A Sincere Apology

This is my apology to any and all of you who have ever referred to the U.S. One Cent as the "penny" and have been chastised for use of the term "penny" when referring to the U.S. One Cent coin. Mea culpa; on bended knee pleading forgiveness
Today is a day that reminds of why my Dad used to always say, "Learn something new every day or you've wasted your time." Today is a monumental day of education for me. I was perusing the Federal Reserve Cash Services Manual of Procedures and what did I read on page 11, copy attached.
Seems the Fed believes America mints "pennies". If the Fed says so, it must be

 

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I've seen someone post on /r/coins an insert from an official mint set (or proof set?) that used the term penny so it seems that even the mint accepts the term.

Quick update: Check out this page on the US Mint website for kids, it explicitly and by no mistake calls it the penny numerous times.

 

It's still a cent. https://www.usmint.gov/learn/coin-and-medal-programs/coin-specifications

Colloquially it's a penny.

 

No need to apologize as even the US Mint uses the term "penny"

 

Yeah? Like they really know what they are doing?

 

Well that's government for you. Let's put it in writing and call it a penny but on the reverse of the coin we need the word Cent.

 

My thought exactly, but better enunciated.

 

I tend to call pre-'75 one cent coins "cents", and post-74 coins "pennies". But in recent years I often call the new coins "toxic little slugs" and somehow I still need more words to show the depth of my contempt.

 

Guess we needn't fought that 'independence thang' after all.
(Depending if you want to be correct or 'colloquial')
J.T.

 

Believe me, I had to think how to put it.

 

Sometimes the words roll right off your fingertips and other times, it takes a crowbar to pry them from your mind. When I write my novels, the words sometimes flow like water and oft times, they do not exist, so I write whatever is in my head at the time, then go back the next day and modify what was written or...

 

No harm, no foul. Just don't do it again.........and don't sweat the small stuff.........picayune is just that.

 

E Picayune Unum

 

Well the colloquial term for the cent did not come from the British, it was based on the New York Money of Account. New York was the financial center of the country and its money of account was well known everywhere. The New York penny was the only unit that came close to the value of the US Cent (and had been in usage longer) The New York penny was valued at 90 cents to the Spanish Milled Dollar and the cent was 100 to the dollar. (Now name for the New York penny may have been based on the British unit but with the difference in value even that is questionable.)

 

https://www.treasury.gov/resource-center/faqs/Coins/Pages/denominations.aspx

Glossary of terms: Denomination
Refers to the different values of money. U.S. coins currently are made in the following six denominations: cent, nickel, dime, quarter, half dollar, and dollar.

What is the correct term for a one-cent coin?
The proper term is "one cent piece," but in common usage this coins is often referred to as a penny or cent. Many times, even the Treasury Department and the United States Mint use the term penny because that is what is normally referred to in general use by the public.

Are there any plans to remove the one-cent coin (more popularly known as the "penny”) from circulation?
You may be interested to know that the penny is the most widely used denomination currently in circulation and it remains profitable to make. Significantly, it is Congress that determines the denominations of coins that the Mint must produce and put into circulation. Each penny costs .81 of a cent to make, but the United States Mint collects one cent for it. The profit goes to...

 

https://www.usmint.gov/learn/history/historical-documents/coinage-act-of-april-2-1792

SEC. 9. And be it further enacted, That there shall be from time to time struck and coined at the said mint, coins of gold, silver, and copper, of the following denominations, values and descriptions, viz. Eagles—each to be of the value of ten dollars or units, and to contain two hundred fort-seven grains and four eighths of a grain of pure, or two hundred and seventy grains of standard gold. Half eagles—each to be of the value of five dollars, and to contain one hundred and twenty three grains and six eights of a grain of pure, or one hundred and thirty five grains of standard gold. Quarter Eagles—each to be of the value of two dollars and a half dollar, and to contain sixty one grains and seven eights of a grain of pure, or sixty seven grains and four eights of a grain of standard gold. Dollars or the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver, Half Dollars—each to be of half the value of the dollar or unit, and to contain one hundred and eighty-five grains and ten sixteenth parts of a grain of pure, or two hundred and eights of a grain of standard silver. Quarter Dollars—each to be of one fourth the value of the dollar or unit, and to contain ninety-two grains and thirteen sixteenth parts of a grain of pure, or one hundred and four grains of standard silver. Dismes—each to be of the value of one tenth of a dollar or unit, and to contain thirty seven grains and two sixteenth parts of a grain of pure, or forty one grains and three fifth parts of a grain of standard silver. Half Dismes—each to be of the value of one twentieth of a dollar, and to contain eighteen grains and nine sixteenth parts of a grain of pure, or twenty grains and four fifth parts of a grain of standard silver. Cents—each to be of the value of the one hundredth part of a dollar, and to contain eleven penny-weights of copper. Half Cents—each to be of the value of half a cent, and to contain five penny-weights and half a penny-weight of copper.

 

So right there in black and white and red...a cent is worth 11 pennies? lol oof

 

Wow, how old are those quotes? The cent hasn't cost less than a cent to make since about 2007. It has been unprofitable for about 13 years.

 

If you are a kid the US Mint will tell you the coin is called a penny and it is valued at one cent.

https://www.usmint.gov/learn/kids/library/circulating-coins/penny

 

A whole new meaning for "My 2¢'s worth!"
J.T.