Will the penny press survive the end of the penny?
USA TODAY trends reporter Kate Perez explains what will happen to penny presses across the country after the last penny is stamped in November.
Robert Hoff was amazed when he first saw a coin press in operation in the 1970s. When Mr. Hof was in his 20s, a man passed him while carrying a machine and watched them press quarter pennies each.
This moment created a lifelong collecting hobby for Hoff and his family. This hobby was shared by people all over the country and around the world who loved to put coins into slots, choose unique designs that reflected their favorite attractions, and twirl their arms around until a flat bronze coin was spit out.
This is a pastime that may be affected by the U.S. government’s decision earlier this year to halt production of pennies. The U.S. Mint stopped producing the coin after President Donald Trump ordered the Treasury Department to stop minting the penny in February because it costs more to mint than it is worth. According to the U.S. Mint’s annual report, one penny costs 3.69 cents to manufacture.
The end of production leaves uncertainty surrounding Penny and its future, including how customers will use it. Even though some stores are already running out of pennies, both coin collectors and penny press manufacturers insist there’s no need to worry about the nostalgic memorabilia activity disappearing.
“There are millions of machines around the world,” Hoff, who now runs an online penny press community website, told USA TODAY. “It’s very popular in other countries and all parts of the country. Here, some coins work in pennies, but we also have coin presses that press nickels, dimes, and quarters.”
What other coin press options are available?
While posts expressing concern about the future of penny presses have been circulating on social media and community forums, press manufacturers insist the method isn’t going away anytime soon. There’s no need to worry, they say, because pennies are still in circulation and other printing methods are available.
Brian Peters and his father, Joe, have run Penny Press Machine Company in Minnesota for almost eight years, and both share similar sentiments with Hof. They say there are alternative ways to keep the hobby alive, some of which are already in use within US machines.
The most common alternatives include pressing with other types of coins, such as nickels and dimes. The company also has a machine stocked with copper “tokens” that are stored inside the press and handed out when customers pay and serve as pennies during the press, Brian Peters said. This can also be used if the customer does not have any coins.
Brian Peters said, “In the next 20 years, when people still have a lot of pennies, maybe some people don’t have pennies, but they can’t go to the (register) and get pennies, they can pay with a credit card.” “The machine dispenses pennies or tokens, but you can also use your own coins in the vending machine feeder, so we offer both options.”
These methods are already being used internationally. Alan Fleming, owner of international company Penny Press Factory, said the coins used in the machines differ from country to country, including brass coins from Dubai. Fleming has heard some concerns from customers about the machine’s future, but he doesn’t expect its appeal to diminish, especially with the availability of alternative coins and electronic payment methods.
Fleming isn’t worried, but added that the outdated nature of penny presses could have an impact if their popularity declines. It’s “a very analog thing in a very digital world,” but that’s also what makes it interesting for customers, he said.
“As retro and interesting as photo booths are, I think the appeal is because of how retro they are,” Fleming said. “The other thing that probably suggests the longevity of the penny press is that millennial parents are going to point to a penny press and say, ‘Oh, I used that when I was a kid.'”
What makes Penny Press so special?
For coin collector Mr. Hof, the appeal of long, thin coins remains the nostalgic feeling of taking them home as souvenirs. Switching to alternative methods may change the process slightly for consumers and collectors, he added, but the emotion the coins generate will remain.
“When you look at people standing in line to push a penny, you often see a lot of laughter and smiles. Generally, it’s something they want to take home and keep with them for a while,” Hoff said. “…It’s family-friendly fun. It’s wholesome and interesting. It introduces families to places and venues and it’s inexpensive.”
For the Peter family, Coin Press is truly a family affair. Beyond business, interest in elongated coins has been shared across generations. It can be passed down to any family and keep its charm alive, Joe Peters said.
From Brian Peters’ point of view, the action of pushing the coin is what makes it so unique. “This is more than just a souvenir,” he said, and this idea was echoed by Fleming and his machines in Europe and elsewhere.
“You don’t just buy something in a store. You actually made it. So you own it, and it has a memory on it. And it’s a memory of that visit,” Fleming said. “…Memories, in many ways, can’t really be bought, they have to be made.”
While it is true that the amount of pennies decreases slowly, it does not seem to happen all at once. Even if people decide to be more careful with how they spend their coins, Brian Peters still has hope for the future.
Brian Peters said: “I like the idea that as coins are being used less and less, people won’t actually need to spend this penny, but they will decide to keep it and use a penny press to make it into a keepsake that will last a lifetime.” “I think it would be a great end use for all those pennies.”
Kate Perez covers national trends and breaking news for USA TODAY. You can reach her at kperez@usatodayco.com or on Twitter @katecperez_.
