Will Obama retire the lincoln cent?

March 28, 2008: Barack Obama says that he will "seriously consider" retiring the penny (politico.org article).

http://www.retirethepenny.org/index.html


Yet in 2005 Obama:

The Abraham Lincoln Bicentennial One-Cent Coin Redesign Act (S-341) was co-sponsored by Barack Obama (D-IL),

http://durbin.senate.gov/showRelease.cfm?releaseId=249719

 

Log in or Sign up to hide this ad.

The President cannot unilaterally change the nation's coinage.

 

yes! retire the penny and keep the cent!

 

Is it a vote from congress, proposed by a bill?

And by the way is your photo of Spitzer before or after the emperors club scandal?

 

Like any bill, both houses (House and Senate) must pass a bill before sending to the President for his signature.

That is Spitzer after getting caught in the scandal. A photographer caught this major frown moments before Spitzer announced he was resigning office. Classic shot.

 

I remember his wife's highly medicated look when he resigned.....Now we'll ge back to the Lincoln Cent. Does Obama have ultimate veto power to stop a bill to retire the penny?

 

I think even if it makes it to him, he will not pass it due to what Lincoln stood for.(trying not to get political.)

 

Obama has no power at all - until he is sworn in on the 20th. :kewl: Then he will have the ability to veto any bill Congress presents to him. Congress can override his veto with at least 2/3 of the votes in the House and the Senate.

Do you really think Obama will sign a bill killing the coin that features his protege? The people of Illinois would never forgive him. (I'll stop there. I'm sure we are perilously close to breaking forum rules now.)

 

... I thought congress was the only body able to regulate the mint/currency...

 

Yes. Many people in this country are all too willing to attribute additional powers to the president.

 

SCOOOORE. let's just hope that congress doesn't have a prejudice against cents. I mean, come on. They're shiny. Who doesn't like shiny stuff??:goofer:

 

Only 1/3 of Americans want to retire the cent. And why would he after he has been so closely compared to Lincoln?

 

Considering we haven't seen under 3 billion per mint issued for the past 2 decades, I don't see what justification they'd have for abolishing the denomination. It's plain to me that there is a high demand for them, regardless of whether or not they sit in hoards or vaults. Once the cents are sold to the Fed Reserve, why should the Mint be concerned where they end up/ They got their money.
Guy~

 

That will never happen the cent has been around for along time it will always be needed.

Jazzcoins Joe

 

Not to change the subject too much, but if they would ever decide to quit making the one cent denomination, I have a suggestion. I think the Lincoln penny should end on a good historic note. I would love to see the return of the wheat ears on the reverse for one more year. I bet it would be overwelmingly popular. Who would a person contact to get this ball rolling? I don't think the U.S. Mint has much say in what they actually produce.

 

I agree with quartertapper, I would like to see the wheat ears back myself. I like the old designs better anyway.

 

Thank you! I knew I wasn't crazy.

 

Last year I read an article that claimed the US lost roughly $9 million minting the cent. Kind of a drop in the bucket, all things considered. I'd bet Lincoln's historical significance and importance will keep the cent alive for many years to come.

 

Yes. It's time to retire the good old penny which we all know and love!

Sad to say, the past two or three years, I've been having fun, a quiet bit of fun, just picking them up from the ground when I see them. That says volumes, to me.

But end on a high note! Have the last year include ye wheat ears of olde!