Storytime Tapestry E-zine

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Welcome to Fascinating Facts and Educational Trivia

A Hartson Dowd Column

May 3, 2008

Fascinating Facts and Tantelizing Trivia:

History of the PENNY.

The penny has also been known as the cent, the pence, and minor (for minor or insignificant coin). The definition of the penny comes from its derivation. Probably from the word pun in English taken from/for the word pound as used in measuring silver, gold and such like. Therefore, a penny was a specific part or fraction (probably 1/1000) of a pound. It is also 1/100th of a dollar in the countries of Australia, Canada, New Zealand, and the United States. In Great Britain the "new penny" was 1/100th of a pound (though earlier as a measure it was literally 1/1000th of a pound in weight). The new penny is no longer used in Great Britain and little used in the United States. In fact you can see cashiers regularly forgiven for neglecting to return a penny in change to persons due it; consumers generally don't want the nuisance coin.

The pre-US history of the penny

There is much history before any coin was named a “penny” that will tell us the lineal roots of the first penny. Before the penny there was king Pepin's novus denarius meaning new denarius. Before this was the Roman coin the denarius and before this was the drachma, Greek in origin. Greek slaves who had previously minted the drachma minted the denarius. The novus denarius was based on the denarius and the penny was based on the novus denarius.  Now these were all silver coins though pennies eventually were minted from copper.

From there, the history of the penny can be shown to be perhaps as old as the first use of minted coinage ever. The dachma, Great Grandparent to the penny, dates to 2500 and the first minting of coins occurred only 100 years earlier than that. Previous to the minting of coins, transactions or “trade” was the literal barter exchange of goods for goods. Where this was not used the substitute was an exchange of weighed gold or silver whose value was known and constant, a standard of exchange. One particular kingdom of the time called Lydia where Turkey now resides, had high reserves of an unstable alloy. This alloy was called Electrum. Electrum had gold and silver in it but in quantities that were never constant. It couldn't be used as a standard of exchange in the same way as pure gold or silver. The Lydian coinsmiths created the first coins as the result of a refining process that stabilized the Electrum into consistent and knowable quantities of gold and silver, they could then be used in weighed exchanges like gold and silver. These were given a stamp to prove their authenticity. This is how the first coins ever were created. You can see how closely the modern senny and its history are intertwined with the advent of coinage and the whole monetary system itself.

The first pennies:

The earliest record of the penny by name in history is from 790 AD when the first British penny was minted. It was originally pressed in silver. Through its early British history the penny had varying weights and molds. It was first pressed by King Offa of Mercia bearing the name and image of his wife the queen Cynethryth. With the succession to King Ceolwulf, the penny was pressed at the mint of Canterbury. From there the penny underwent many changes. The names added to the penny changed based on current design, so giving us such names as the short cross penny and the long cross penny from 1180 to 1279 AD. The back of the penny carried the names of the moneyers who actually pressed the pennies until 1279 when they were replaced simply with the name of the mint itself. The front still carried the image and name of a prominent figure. Many attempts were made to introduce gold coins until 1351. The penny however stayed silver and began to be reduced in weight by thirds over time (twice) from its original weight. A form of the penny exists today not only in the US but also in Ireland,  The United Kingdom and Canada.

The US penny:

In 1793, the United States of America was trying to establish itself among the nations of the world. President Washington was made aware what an urgent matter it was for the US to have a stable system of coinage. A case can be made that the 1792 half dimes resulting from this need were the very first coins pressed by the United States Government. However the chain cents of 1793 were probably the first. The US penny, named after the British penny or pence was first minted as the US penny around 1787. Pennies in the US were first pressed in copper. The first design was by the famous Benjamin Franklin. The penny of 1793 from Philadelphia was a chain design billowing around and something to be seen in order to be appreciated, as no description is suitable. The pennies of 1793-1796 were called the large cap coins due to the large cap hovering the head of the party embossed on the coin.

Versions of the Penny:

After Ben Franklin's minted version the most notable US Penny was the indian cent. The 100% copper indian cent, produced from around 1859 to about 1864 is fabled to be designed as the result of genuine indian assistance. You see an indian chief supposedly loaned his chieftain headdress to the model for the coin’s image that was the daughter of the designer, to wear for the engraving. From 1864 to 1909 there was another change in that the coins went from 100% copper indian cents to 5% zinc and 95% copper. This change was right after the civil war. The first Lincoln cent like what we have today appeared in 1909. If you have a 1909 penny hold on to it! More pennies have been pressed than any other coin in the US. Throughout WW2 pennies were steel covered in zinc to allow the use of copper in wartime for military purposes. There have been adoptions of a new penny at the 100th and 150th birthday's of Abraham Lincoln in honor of him. In 1959 this produced the penny with the Lincoln memorial on the back. Of course if the indian cent and first Lincoln penny of 1909 could be had these would be a prize.  The more knowably collectible versions and years are listed here.

The history of the more collectible pennies:

The 1960 small date penny was a collector's dream as was the 1955 obverse and also the 1969 San Francisco S which was thought to be counterfeit even by some government officials. The 1970 large and small date pennies and the 1972 double die obverse were a collector's combo, coming very close together in date. The 1984-D has been rumored to be valuable as well.

What are the rarest collectible pennies?

The 1943 penny is a real copper penny worth about $80,000.00. Though some of these dozen beauties have sold as low as $10,000 the highest price given is a recorded $112,500 as late as 1999. One would think the $80,000 valuation should be adjusted. Times changing as they are, these pennies might fetch many times the $112,500 price to a museum only a generation or two from now. This is the most valuable collectible penny you have a real chance of scoring in a search of any old pennies. Copper you ask? But weren't the 1943 pennies all steel and coated with zinc due to the need to save copper for the war effort? Yes all but the first 12 minted which were minted from the copper already in the machine. Follow me into the vast history of the 1943 "Copper" pennies.

Likely the first 1943 copper penny discovered was noted among a handful of pocket change around 1947. There was another discovery later that year which gained quite a bit of notoriety. The government in the form of the Philadelphia Mint denied there were any 1943 coppers as late as 1947. We're not certain there were only 12 but that there were about 12 copper 1943 pennies known to have been minted by accident, when copper blanks (from which pennies are pressed) were used which were unwittingly left in the press hopper when production started on the new pennies of zinc coated steel.

The rarest penny known to still exist in any form is the 1793. There are only four that we know of and that's why you are unlikely to ever find one, unless you find the missing 5th penny, if there even is one. These four are each valued at around $275,000.00. One oddity of the penny was the Liherty where an h was substituted for the obvious b. The penny today is in shortage in some places through piggy bank and collector hoarding and often banks will trade a crisp dollar for less than 100 pennies.

Q. Is my Penny a Copper, or a Zinc Cent?

A. If your Lincoln Memorial penny has a date before 1982, it is made of 95% copper. If the date is 1983 or later, it is made of 97.5% zinc, with a thin copper coating, or "clad."

For pennies minted in 1982, when both copper and zinc cents were made, the safest and best way to tell their composition is to weigh them. Copper pennies weigh 3.11 grams, whereas the zinc pennies weigh only 2.5 grams.

If you don't have a gram scale handy, you can use the "ring" test. You need a hard formica surface, a known copper penny, and a known zinc penny. Drop each one onto the table, listening to its distinctive "ring." Zinc pennies have sort of a flat ring, whereas copper pennies have a higher-pitched, more melodious "ring." Once you have a good feeling for how each type sounds, start dropping your 1982's one at a time, and you should be able to sort them out by metal composition.

Obviously, this test isn't as reliable as weighing them, but it should help you sort most of them.

Cherrypicker's Tip - Watch out for "transitional" mint errors! "Transistional" errors occurred on the Lincoln Memorial Cents when the mint accidentally used copper stock for 1983 pennies. These "wrong stock" pennies weigh 3.1 grams, rather than the 2.5 of the zinc cents. If you find a copper 1983, it just might be worth... a pretty penny!

Q. How Much is a 1943 Penny Worth?

Many people assume that the penny is no longer good for anything, but - there are still a lot of things that you can do with a penny. Here are 93 of them (Disclaimer: Some of these activities involve defacing pennies which may be illegal):  PLEASE DO NOT PUT ONE IN YOUR FUSEBOX - This is a good way to burn down your house. Fuses exist for a reason. 

: Bears repeating; Please do NOT put one in your fusbox!!

1. Clean dirty pennies instantly by dropping them into a saucer of vinegar with table salt stirred in.

2. Use for leverage to pry off the lid from a difficult “line-up-the-arrows” childproof medication bottle.

3. Slip one under a vase that sits a little wobbly to steady it.

4. Tape one to the tail of your kite for a little more stabilizing weight.

5. Teach your toddler to count with them.

6. Teach your little bit older child a little culture and history by looking in the dictionary to find that the American coin is only called a “penny” in slang, and that its proper name is “cent.”

7. Use as an impromptu screwdriver in a wide slotted bolt.

8. Trace around to make small circles for crafts (appliqu?©, scrap booking, etc.).

9. Collect in your change jar and cash in when full.

10. Scratch off lottery tickets.

11. Make sculptures like penny towers. 

12. For good luck, place one over every doorway when you move into a home.

13. Fill a sock with pennies for self defense.

14. Play penny poker.  Use them as poker chips.

15. Over a concrete surface, hold a penny with pliers and melt it with a torch. It will drip down, nearly cool before it hits the ground, then instantly form a beautiful shiny, lacy, silver-colored foil as it spreads on but does not get stuck to the concrete.

16. Toss them in wishing wells.

17. Collect rare, valuable pennies.

18. To make an old lawn mower easier to start, rub a penny between the points (or condenser) on the engine to help them conduct better.

19. Put a penny on the top of the needle of a record player to make it follow the groove better.

20. Use to make crafts and jewelry.

21. Check your car’s tires by placing one head down between the tire tread grooves. Replace the tires if you can see Lincoln’s whole head or any of the “In God We Trust” letters above his head.  Just insert the penny between the tread, if the top of the Lincoln’s head is visible, it’s time for new tires!

22. Use to open the battery compartment of a remote control.

23. Toss one to see which side starts the soccer game.

24. Increase the pH of soil for hydrangeas., bury them near the plants.

25. Throw handfuls to the crowd of spectators at a parade.

26. Superglue one over the spring-loaded latch on the cabinet if you don’t want it to close with a catch.

27. Mix them in the grab bag of Halloween candy for trick-or-treaters.

28. Nail through one when you need to spread the holding force of the nail head over a greater area.

29. Spin them on the table for entertainment while waiting for your order at a diner.

30. Toss into the deep end of the pool and challenge the kids to dive and get them.

31. Drill a hole through opposite edges of many pennies and string them together to make a little rain chain.

32. Put them all around vulnerable garden seedlings to repel slugs. The folklore is that slugs touching copper will experience a tiny electric shock as electrons are exchanged between a slimy slug and copper.

33. Find one heads up to have good luck.

34. Prompt your backstabbing workmate to pick up the one that is tails side up on the sidewalk so that he will have bad luck.

35. Place one on your loved one’s grave to let them know you have been there and think of them.

36. Use one as inspiration for song. “Pennies … pennies from heaven.”

37. Visit another country and give them to children for the novelty of foreign coinage.

38. Use a small collection to entertain a young child by encouraging them to make designs.

39. Sew them onto your belt for decoration.

40. Place them in the hems of your draperies to make them hang smoothly.

41. Put one on the back of your hand. Quickly drop your hand downward while turning it over to catch the penny on the flat palm of your hand. Reverse the action to catch it on the back of your hand.

42. Bend your arm up with your fingers close to your ear on the same side. Place one or a stack of pennies close to your elbow. All in one motion, snap your hand forward to catch them.

43. Get a big silky scarf and rubber band a penny into each corner. Holding the corners together, roll up the scarf over the pennies. Thrown it as high into the air as you can, and then watch the scarf float slowly down like a parachute.

44. Pour a patio and put one penny for each of your kids into a discrete spot before the concrete sets. Pennies should be dated with the kids’ birth years.

45. Wrap one or more in electrical tape to make a heavier “cork ball” for that baseball- like game.

46. Demonstrate transfer of energy by making a short line of them on a table, then slide one penny forcefully onto the end of the line. See how at the far end of the line one penny then scoots away from the rest of the line.

47. Put one or more inside a couple of foil pie pans taped together to make a rhythm toy.

48. Make pretend spurs: flatten two pennies on a railroad track, then bend them. Pierce a hole through them and also through a third flattened but unbent penny. Stack the pennies together over a paperclip with the flat one in the middle. Slip a piece of string through the opposite end of the paperclip and tie around your kid’s ankle.

49. Get one to cling to the end of your nose without tilting your head back.

50. Fill the slots of your penny loafers.

51. Ask someone much older than you what a penny used to buy.

52. Find a place that still sells penny candy and buy a piece!

53. Quintuple your money: find someone who will give you a nickel for your penny.

54. See how far you can roll a penny down a hard floored hallway.

55. If you need brass washers to help rehang some loose gingerbread (fancy woodwork) on your house, drill holes in pennies. Brass washers cost about 4 cents each and pennies cost - well, a penny.

56. Use financial education. If you start with one penny on day one of a month and double that amount every day, how much do you have at the end of the month? If it’s a 30-day month: $5,368,709.12. If it’s a 31-day month: $10,737,418.24.

57. A penny says “In God we Trust”. Every time you pick one up, say a little prayer.

58. Use in a toll booth in the states where they are still accepted, like Illinois.

59. Trap someone in their room by forcing three or four pennies stacked together between the door and door jam.

60. Old wives’ tale: if you drop a penny on the floor in your home, don’t pick it up. Kick it under a piece of furniture or into a corner of the room out of sight. After cleaning, throw it back down. You will always have money.

61. Toss in fountains to make wishes. Just make sure there are no signs prohibiting it, especially if there are live fish in the water.

62. Use as a spacer when laying tile.

63. Play beer games: bounce a penny on the table and into a shot glass. If you make it, you get a drink. If not, you get a drink …

64. Snap a penny in your fingers and make it shoot like a projectile. A well-placed hit can sting quite a bit.

65. Five pennies can substitute for a die (as in singular of dice). Heads counts as 1 and tails count as zero. You start at 1, and add up the number of heads.

66. If you’re really mischievous and peeved, use them as revenge payment for money owed.

67. Play spin the top. Each person holds a penny upright with one finger, and flicks it with a finger in the other hand. You win if your penny spins the longest.

68. Play curling. Draw a circle on a smooth surface and flick pennies from a distance. Whoever gets the most into the circle wins. You can knock your opponent’s pennies out of the circle as well.

69. Learn how to do cool sleight-of-hand magic tricks.

70. Insert a shiny penny in a machine at amusement parks which run a small press to flatten it into an oval and then imprint the amusement park’s logo on it.

71. Use as a bookmark.

72. Freeze them and drop down the shirts of unsuspecting victims.

73. Pay for things with exact change.

74. Buy stamps at vending machines at post offices.

75. Use as replacement checkers when you lose some.

76. Weigh down hems from dresses. Open up the hemline and drop a penny in.

77. Glue one onto a shoe for a tap dance shoe.

78. A penny saved is a penny earned. In fact, it is even more than a penny earned since a penny earned will have taxes taken out.

79. To make round corners on a photo, put the penny on the photo, trace lightly around the edge, and then cut on the line.

80. Play penny-pitch.

81. Donate to charities that leave change jars near cash registers, or to the Salvation Army or other charities at Christmas.

82. Let your child throw them into the garden to magically find again next spring, as if the fairies seeded the garden with pennies.

83. Give someone a penny for their thoughts!

84. Actually, it’s not illegal to deface coinage unless it’s done with fraudulent intent. (e.g. trying to make a dime out of it) If you’re a coin collector looking to sell… DO NOT clean that penny. If you do, the value of the coin actually decreases a lot! Coin collections are a dirty bunch.

93. Use a a playing piece in games like Monopoly, Sorry etc..