OPTIONAL:
What do you remember from 2014? If you were not alive in 2014, log a story from your elders for us all to enjoy this wonderful year again. Thank you!
Please keep the 2014 Penny inside this GeoCache for others to observe. There are about 130 billion pennies currently in circulation. The Mint produces 5-16 billion pennies every year.
Can we find a penny from every year of production?
Every penny minted since 2006 was produced at a loss. The penny accounts for the largest amount of loss for the U.S. Mint. From 2009-2019 the U.S. Mint produced pennies at a total loss of $586,000,000. In 2019 the loss was $73,000,000. There is precedent to retire the penny. During the U.S. Mint's 225-year history, several small denomination coins and all coins valued over $1 have been eliminated from production. One of those coins, the Half Cent, was retired in 1857 due to inflation. Our current penny is experiencing a similar effect, where it's production cost exceeds its face value. Coins with a face value above $1 were retired during the Great Depression. These coins lost their status as legal tender with the passing of the Gold Reserve Act of 1934, a law meant to protect federal gold from being hoarded by private citizens. This act made gold coins illegal in the U.S. Before 1857, the U.S. Mint produced a coin called the Large Cent. This was a pure copper coin about the size of a Half Dollar. The melt value of the copper in this coin today is about 7¢. The collector value can range from $70-$900 based on quality and variety.
2014:
• Scotland votes to remain part of the United Kingdom.
• The United States and Cuba re-established diplomatic relations after 50 years.
• Archaeologists uncovered the oldest known temple from ancient Rome.
• Melbourne was the most livable city in the world, and Pittsburg was the most livable location in America.
• Americans paid a peak of $3.66 for a gallon of gas