Last Penny Coin and Its Impact
A coin dealer in Bellevue believes that collecting the new 2025 pennies may not actually be a wise investment. This penny is set to be the final one ever minted, as announced by the U.S. Mint on Wednesday. Despite that, there are still over 300 billion pennies in circulation.
Rick Stelzer, who owns J&J Coins, reminisces about his fascination with coins starting at the age of 11 when his mother gave him a Lincoln Memorial penny in 1959. He fondly remembers buying a collection book and sorting through the pennies she brought home. To him, it’s not surprising that the penny is being retired, considering it costs nearly 4 cents to produce. Still, the nostalgia tied to these coins, which ignited his passion and career, makes this change feel somewhat bittersweet.
Recently, Stelzer sold his most valuable penny—a 1856 Flying Eagle—for a whopping $15,000. While the U.S. Mint confirmed it has minted the last penny, he notes that many people are eager to hold onto the new ones, aware that they’ll be the last ever made. He predicts that a roll of 2025 pennies, typically priced at 50 cents, could end up trading for $5 to $10 due to this newfound interest in preserving them.
He draws a comparison with the oldest Liberty Head nickels, particularly those made in 1883, which are often found in mint condition because they were widely preserved. However, those nickels are generally only worth about $20. There’s also mention that the next oldest Liberty Head nickel, produced in 1884, could fetch around $400, which is quite a jump.
Stelzer also points out that while there might not be a direct shortage of pennies, distribution issues exist. He knows of a co-worker with 2.5 tons of unused pennies stored in a basement. “They don’t use them,” he remarked.
Matthew Milligan, co-owner of the local business Dip Cravers, hasn’t faced issues retrieving pennies from the bank. He said if he ever does run into a shortage, he’d just round prices to the nearest nickel instead. Some businesses are already adapting. For instance, McDonald’s has started rounding change totals to the nearest nickel in some locations when exact change isn’t available.
Stelzer reminds us that this isn’t the first time a coin has been retired. The half cent was abolished in 1857, a change that, in his opinion, had a more significant effect on the nation than the penny’s retirement today. After all, this occurred long before the prevalence of cards and tap-to-pay. Back then, a half-cent coin was actually worth around 15 cents in today’s money, when adjusted for inflation.
