Daily Herald opinion: Our two cents: The penny’s demise brings nostalgia and a call for patience

We knew the end was near, yet that last day hit hard: On Wednesday, the U.S. Mint in Philadelphia pressed its very last penny.

After more than two centuries, the one-cent coin is no more.

As with any loss, we might pause to reflect and remember.

At one time, a penny in the palm of a child’s hand meant a gumball at the store, and finding one on the street or at the park was a sign of good luck.

Nowadays, though, gumballs will set you back a quarter, and pennies have been become fairly obsolete. Whatever good fortune the coin once symbolized, on Wednesday, the penny’s luck ran out.

“God bless America, and we’re going to save the taxpayers $56 million,” U.S. Treasurer Brandon Beach said just before hitting a button to strike the final penny, relegating the coin to history.

It was President Donald Trump who sealed the penny’s fate earlier this year, calling them wasteful and noting they cost more to mint than they are worth.

That is indeed the case. But pennies have been in production since 1793, so it’s natural to feel a bit wistful as we contemplate their final act. They’ve survived more than 200 years of American history, after all, bearing President Abraham Lincoln’s likeness since 1909.

Plus, the nickel costs nearly 14 cents to make — more than it costs to crank out dimes — so there’s that to figure in as well.

Pennies, of course, remain legal tender and will still be around for quite a while.

And they have a unique place in our vernacular, as we regularly offer a penny for a person’s thoughts, label unsavory characters bad pennies and note, as our frugal grandparents once did, that a penny saved is a penny earned.

But while many dismiss their demise with a hearty “good riddance,” there could be a little confusion in the wake of the penny’s last stand.

Some retailers find the end abrupt, and complain it came without government guidance on how to handle the change, The Associated Press reported this week. They’ll have to grapple with the question of rounding up — or down — for cash purchases that don’t neatly fall into nickel or dime territory once the penny section of cash registers runs dry.

Jeff Lenard of the National Association of Convenience Stores said his group has been pushing to drop the penny for 30 years, AP reported. “But this is not the way we wanted it to go,” he added.

We’ve seen signs posted in anticipation of price questions, and urge retailers to be up front with customers. And — just our two cents here — we as customers need to be a bit patient as we all adapt to the post-penny world.

So long, little guy. Thanks for the memories.