In 2025, President Trump considers no longing minting the Lincoln Cent saying each one costs over 2 cents to produce. The President is actually being conservative as the US Treasury says as of 2024 it costs around 3.69 cents.
The History Of The Cent
The United States Cent has been around since 1793. Back then, it is larger than the cent you see today. Originally, the diameter of the cent is 28.57 mm (1 1/8 inches) making it bigger than the quarter and is 100% copper. The Large Cent is not popular with the public.
So, in 1857, the cent gets a reduction to 19 mm and has a composition of 88% copper and 12% nickel. By 1864, the Philadelphia Mint is running low on nickel which changes the composition to 95% copper and the remainder tin and zinc. The removal of nickel makes the cent weigh less.
With the need of copper during World War II, the mint changes the composition to steel in 1943.
The 1970s sees an increase in the cost of copper. One idea is to make the cents out of aluminum. There are some made in 1974, but it is discovered that they can jam vending machines.
By 1982, the Lincoln Cent becomes 97.5% zinc and 2.5% copper. This is fine until the 2010s when the cost of zinc rises and the cost of making of the cent goes above 2 cents.
Not The First Time The Lincoln Cent Is Considered To Be Eliminated
In the past, the US Government has considered no longer minting the Lincoln Cent.
One act is the Price Rounding Act of 1989 which will eliminate the cent and round purchases to the nearest nickel. Some will support it while others this may hurt smaller purchases. Alas, it doesn’t happen.
Then, there is the Currency Optimization, Innovation, and National Savings Act of 2017. If you abbreviate this act, its COINS. Neat, huh? This is from congress.gov: “This bill suspends the production of one-cent coins, other than collectible coins, for a 10-year period. The Government Accountability Office shall study the effect of this temporary suspension and report on whether production should remain suspended. In addition, the bill provides for: (1) modifications to the composition of the five-cent coin; and (2) the replacement, in circulation, of $1 notes with $1 coins.”
Obviously, no Congressional Act has removed the cent from circulation as of February, 2025.
There are some countries that no longer have a cent, or an equivalent. The one I think of that removes the cent is Canada. 2012 is the last year the Canadian Mint produces cents. Since then, all sales are rounded by five cents. Canada doesn’t seem to miss the cent at all.
Other US Denominations That Are No More
Through the years, some denominations have disappeared because of cost, unpopularity, or even hoarding. These include:
- Half Cent: 1793 – 1857
- Two Cent: 1864 – 1873
- Three Cent Nickel: 1865 – 1889
- Three Cent Silver: 1851 – 1873
- Half Dime: 1792 – 1873
- Twenty Cent Piece: 1875 – 1878
Look Out Nickel! You May Be Next!
The Lincoln Cent is not the only US coin that costs more than its monetary value. In 2024, Jefferson Nickels
cost 13.8 cents to produce. Think about if the cent is eliminated. This will mean the mint will have to produce more nickels to compensate as well as dimes and quarters.
Fortunately, the other US coins are safe for the moment. Dimes cost under 6 cents, quarters are under 15 cents, and half dollars around 34 cents.
So, Should The Lincoln Cent Be Eliminated?
I’m sure that some collectors will want to see the mint continue producing cents, but I think there are some that won’t care at this point, except Cherrypickers. Cherrypickers are collectors looking for errors or rare die varieties. Even modern coinage can have issues.
What about TV ads? No more $19.99 products. They’ll either have to go down to $19.95 or stop trying to fool people and just say $20.00.
All kidding aside, it sounds like President Trump is serious about saying good bye to the cent. What do you think? Should we keep it or lose it?