The End of an Era for Cash
Coins and bills that once jingled in pockets around the world have faded away, replaced by new money or digital payments. From the U.S. penny to Europe’s old currencies like the French franc, these iconic pieces of money carried history and culture but couldn’t keep up with modern times. The U.S. recently announced it will stop making pennies in 2026, saving $56 million a year, following the lead of countries like Canada and Australia. Let’s take a look at some famous coins and bills that have disappeared and why they’re missed.
The U.S. Penny’s Farewell
The U.S. penny, around since 1793, is on its way out. It costs nearly four cents to make a one-cent coin, which is mostly zinc with a copper coating. Last year, the U.S. Mint lost $85 million producing 3 billion pennies. Canada ditched its penny in 2012, and Australia and New Zealand did the same years ago. Pennies can still be used, but they’re piling up in jars about 60% of U.S. coins sit unused. Some love the penny for its link to Abraham Lincoln, but others say it’s just not practical anymore.
| Item | Details |
|---|---|
| U.S. Penny Cost | ~4 cents to produce |
| Annual Loss (2024) | $85 million |
| Pennies in Circulation | ~60% idle in jars ($14 billion) |
| Discontinuation Year | 2026 (U.S.) |
Europe’s Lost Currencies
Across the Atlantic, the euro replaced beloved currencies like the French franc, German mark, and Italian lira in 2002. The Greek drachma, one of the oldest currencies, vanished in 2001 when Greece adopted the euro. These bills and coins were more than money they were symbols of national pride. In France, people still talk fondly about the franc, and German collectors treasure old marks. While the euro made trade easier, many miss the unique designs and history of their old money.
Other U.S. Coins Left Behind
The U.S. has phased out other coins too. The half cent, made until 1857, was dropped because it was worth too little as prices rose. The three-cent coin, used during the Civil War for small purchases, didn’t last long. The twenty-cent piece, minted from 1875 to 1878, looked too much like a quarter and confused people. Even the Susan B. Anthony dollar (1979-1981, 1999) flopped because it was too similar to a quarter. These coins are now collector’s items, some selling for thousands.
Big Bills That Faded Away
High-value U.S. bills, like the $500 and $1,000 notes, were discontinued in 1969 due to inflation and concerns about money laundering. The $500 bill, featuring President William McKinley, and the $1,000 bill can be worth way more than their face value to collectors today. The rarest of all, the $100,000 gold certificate with Woodrow Wilson, was used only between banks during the Great Depression and isn’t legal for the public to own. These big bills tell stories of a time when cash ruled.
Why We Miss These Coins and Bills
Old money isn’t just about buying things it’s about memories and culture. Pennies marked with Lincoln or wartime steel versions from 1943 are pieces of history. Europe’s old currencies carried art and national heroes. As digital payments take over, physical cash is fading, but collectors and historians keep these coins and bills alive. Whether it’s a penny in a jar or a rare $500 bill at auction, these treasures remind us how money shapes our world and its stories.
