Your Money Minute Here Come Counterfeit Pennies 6/2/25
Jun 2, 2025
Dive into the decline of the penny and its potential farewell in this enlightening discussion. Explore the economic factors driving this change and its relevance in our digital world. Learn how Canada already navigated this path and discover intriguing insights about rare and counterfeit coins that could be lurking in your wallet.
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Penny Production Ends
- The U.S. is ending the penny due to production costs exceeding its value. This could save the government up to $50 million annually.
Digital Payments Reduce Penny Use
- Americans use fewer pennies due to digital payment habits. Canada eliminated pennies over a decade ago with cash rounded to five cents.
Rare 1943 Penny Counterfeits
- Some 1943 copper Lincoln wheatback pennies are extremely valuable. But many are counterfeit and sold online, especially from China.