The Evolution of the US Penny

The US penny was first minted in 1787, known as the Fugio cent. Designed by Benjamin Franklin, it bore the inscriptions 'Mind Your Business' and 'We Are One,' reflecting the nation's newfound independence.

Initially composed of copper, the penny's composition changed during the Civil War. The Coinage Act of 1864 introduced a bronze alloy, addressing metal shortages. Today's pennies are primarily zinc with a thin copper coating.

1909 marked the introduction of the Lincoln cent, commemorating the 100th anniversary of Abraham Lincoln's birth. It was the first US coin to feature a president's likeness and replaced the Indian Head penny.

World War II caused a temporary shift in penny composition. In 1943, pennies were made from steel with a zinc coating to conserve copper for war efforts, leading to the unique 'steel penny.'

A few copper pennies were mistakenly struck in 1943, making them rare collectibles today. These coins are anomalies from the steel-centric wartime production and are highly sought after by collectors.

The reverse side of the penny has seen several changes: the Lincoln Memorial in 1959, the Union Shield in 2010, and four different designs in 2009 to honor the bicentennial of Lincoln's birth.

The penny's future is uncertain, as production costs exceed its face value. Countries like Canada and Australia have already discontinued their lowest denominations. The US continues to debate the penny's fate amidst rising costs.

In 1996, a rare 1943 copper penny was discovered in a child's pocket change, later auctioned for $82,500. This penny's value continues to amaze collectors.