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
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
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?
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
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…