Change is inevitable. However, how we make change changed on Wednesday, November 12 as the last penny was minted at the U.S. Mint in Philadelphia. It’s rather ironic that this is the place where the first penny was minted in 1793.
“The profile view of President Abraham “Abe” Lincoln first showed up on the front of the one-cent piece in 1909—nearly 120 years after the first U.S. penny was minted, and 44 years after Lincoln’s death… Commissioned by President Theodore Roosevelt and sculpted by Victor David Brenner, the first Lincoln penny was released to the public in August 1909 in commemoration of the 100th anniversary of Lincoln’s birth. According to the U.S. Treasury Department, “A strong feeling had prevailed against using portraits on our coins, but public sentiment stemming from the 100th-anniversary celebration of Abraham Lincoln’s birth proved stronger than the long-standing prejudice.”1 Goodbye, Mr. Lincoln.
This isn’t the first time a piece of currency has been discontinued. At least 13 coins have been rendered obsolete over the years including the ½-cent, 2-cent piece, the 20-cent piece, the $10 Eagle and the $20 Double Eagle. Discontinued paper money included the 3, 5, 10, 15, 25, and 50 cent notes, the $500, $1,000, $2,000, $5,000, $10,000, and $100,000 bills.
So, why pick on the poor, pathetic penny? It’s economics. The cost to make 1 cent costs 3.69 cents to make. That’s a loss of 2.69 cents per penny or $2.69 to make $1.00 worth of pennies. That doesn’t make sense, does it?
There are still over 300 billion pennies in circulation, and it is still a legitimate piece of currency. However, we are finding that most retailers and restaurants don’t want to mess
with the pennies. Is anyone tired yet of hearing, “Would you like to round up to the next dollar?” I want to say, “No, but I’d be happy to round down.” They don’t give you that option, though.
And do you realize that in a few generations, a person will not be able to say, “Penny for your thoughts?” You’ll get those same weird looks as you get today when you mention 8-track tapes, rotary phones, and dial-up internet.
There may be some that are heartbroken over this latest change, believing that our monetary system is falling apart. Like I stated earlier, though, changes have been occurring for as long as money has been minted. The issue may come from the fact that only those in their 90s remember the last time coins became obsolete (half eagle, eagle, and double eagle). The $500 and $5,000 bill went out of production in 1945 while the others stopped production even earlier. So, this isn’t something done often. But it’s still change – no pun intended.
Though change is inevitable, one thing stands firm. Malachi 3:6 says, “For I am the LORD, I change not; therefore ye sons of Jacob are not consumed.” Using the fancy theological word, this is the doctrine of God’s immutability. In fact, that is the word used in Hebrews 6:17. “Wherein God, willing more abundantly to shew unto the heirs of promise the immutability of his counsel, confirmed it by an oath.”
Since God never changes, neither does His counsel. It always remains the same. The same is true of the Bible since John 1:1, 14 equates the Scripture with His Son, Jesus Christ. Hebrews 13:8 confirms this by saying, “Jesus Christ the same yesterday, and to day, and for ever.”
The world is going to change. Everything around us is subject to change. It’s inevitable. Don’t let that shake you. Our hope is not built upon a changing society but on the unchanging Savior. Rest in that today.
“That by two immutable things, in which it was impossible for God to lie, we might have a strong consolation, who have fled for refuge to lay hold upon the hope set before us: (19) Which hope we have as an anchor of the soul, both sure and stedfast, and which entereth into that within the veil…” (Hebrews 6:18-19)
1https://www.usmoneyreserve.com/news/executive-insights/presidents-on-coins/
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