Pennies Meaning: Definition, Examples, and Translations
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pennies
[ˈpɛniːz ]
Definition
currency unit
Pennies are the smallest denomination of currency in the United States, equal to one cent. They are made of copper-plated zinc and feature the image of President Abraham Lincoln on one side. While their primary role is as a means of exchange, pennies are often collected by numismatists and used in various games and activities. Due to inflation, they are becoming less common in transactions, though they continue to hold sentimental value for many.
Synonyms
cent, one cent piece, penny coin.
Examples of usage
- I found a jar full of pennies in the attic.
- He dropped a few pennies into the fountain for good luck.
- The cost of the item was just a few pennies.
Translations
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Interesting Facts
History
- The first pennies were minted in the early 7th century in England, representing a critical development in currency.
- Pennies were originally made of pure copper but became less valuable over time as costs of materials rose.
Economics
- In the U.S., pennies make up a significant portion of pocket change, despite being the least valuable coin in circulation.
- Despite their low worth, studies show that the production of pennies costs more than their actual face value due to manufacturing expenses.
Cultural Impact
- Pennies are often associated with the phrase 'a penny saved is a penny earned', emphasizing the value of saving money.
- In various cultures, finding a penny is considered lucky, leading to the saying, 'Find a penny, pick it up, all day long you’ll have good luck.'
Pop Culture
- Pennies have appeared in numerous movies as symbols of luck, poverty, or transitions, highlighting their cultural significance.
- Songs about money often reference pennies to convey themes of saving, value, or economic hardship.
Origin of 'pennies'
Main points about word origin
- The word 'penny' comes from the Old English word 'penning', which referred to a coin used in England.
- Historically, the term for a penny is derived from a silver coin called the 'denarius' used in ancient Rome.
The word 'penny' originates from the Old English term 'pening', which referred to a coin or a monetary unit. Its roots can be traced back to the Proto-Germanic word '*panninga', which referred to a coin or a piece of money. Over centuries, the term evolved and was adopted in various forms by different languages, reflecting the cultures that produced their own versions of small denomination coins. The modern British penny, which is derived from 'penny', continues to use the same name, emphasizing the historical continuity of currency terminology. In the United States, the penny was introduced with the Coinage Act of 1792 and has maintained its designation as the one-cent coin ever since. Despite its long history and cultural significance, the penny's practicality has come into question in recent years, leading to discussions about phasing it out of circulation.