Lincoln’s head, your tires are completely worn and need to be replaced ASAP. If Lincoln’s head is covered, then your tires still have more than 2/32nds of tread.

What Will You Do with the Pennies You Still Have?

Do you have a jar or piggy bank full of pennies that you’re wondering what to do with? You have options.

You could spend them. But what fun is that? You'll find that even though you have exact change (because of your plethora of pennies), cashiers are rounding your total when you pay in cash. For example, when I ordered a latte at Biggby the cashier told me my total was $6.14. When she saw me holding actual money, she said, “Oh, paying cash? That will be $6.15.” Having your total rounded up definitely is not the same feeling as having it rounded down.

Not in a hurry to impress cashiers with precise change? Then pull out the magnifying glass and look for treasure. There's always the chance that within your stash you have pennies that are valuable or rare.

Finding any of the following could bring in some dough:

• Wheat pennies, minted 1909 to 1958. Of those, the most valuable likely will be the 1909 SVDB or the 1914 D.

• 1943 steel pennies.

• Pennies with minting mistakes—an error or double die.

Or maybe you're the crafty type. Tile a floor, piece of furniture, or picture frame with your coins. Make a mosaic or piece of art. Craft jewelry from a penny with a meaningful date.

And if nothing else, you could save a handful as a keepsake for future generations—such as ones with certain years that mean something to your family.

For some, the loss of the penny is a necessary evolution as they look forward to a cashless currency system. For others, saying goodbye to the penny isn't as easy. While it's true we can’t really buy much anymore with a single cent, and penny loafers are no longer all the rage, there will continue to be those who hold onto their coins, preferring the tangible and savoring the nostalgia.