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Adkins comments on new cents

The following statement was issued Feb. 12 by the Professional Numismatists Guild regarding the introduction of the first of four new reverse designs of the Lincoln cent going into circulation this year.

“Based on the overwhelming success of the recently ended 50 states quarters program, I expect the excellent new Lincoln cents designs will be quite popular with the public,” said Gary Adkins, PNG president. “But based on their utter lack of buying power and the costs to produce them, I wonder how much longer pennies will continue to be minted.

“The United States stopped making half-cent denomination coins in 1857. The time may be near for halting production of billions of cents every year.”

PNG is a non-profit organization composed of the country’s top rare coin dealers. Its Web site can be found at www.PNGdealers.com.

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