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Obama Open to Getting Rid of the Penny

Obama Open to Getting Rid of the Penny

Photodisc/Thinkstock(WASHINGTON) — President Obama says it may be time to get rid of the one-cent coin.The copper coins cost more to mint than they are worth and are increasingly used less and less, leading many economists to ask why the U.S. hasn&rsq…

Rare 1943 Penny Sells for $1 Million

Rare 1943 Penny Sells for $1 Million

iStockphoto/Thinkstock(NEW YORK) — A 1943 Lincoln penny that soared in value because it was made from the “wrong” material reportedly has sold for $1 million.The penny was erroneously made of bronze instead of zinc-coated steel at the San …

Canada Says Farewell to the Penny

Canada Says Farewell to the Penny

Ablestock.com/Thinkstock(WINNIPEG, Manitoba) — In an effort to save the government money, officials in Canada made the decision some time ago to stop making the Canadian penny.  On Friday, the country held a final minting ceremony for the coin, w…

$1 Million for a Rare Penny?

$1 Million for a Rare Penny?

Scott Olson/Getty Images(SCHAUMBURG, Ill.) — A 1792 Silver Center penny is being auctioned off Thursday night and online bidding is already at $1.15 million, according to Heritage Auctions.The penny is one of the first coins struck at the U.S. Mint, a…

US Penny to Be Kept as Canada Bids Coin Farewell

US Penny to Be Kept as Canada Bids Coin Farewell

iStockphoto/Thinkstock(WASHINGTON) — Loafer wearers, rejoice.Even though Canada will be saying goodbye to the 1-cent coin in the fall, it seems the U.S. penny is here to stay — for now.In 2008, then-Treasury Secretary Henry Paulson suggested eliminat…

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