Wednesday, February 18, 2009

The Indiana Lincoln Penny

After a heavy day of political blogging yesterday, I was in the mood for something lighter this morning.

The U.S. mint is releasing a new Lincoln Penny series. The reverse side of the coin will have Lincoln depicted in four different scenes. The Top of the Ticket LA Times blog reports:

"The first depicts the one-room log cabin in Kentucky where Lincoln was born. It's already in circulation. The second shows him as a rail splitter in Indiana. (The mint says it should start moving into circulation in mid-May). The third, due out in August, shows him reporting to work at the Illinois Legislature, and the fourth penny, due in November, depicts the U.S. Capitol without its dome -- a symbol of the civil war that divided the nation when he was president."
It's about time Indiana gets more credit for Lincoln so I'm happy about the series. Honestly though, I think it's time to retire the penny. Pennies aren't even taken seriously as change anymore. One of the reason why it is still around is Illinois has always blocked any effort to do away with it. So elimination of the penny probably is not going to happen with an Illinois resident occupying the White House.

While I'm on the issue of need monetary changes, I have always heard Americans love their paper dollar bills. Well then they need to get over it. Paper dollars, while cheaper than coins to produce, only last for 18 months and have to be replaced. Coins on the other hand have a circulation life span of approximately 30 years. We need to scrap the paper dollar and just go to the $1 coin. I saw where the dollar is worth about a 1/4 of what it was 20 years ago. So that dollar is the equivalent in value to a mid to late 1980s quarter. Well then it is time to make it a coin instead of a paper bill.

1 comment:

Patriot Paul said...

Maybe we could all pay our property tax with coins. Take a look at what AP reports in the Star:
Tax protest: $4,000 bill paid in coins
Associated Press
Posted: February 18, 2009
"SOUTH BEND, Ind. -- A South Bend man has paid a $4,079 property tax bill in coins to protest different assessments for his home and for a rental property he owns across the street.

Richard Ross and his son-in-law lugged two carts with 11 sacks of change into the St. Joseph County treasurer's office Tuesday. He said the money was the property tax for the rental home.

"Same size house, same value, but because it's a rental home and I don't live in it, I don't have the benefit of any of the exemptions or credits," Ross said. "So, in effect, the property taxes there are four times as much as on my personal dwelling.

"It just doesn't seem fair."

Ross and County Treasurer Sean Coleman took the coins to a bank to have them counted automatically. He was short $1.07, which he paid out of pocket with a dollar bill, a nickel and two pennies.

"I'm sorry to put you through this, but I don't have any other way to protest," Ross told Coleman"