Multiple designs for pennies is not a very wise idea

Robert Simpson
Published: November 6, 2008

With pennies costing more to make than they are worth, why is the government trying to get everyone to hoard more of them by releasing four different versions of the Lincoln cent in 2009?

I understand the reasoning behind the 50-plus state quarters. Each one squirreled away represents at least a 20-cent profit to government coffers, but one new design to celebrate the 200th anniversary of Lincoln’s birth should be adequate.

Let’s hope cooler minds prevail and only one commemorative Lincoln cent is offered. I would suggest that if more celebrating is needed why not offer new designs on the reverse of the five dollar bill.

Of course it might just be that the government is using the one-cent piece (loss leader) to entice new collectors (youths who cannot afford to put away $12.75 in quarters forever) who will then be offered more expensive items.

Robert Simpson
Rixeyville