Archbishop Carroll freshman Emma Ilgenfritz was three years old when her mother handed over her own coin collection to her daughter as a birthday gift, launching Emma’s interest in the little round pieces of metal currency, especially pennies.
Freshman ReNee Sudan’s interest in pennies came later, at age 12.
Now the focus of the girls’ hobby will one day become extinct.
The United States’ production of the one-cent coins, which began in 1793, ended on Nov. 12 when the last one was minted in Philadelphia. President Donald Trump ordered the U.S. Mint to stop producing the copper-plated zinc currency because each coin cost just less than four cents to produce — more than its value. Ending penny production is supposed to save $56 million per year, according to government estimates.
Economists say the end of penny production will have little effect on consumers because purchases will be rounded to the nearest five cents, making some purchases a little more expensive and others a little less, according to Forbes. Additionally, more than 114 billion pennies remain in circulation and are legal tender, according to the U.S. Department of the Treasury. They will remain in circulation until they wear out, presumably.
That may be good news for collectors like Ilgenfritz and Sudan, although they said they were upset by the announcement of the end of production.
“I am devastated that they are discontinued,” Ilgenfritz said. “I’ve had a huge interest in coins, especially pennies. The idea of these small metal pieces being worth so much truly speaks to me.”
Sudan expressed a similar sentiment.
“I am very sad that pennies are gone,” she said.
Sudan started collecting pennies a few years ago when she starting noticing them on the floor in her house.
“I like collecting pennies because it’s a fun way to find and save money,” she said.
Sudan said she doesn’t have a valuable or unusual penny. One that she said she would like is an Indian head penny, which was minted from 1859 to 1909 and can be valuable. Ilgenfritz has pennies not only from the United States but also from Europe as part of her coin collection.
“Oftentimes, friends and family will send me coins from other countries as well.” she said. “I have multiple European pennies, which are some of my favorites.”
The fact that American pennies are no longer being minted will not stop Ilgenfritz from collecting.
“Although I’m upset that pennies will be leaving the U.S., I’m sure I’ll figure out a way to continue my collection,” Ilgenfritz said.
Sudan will, too.
“I will keep collecting pennies until I feel like giving them away or putting them in the bank,” she said.
