The one-cent coin died at the age of 232

The penny’s long decline toward irrelevance ended Wednesday in Philadelphia, when the last examples were minted.

The penny, the name given to the one-cent U.S. coin, died Wednesday in Philadelphia. He was 232 years old.

The Treasury said the reason was its irrelevance and excessive cost.

You couldn’t buy anything for a penny anymore, not even so-called “penny candy.” Furthermore, the cost of minting a 1-cent coin rose to over 3 cents, a financial absurdity that eliminated it.

The last pennies were minted Wednesday afternoon in Philadelphia. Senior Treasury officials were present on his last trip. No last words were recorded.

In its heyday, the penny had enormous cultural influence. In the phrase “a penny for your ideas,” this was the price of other people’s ideas. It was a symbol of thrift, saved and/or earned, with the phrase “a penny saved (is a penny earned)”, i.e. a penny saved, a penny earned. Sometimes it can be pretty, as in the phrase “a pretty penny,” used to talk about a large sum of money; Other times they fall from the sky when they talk about “sharks from the sky” synonymous with good luck. How many ideas would not have come to light had the chips not fallen, the twenty or, as the original saying goes, “the penny drops”?

When picked, it is said to bring good luck for 24 hours, a popular claim but not proven by any double-blind scientific study.

On the dark side, a penny can definitely be bad, especially when it shows up, due to the phrase “appears like a bad penny”.

He has been seen in films (Penny Serenade or The Song of Memory in Spanish) and starred in songs (“Penny Lover”).

Their foray into shoes, specifically moccasins called penny loafers, was a huge success for many decades, and this type of shoe with a slot that fits on a coin is still available today.

In comparison, the best a 5-cent coin or nickel can do is be made of wood, because of the phrase “wooden nickel,” which is synonymous with fraud.

The American cent was preceded in death by its younger brother, the half cent (1793-1857), and its cousin, the Canadian penny (1858-2012). British coinage, born in the 7th century, has survived incredibly well.

The American penny was born in 1793 in Philadelphia. His predecessor was Alexander Hamilton, the first Secretary of the Treasury and principal author of the Coinage Act, which gave rise to the 1-cent coin and its siblings.

The one-cent coin has gone through many reinventions. At birth, he was carrying a copy of Lady Liberty. Beginning in 1909, Abraham Lincoln would occupy the face for the remainder of its metal existence.

The reverse of the coin was where it showed the most variety, as it was decorated with a series of 15 rings, a crown, stalks of wheat, and the Lincoln Memorial. In 2009, the variations increased, with log cabins and other designs. Recently the Union coat of arms was stamped on it.

Initially, the 1 cent coin was only a copper coin. In 1943, due to a copper shortage associated with the war effort, it was converted to zinc-plated steel for a year. From 1982, until his death, the penny, associated with its copper color, was actually composed of 97.5 percent zinc and only 2.5 percent copper plating.

As the penny entered its long decline, it became increasingly common to find it casually tossed in a jar in someone’s home or disgracefully dumped on a “Take a Penny” tray in stores. Demands for euthanasia have increased due to his age. Ultimately, President Donald Trump signed his death warrant in February.

Even after death, the 1 cent coin will not disappear immediately. There are about 250 billion pennies in circulation, and they will continue to sit, gathering dust, or perhaps, very unusually, they will be used to help complete some payments. As 1-cent coins slowly disappear, businesses will have no choice but to round up transactions to the nearest 5-cent coin when dealing with cash.

With the penny gone, the eyes of anxious coin enthusiasts are now turning to their old friend, the nickel. Its purchasing power has declined to nearly zero, and its manufacturing cost is no more than a dime, a 10-cent coin.

Victor Mather, who has been a reporter and editor at The Times for 25 years, covers sports and breaking news.