The Penny's Impact:
From the Grocery Store to the Gas Pump
The
penny enjoys overwhelming support from the majority of Americans. Eliminating the penny is a losing proposition
because it will result in rounding to the nearest nickel and higher prices for
America’s working families. This
increased cost to consumers will be felt in everything from the grocery store
to the gas pump. Pennies add up to
millions of dollars every year for charities across the country. Simply put, the penny plays an important
role in our everyday lives and in our nation’s economy.
Our Mission
Americans
for Common Cents aims to inform and educate policymakers, consumers, and the
media about the penny’s economic, cultural, and historical significance. Through coalition building, media outreach,
and community partnerships, ACC attempts to ensure that accurate information
about the penny is widely disseminated, and that the impact of any changes to
the penny’s role in our nation’s monetary supply is adequately understood.
2010 Lincoln Penny Design
The U.S. Mint unveiled the new 2010 Lincoln penny design during a Springfield, Illinois ceremony on February 11. The reverse design features a Union shield emblematic of President Lincoln’s preservation of the United States. The shield includes 13 vertical stripes representing the original 13 states joined together as a united country. The stripes are capped by the heading “E Pluribus Unum” (Out of Many, One) which is inscribed across the top of the shield.
The shield dates back to the 1700’s, and was used widely during the Civil War.
The 2010 Lincoln penny design evolved from the Presidential $1 Coin Act of 2005 which required a new penny design for regular use be developed for use in 2010 and beyond, symbolizing President Lincoln’s preservation of the United States as “a single and united country.”
Initially, 18 designs were submitted to the Commission of Fine Arts and the Citizens Coinage Advisory Committee. Both organizations submitted their recommended designs to US Treasury Secretary Timothy Geitner, who selected the Union shield design. Lyndall Bass, an associate designer with the US Mint created the design, and Joseph F. Menna was the design sculptor.
The Union shield design replaces four 2009 designs depicting different aspects of President Lincoln’s life and the 1950 t0 2000 Lincoln Memorial design.
For more information on the new 2010 penny, please click here to visit the US Mint website
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