US Mint Unveils New Pennies
Marissa Brassfield — September 24, 2008 — Art & Design
References: bizjournals
On Monday, the US Mint released four new penny designs to commemorate the 200th anniversary of Lincoln's birth in 2009. The new pennies each depict a scene from Lincoln's life.
The front of the new pennies will retain the Lincoln profile we're used to seeing. The back of the Lincoln penny will feature one of four scenes, per the US Mint: "...the log cabin in which Lincoln is said to have been born; an image of him reading while working as a log-splitter; a standing pose besides the state capitol in Springfield, Illinois; and a image of the half- finished U.S. Capitol, its state when he was inaugurated in 1861."
The front of the new pennies will retain the Lincoln profile we're used to seeing. The back of the Lincoln penny will feature one of four scenes, per the US Mint: "...the log cabin in which Lincoln is said to have been born; an image of him reading while working as a log-splitter; a standing pose besides the state capitol in Springfield, Illinois; and a image of the half- finished U.S. Capitol, its state when he was inaugurated in 1861."
Trend Themes
1. New Penny Designs - The release of new penny designs presents an opportunity for the currency industry to attract collectors and investors with limited edition coins.
2. Commemorative Currency - The trend of creating commemorative currency opens up opportunities for the numismatic industry to produce special edition coins for various occasions and events.
3. Innovative Coin Features - The introduction of scenes depicting historical events on the back of coins signals a potential disruption for the coin manufacturing industry to incorporate more storytelling and visual elements into the design.
Industry Implications
1. Currency - The currency industry can leverage the release of the new penny designs to enhance public interest and revitalize the circulation of coins.
2. Numismatics - The numismatic industry can capitalize on the trend of commemorative currency by offering limited edition coins that appeal to collectors and enthusiasts.
3. Coin Manufacturing - The coin manufacturing industry has an opportunity to innovate by incorporating storytelling elements and historical scenes on the back of coins, making them more visually appealing and collectible.
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