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DeAnn (Wolkow) Kruempel
Precious to Paltry in Two-Plus Centuries
Long ago when America was made up of colonies, President Washington patted his powdered wig and established the first U.S. Mint. Unfortunately, it was not a candy company, but part of the Treasury Department that made money.
In for a penny, in for a pound, those money-makers designed a Large Cent, the size of today’s half dollar, with Lady Liberty smiling on one side. Colonists made penny ante purchases of a candle, a biscuit or a piece of candy with the coins which were made of pure copper.
“A penny saved is a penny earned.” Ben Franklin wrote it (between wild flashes of lightning) and mothers remembered it. Mr. Franklin probably penned the phrase in his annual publication, Poor Richard’s Almanack.
Poor Richard likely wasn’t poor as his almanac sold nearly 10,000 copies every year for nearly 30 years. He may also have warned readers against being penny-wise and pound-foolish. If Ben did much penny-pinching, he probably saved up a pretty penny.
But after 60 years the penny dropped. (Probably because it was so big and heavy.) In 1857 the money guys designed new coins, much smaller and composed of 88% copper. The new pennies featured a flying eagle and an Indian Head. For a few pennies, our forebears could buy a pound of coffee or cornmeal. In 1909, the Lincoln cent replaced the Indian Head Penny and featured two wheat stalks on the back.
It was a big deal to have a penny in your pocket through the early 20 th century. That small, but mighty coin could get you a Tootsie Roll or a root beer barrel. Wax bottles, small paraffin pop bottles filled with fruit-flavored syrup, cost just one cent. You simply bit off the top, sipped the syrup and chewed the wax.
One could buy and mail a U.S. postcard for one cent. Penny postcards prevailed predominantly between 1873 and 1951.
Pennies changed our language: “That hat is worth every penny!” There were lucky pennies: “See a penny, pick it up, all day long you’ll have good luck!” If you shined up like a new penny, you looked good.
Henny Penny grew to fame. Nursery rhymes taught children the thriftiness of Hot Cross Buns. We walked in Penny Loafers, the high-style footwear with a penny tucked in the top. The Beatles wrote “Penny Lane.” People spoke of pennies from heaven.
Then something horrible happened. People denounced bad pennies and how they came back, though they were not wanted. Inflation caused the purchasing power of a penny to plummet. You can hardly buy anything for a penny anymore.
Years ago, I saw coins fall as a man paid for his purchase at a gas station. He glanced down. “Just pennies,” he said and walked out the door. Since it was first minted in 1793, the penny went from precious to paltry. Sick people began to use them to describe their health.
“I feel like two cents.” Songs described the down and out: “Not a penny to my name.” Something worthless was “Not worth a red cent.”
Regarding our penniless future, likely you would not give a penny for my thoughts, but I will give my two cents worth anyway! Don’t take any wooden nickels!
DeAnn Kruempel grew up on a farm near De Smet, SD, the sixth child of Harrison and Mabel Wolkow. She attended school at Erwin and De Smet and has lived in Benedict, ND, Toeterville, Akron, Missouri Valley and Logan, IA. The author worked in school and public libraries for more than 30 years. Her column has run in a growing number of Midwest newspapers for five years.
Each year the author has published the stories into a book. She has also written a historical fiction series, “Promises to Keep.” Her ten books are available on Amazon. Signed copies may be purchased at the Harrison County Welcome Center. Contact Kruempel at deannkruempelauthor@gmail.com
