"Picking Up 1 Cent Could Win a 176 Billion Jackpot"... Value Rises Further Following Trump's Order to Halt New Coin Issuance

The Mirror Reports: High Rarity of 'Lincoln Penny'
"Historical Significance, Valued at $121 Million"
Trump Orders Halt to Production, Calling It "Wasteful"

U.S. President Donald Trump has ordered the cessation of production of the 1-cent coin (penny), amid claims that the rare 'Lincoln Penny' could be worth up to 180 billion won. The British publication The Mirror reported on the 9th (local time) that "the historically significant Lincoln Penny is expected to be valued at $121 million (approximately 176 billion won)."

1 cent coin of the United States. Photo by Reuters and Yonhap News.

The Lincoln Penny refers to the coin first issued in 1909 to commemorate the 100th birthday of President Abraham Lincoln. One side of the coin features Lincoln's profile, while the other side is engraved with wheat ears, and it was produced until it was replaced by the Lincoln Memorial Penny in 1958. Particularly, coins issued in 1909, 1914, 1943, and 1955 are highly rare. Coins with small letters under the year or printing errors are considered even more valuable. The Mirror stated, "These coins are still in circulation, so anyone might accidentally come across one."

Last year, 3.2 billion pennies were produced in the United States, accounting for more than half of all newly issued coins. However, with President Trump recently ordering the halt of 1-cent coin production, the penny is likely to disappear into history. If pennies are no longer produced, the value of rare coins like the Lincoln Penny is expected to rise further.

On the 9th of last month (local time), President Trump posted on his social media platform Truth Social, stating, "The United States has been minting pennies that cost more than 2 cents for far too long," calling it "a waste." He added, "I have instructed the Treasury Secretary to stop producing new coins," emphasizing, "Let's reduce waste in the national budget, even if it's just one penny at a time."

Earlier, the Department of Government Efficiency (DOGE), led by Tesla CEO Elon Musk, argued in a post on X (formerly Twitter) in January that "it costs more than 3 cents to make one 1-cent coin," advocating for the discontinuation of the coin. According to DOGE, the U.S. produced over 4.5 billion pennies in the 2023 fiscal year, spending $179 million (approximately 259.8 billion won) in taxpayer money.