Policy Update: Does Phasing Out the Penny Make Cents?

Katrina Mullen
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Katrina Mullen: https://www.richmondfed.org/research/people/mullen

Econ Focus, 2025, vol. 25, issue Q3, 12

Abstract: The U.S. Mint began producing the penny more than 200 years ago. Since 1909, President Abraham Lincoln has been the face of the coin, though the penny has changed in appearance, size, and material over time. As the longest-tenured coin and lowest denomination in the United States, it's no surprise that the penny can be found in so many places: under couch cushions, in drawers, or, if lucky enough, on the ground facing heads up.

Keywords: Payments (search for similar items in EconPapers)
Date: 2025
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