It seems every Christmas season seems more special than those before. As children, we dream of Santa bringing unbelievable surprises. When older, we hope to find the perfect gift for a boyfriend, girlfriend, spouse or relative. Ultimately, it’s watching a young child’s delight when the magic has passed to another generation.
For some collectors, this year could be particularly special. It may initially go unnoticed but Christmas 2025 marks the final incarnation of something we’ve known and used for the past 232 years. It’s nothing big – as inconsequential as a penny. That’s exactly what it is. The penny.
Given the new edict to eliminate the US cent from everyday circulation – we’re told in order to save millions in minting costs – 2025 will potentially be the final year for them to be produced. I say “potentially” because numismatic versions of the penny will reportedly still appear in annual collector proof sets. So, technically, they’re gone. Or, not. Sort of like the Kennedy half dollar....
As we know it today, the US cent first appeared in 1793. That year, the Mint created and struck roughly 100,000 copper pennies though in a much larger size than the modern variety. Way back then, the population of the entire United States was just over three million, roughly that of just Chicago today. Therefore, there weren’t a lot of pennies to go around. It’s why coinage from other countries such as England and Spain also was widely accepted and used in US commerce.
In the late-1700s, one cent was much more than a throw-away or bothersome coin. A handful of colonial pennies could pay for a good meal, a pouch of tobacco, a night’s stay or more. Today, pennies are relegated to barely covering the tax on a scant purchase.
Two years later, by 1795, somewhere near four million more colonial pennies had been struck. Comparatively few survive today, particularly in nice condition. In lower grades, some can be found for $500 to $600. For the finer condition examples collectors covet, thousands of dollars is the norm. In exceptional or uncirculated grades, auction prices are often in the tens or hundreds of thousands of dollars. In 2019, a super-rare uncirculated variety known as the “Chain AMERI” cent from 1793 sold for $1.5 million.
For the past four decades, instead of copper, pennies have been made of commonplace, lightweight zinc coated with a micro-layer of copper. Even though it now costs more than three-cents to produce one, factor in inflation and a penny is worth even less.
With 2025 being the end of the denomination, the US Mint is creating rare collectibles out of the final few pennies struck. Naturally, there’s no way to know which actual cent was the very first one struck in 1793. But, we will know the last.
Having been 232 years since the first cent was minted, in tribute, the final 232 pennies struck in 2025 will be auctioned for a premium – an exceptionally high one for the very last one.
In all, the 232 three-penny sets are being sold to the highest bidders. As the final cents produced, the coins include a privy mark of the biblical moniker for “Omega,” or “last” to the left of Lincoln.
The sets contain two brilliant uncirculated solid copper 2025 pennies – one minted in Denver, the other in Philadelphia. Those are paired with a third solid gold cent. The sets are sequentially numbered with #232 containing the final cents struck. That set also comes with the actual defaced front and back dies used to strike all three varieties.
As I wrote last week, especially at Christmas there are people with particularly deep pockets. Exactly how deep will soon be determined. I initially thought the sale was just an amusing gimmick, one that might attract a few interested in numismatic curiosities. I may have been wrong.
As of this writing, the lowest bid for one of the three-coin sets is $10,000. The highest, for final set #232 with the last three coins and defaced dies, has climbed to $260,000. That is $10,000 higher than when I checked just a few hours earlier. Interest seems to be climbing as do the prices.
For those with deep Christmas pockets, online bids continue until December 11, followed by live in-person biding. Wealthy buyers and curiosity seekers can see it online at www.StacksBowers.com. In the end, only time will tell if this gives a whole new meaning to, “Penny wise and pound foolish.”
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