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Indian Head Pennies Before Abraham Lincoln's portrait was featured on American one-cent coins, the design on the coin was the Indian Head. The attractive design was created by James Longacre. Rumor has it that Longacre used his daughter's likeness for the face. They were minted in the millions from 1859 to 1909. Because so many were put into circulation, they are still relatively cheap to acquire from coin dealers.
Tags: Indian  Head  pennies 
Added: 22nd November 2007
Views: 1194
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Posted By: Lava1964
1943 Steel US Penny The 1943 silver-colored penny was a special wartime issue made of steel and coated with zinc. During the Second World War copper was badly needed to make shell casings. In response to the wartime demand for copper, pennies that year were made of steel. They are not great rarities, though. These coins are generally worth about 12 to 15 cents apiece in circulated condition, and as much as 50 cents or more if uncirculated.
Tags: steel  penny  numismatics 
Added: 12th December 2010
Views: 1166
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Posted By: Lava1964
Juliet The Four Pennies.
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Added: 2nd December 2008
Views: 832
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Posted By: donmac101
Horatio Alger Novels In the late decades of the nineteenth century, one of the best selling authors in America was Horatio Alger, Jr. His series of books, aimed at teenage boys, were widely praised for extolling positive virtues. The stories were formulaic: A poor, downtrodden youth would invariably achieve middle-class respectability through hard work, dedication and frugality. Often the hero's rise was aided by an established older member of society whom the youth had helped. Today, the term 'a Horatio Alger story' refers to any rags-to-riches tale. Alger himself led a checkered life. He abruptly left his position as a minister of a Massachusetts church in 1866 after accusations of pederasty with two male teenage parishoners. (This was not widely known until years later.) Unlike his novel characters who saved their pennies for a rainy day, Alger was a spendthrift who squandered his considerable earnings. He died virtually penniless in the care of his sister in 1899.
Tags: Horatio  Alger  author 
Added: 20th October 2009
Views: 812
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Posted By: Lava1964
Canada Discontinues Pennies On May 4, 2012 Canada's Finance Minister Jim Flaherty was on hand at the Royal Canadian Mint to see the last penny roll off the line. Six weeks earlier he had announced that Canada's one-cent coin would be discontinued. An overwhelming majority of Canadians applauded the government's decision. Most felt the move was long overdue. Citing low purchasing power and rising production costs, the government decided to phase the penny out of existence starting in the fall of 2012, when the Royal Canadian Mint will stop distributing the one-cent coin to financial institutions. Over time, that will lead to the penny effectively becoming extinct, although the government noted that one-cent coins will always be accepted in cash transactions for as long as people still hold on to them. The value of the penny has decreased to about 1/20th of its purchasing power in the last 100 years. Indeed, the lowly penny has fallen so far that Ottawa described it as a "burden to the [Canadian] economy" in a pamphlet explaining the change. In part because of rising prices for the metals it's made of, it actually costs 1.6 cents to produce every penny. The government estimates it loses $11 million a year producing and distributing the penny, and that doesn't include the costs and frustrations for businesses and consumers that use them in transactions.
Tags: pennies  Canada  numismatics 
Added: 29th March 2012
Views: 921
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Posted By: Lava1964
Great Britain Adopts Decimal Currency - 1971 Although the idea had been discussed in the British parliament as early as 1824, it was not until Monday, February 15, 1971 that Great Britain finally adopted decimal currency (100 pence to the pound) and shelved the cumbersome monetary system of 240 pence to the pound that had thoroughly confused foreigners. Prior to Decimal Day, there were 12 pennies in a shilling and 20 shillings to a pound. There were also lesser denominations of coins. For example, a farthing was worth a quarter of a penny. Then there were the weird coins such as the half crown which was worth two shillings and sixpence--or 30 pence--or one-eighth of a pound. British banks shut down on Wednesday, February 10, 1971 at 3 p.m. in order to have nearly five days to convert all their accounts from old money to new money. (As few banks were computerized in 1971, most of the recalculations had to be done manually.) In the months leading up to Decimal Day, the British government produced a wide array of pamphlets designed to educate the public about the 'new money.' There were even songs produced for the same purpose. Typically, older Brits were mostly against the change and had the most difficulty adapting to it.
Tags: British  money  decimalization  change 
Added: 2nd March 2015
Views: 341
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Posted By: Lava1964

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