It’s been over 100 days since Donald Trump took over the US presidency. In that time, he has signed over 140 Executive Orders – a new record. One of those, proclaimed on February 9, was for the elimination of the penny. Specifically, it halted the production of new pennies, however the Mint has enough copper/zinc cent blank planchets for minting to continue this year.
This isn’t a political column so it’s not my place to judge any partisan merits of the eradication of the cent. I will say I’m a fan of the coin for numerous reasons, not the least of which is that it is historically the foundation of US currency dating to 1787. Our first coin was a cent. We even once had half-cents. Additionally, while potentially annoying today, pennies help keep prices down. Without them, prices will invariably be rounded up to the next nickel.
Not that eliminating the cent is unheard of. As I’ve mentioned before, in 2013, Canada discontinued its penny. They’ve done pretty well since. Then again, Canada has a curious record with their money....
In 1986, Canada stopped printing and distributing their one-dollar paper bill. Akin to the current initiative with our penny, the Canadian government eliminated the paper dollar as a cost-saving measure. In its place, Canada created and produced a one-dollar coin featuring an image of a native bird, the Loon. Canadians began referring to the dollar coin as the “Loonie.” That may sound derogatory but it’s actually a term of affection. They absolutely love and use the coin.
The Loonie became so popular, the Royal Canadian Mint struck a two-dollar coin. It became known as, you guessed it, the “Twonie.” Both the Loonie and Twonie are Canadian favorites.
As most all know, the US gave that a try, multiple times. First, the Mint created the Susan B. Anthony dollar coin. Sized and looking too close to a quarter, it went down in flames. Years later, we tried again with the Sacagawea golden dollar coin. Nope. People didn’t embrace them. Too heavy. Those were supplanted with a same-sized Presidential golden dollar coins. They also flopped.
We still have “Native American” golden dollar coins however they don’t circulate and can only be obtained in rolls or bags directly from the Mint for a notable premium. The most recent such coin features a portrait of Hawaiian Mary Kawena Pukui. According to the Mint, native Hawaiians can be considered “Native American.” I’ve not heard that but will take their word for it.
Traveling back to Great Britain and the countries it governs, some of the coins it is producing are an even bigger stretch and may raise a few eyebrows for their irony. For instance, in England, the British Royal Mint has just issued a two-pound and 10-pound coin struck from silver plus a copper-nickel five-pound version. That’s normal. What isn’t is that the coins pay tribute to rocker John Lennon from his post-Beatles days. On the coins is a profile image of Lennon alongside his name and the word “IMAGINE” from his famous song.
The unusual part of the commemorative issue is that, 50-plus years ago, Lennon was vilified. He was considered a bad influence druggie. He even faced deportation from the UK due to his use of LSD and was arrested at his London home for possession of cannabis resin. He and wife Yoko soon left to live in New York. At that time, the likelihood of Lennon regaining popularity in England was slim. Today, he is an immortal musician celebrated on British coinage.
The droll incongruity on both coins is that each also contains the mandatory portrait of King Charles III – sovereign of the United Kingdom. If there’s anyone who is the polar opposite of Lennon or Hendrix it’s got to be King Charles. Stuffy and stilted don’t begin to describe him. Certainly, the coins are interesting and collectible. But, the humorous contrast between King Charles, Lennon and Hendrix remains a visual paradox. Either way, for more information or to purchase any of the coins, log onto www.PerthMint.com or www.RoyalMint.com.
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