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NEWS ABOUT: penny

Let's Replace Dollar Bills With Coins

And while we're at, it's time to ditch pennies, too: Los Angeles Times

(Newser) - Here's a quick way to cut government spending: Stop making one-dollar bills. Switching to coins could save us some $5.5 billion over 30 years, write the editors of the Los Angeles Times . That's the lifespan of a coin, while a paper dollar lasts only 3 years. Want... More »

Amid Debt Mess, Renewed Calls to Kill the Lowly Penny

Gov't could save millions each year by dropping the one-cent coin

(Newser) - Calls to ditch the penny—which cost 1.79 cents apiece to manufacture last year—are nothing new . But with budget-slashing and debt-reducing on America's mind, proponents of the move are renewing their call, reports Politico . So is the time finally right? Many think so. The US Mint lost... More »

5 Common-Sense Bills We Need to Pass

Here's two: Let's vote on weekends and stop making pennies

(Newser) - Ezra Klein uses his Washington Post column to give a push to what he sees as logical bills languishing for lack of "partisan passion." Among his first No-Brainer Awards:
  • Weekend voting: A bill from Rep. Steve Israel and outgoing Sen. Herb Kohl would end the outdated silliness of
... More »

Bizarre New Design Ruins Our 'Humble Penny'

No more Lincoln Memorial? What a shame

(Newser) - The newly designed penny continues the long tradition of ugly-looking US currency, writes William Bostwick. The front of the 2010 cent looks generally the same, but the back now has a Union shield in place of the Lincoln Memorial. That's only "the most emotionally and socially charged building in... More »

Now 100, Lincoln Penny Was First With 'Heads'

'Monarchical' fears long prevented use of presidents

(Newser) - As Honest Abe's 200th birthday approaches, his likeness in our pockets is often disregarded. But the 100-year-old Lincoln penny is actually an American artistic milestone: Its debut marked the first appearance of a real person on a US coin, the New York Times reports. After the nation’s birth, putting... More »

IRS Notice Stuns Lawyer: 'You Owe Us a Penny'

(Newser) - Washington may be loaning billions to automakers, but a Detroit lawyer? He has to pay an IRS bill of 5 cents, the Detroit Free Press reports. James Howarth was busy tallying the cost of paying his debt—which is "several hundred percent over the nickel," he said—... More »

Lincoln Penny Gets a Redesign

Commemorative issue marks Lincoln's 200th birthday, and the coin's 100th

(Newser) - The US Mint today unveiled four new designs that will adorn the back of the Lincoln penny next year to commemorate the bicentennial of Honest Abe’s birth, CNNMoney reports. The classic portrait of the 16th president will remain on the heads side. The reverse will depict scenes from Lincoln’... More »

Paulson Wants to Toss Pennies

Costs outweigh value of small change, but government has no plans to cash out

(Newser) - Henry Paulson sees little point in pennies and would stop their production if he could, the AP reports. “The penny is worth less than any other currency,” the Treasury Secretary said today in a radio interview. But a sea change in change isn't imminent: Paulson says he... More »

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