One-cent Penny History

Hello, and welcome to Pendant and Ring! Today we are discussing the history of the penny, and speculating about one cent futures.

The first decimal system appeared on the Indian subcontinent after the development and naming of the concept of zero. It took until the 6th century to identify, prove, explain, and create a base-10 system that included sunya (zero). The idea then traveled along trading routes to the Middle East, arriving in Baghdad and Damascus during the 9th and 10th centuries. During the 11th century the Hindu-Arabic numerical system arrived in Europe, but the first one-cent coin was still centuries away.

The first official cent coin appeared in the fledgling United States of America in 1787, followed by a few emergency tokens. The first one-cent coin was not yet called a penny, but rather a Fugio. You can read more about the Fugio in our Coin Motto Series. The first penny was minted in 1793 at the first Philadelphia Mint.

The Federal U.S. Penny is also called the flowing-hair cent, and some versions are called the chain cent. On the obverse, the coin shows a flowing-haired maiden facing right into the wind. Liberty is engraved above, and the date is engraved below. Some flowing-hair coins fill the space below the head and above the date with a three-leaf branch, while others show strawberry leaves with bud fruit.

There are two Federal U.S. Penny varieties. They have reverse and edge differences. On the chain-cent, the reverse showed a chain looped in a closed circle around the words “ONE CENT;” and “THE UNITED STATES OF AMERICA,” without. The edge of the coin showed a finely detailed leafed vine that did not wrap all around, but was interrupted by a reeded edge.

On the other variety, the reverse shows an olive branch wreath with “ONE CENT” within, and “UNITED STATES OF AMERICA” without. This version also shows the fractional value of the coin, 1/100 under the wreath bow. Along the edge of this version, we see the engraved words, “ONE HUNDRED FOR A DOLLAR” and a decorative leaf.

The early penny was a large copper piece, about 26-27 mm across, just smaller than a Kennedy Half Dollar. The penny had enough buying power to purchase a tall glass of milk or a lunch-size loaf of bread. Today, a single cent is a fraction of the tax collected on a purchase. Since the late 1970s, even a piece of bubble gum costs more than a penny.

A new design on a slightly larger copper planchet (29mm), the liberty-cap cent, was minted in 1793. Liberty’s flowing hair was restyled, with less wind, and a Phrygian cap was added behind her head, she was not wearing it. The reverse remained like the first wreath-backed cent. There are a few date varieties and two distinct faces; one engraving shows a more pointed chin, and the other a softer profile.

In 1796, the design was updated. They replaced the symbol of rebellion with a pin-back ribbon for more pronounced waves, introduced modest fabric folds of a drape, and aged Liberty’s profile as she grew into a symbol of an honorable woman rather than a rebellious maiden. This coin remained in use until 1860, but was no longer minted after 1807. The edge was simplified, no longer featuring embellishment.

Briefly, from 1808 to 1814, the Capped Bust penny circulated. Liberty was flipped, to be left facing, she was no longer a maiden, and wore a ribbon of Liberty in her hair. The thirteen colonial stars made their debut, in two groupings. On the reverse, the fractional denomination of 1/100 was removed.

From 1816 to 1835, the Matron-head Liberty Penny was minted on 28.5mm copper planchets. This rendering of Liberty featured a mature woman, facing left, with a headband bearing the word LIBERTY. She was surrounded by 13 stars representing the first British colonies, with the date centered below. The reverse remained a wreath back, but the fractional denomination was removed. The edge remained unmarked.

From 1835 to 1839, the modified Matron head circulated on a slightly smaller copper planchet. The 27.5mm coin featured a slightly younger rendition of Lady Liberty facing left.

During the 1800s, a number of Hard Times tokens were minted by merchants to maintain trade. These often carried a one-cent value, but were not official, federally mandated one-cent coins.

During the Civil War, a plethora of emergency coinage and tokens were issued on both sides. The one-cent varieties were typically milled by shops on copper, 19mm planchets.

From 1839 to 1857, the Matron braided her hair; then the mint ran a trial run of Flying Cents, with an eagle in flight, but settled on James Longacre’s Indian Head design.

The smaller, 19mm, Indian Head Cent circulated from 1859 to 1901. The designers modified the reverse by adding a shield at the top of the wreath in 1860, making two varieties. The composition changed to 95% copper, 5% tin and zinc, making the coin bronze.

In 1909, the Lincoln bust debuted with the words In God We Trust on the obverse. Victor Brenner engraved Lincoln’s right-facing portrait to replace the Matron Liberty bust. The new pennies were minted on smaller 19mm bronze planchets. The reverse changed as the wreath was replaced with two wheat ears, serving as an exterior circular element to contain the denomination and country name, while connecting the US motto, E Pluribus Unum, across the top.

In 1959, the Wheat Ears penny was remade to showcase the Lincoln Memorial on the reverse with the Country name and motto above, and the denomination below. The coin’s composition and size were unchanged.

In 1982, the composition was changed. The planchet was made of zinc with a copper plating.

In 2009, the penny underwent a radical redesign with four different varieties. The varieties showed scenes representing Lincoln’s life, including his “Birth and Early Childhood,” “Formative Years,” “Professional Life,” and “Presidency.”

From 2010 to 2025, the U.S. minted the Shield reverse Lincoln penny. It was minted on a 19mm, copper-plated zinc planchet. The reverse features a ribbon bearing the value, ONE CENT, over a combined 14th-century and Gothic shield style, with the motto across the top of the shield and vertical stripes through the body. Above the imagery, the legend reads, “UNITED STATES OF AMERICA.”

Pennies are abundant in circulation, but Congress voted to halt future penny production on Monday, September 28, 2026, and sent a bill to the White House for executive branch approval.¹

The US is not alone in the penny banishing. The increased use of debit and credit cards renders the penny and afterthought. In cash purchases business owners have often kept a penny cup near the cash register, but, now, it seems the question is, “Who gets to keep the change?”

Other countries, including Canada, Chile, Colombia, Costa Rica, the Eurozone, Hungary, Uzbekistan, Australia, and New Zealand, no longer mint one-cent pieces. Additional countries have also started removing their one-cent coins from circulation, but have not legislated a restriction on future production.

Is this the penny’s last chapter? Only time will tell. Subscribe for updates in the penny saga, and other coin and jewelry conversations.