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Show BILLIONS OF PENNIES. What becomes of the pennies? Who uses them nowadays in these times of high prices? Why are they coined? These questions are asked frequently by people to whom the nickel is the least denominator de-nominator in the economic problem. The answer is not far to seek. Millions of pennies are spent daily in the purchase of newspapers. That is one use to which the little brown coin is put. And Uncle Sam does a large business in retail stamp selling at one and two cents each. But there is another use that calls for an immense volume vol-ume of this form of money. According to a report just issued by the General Vending Corporation, which maintains slot machines all over the country for the sale of chewing gum, candy and other small package goods, no :ss than three and a half billion pennies passed through its machines in 1927. It is now estimated by the Treasury Department, note is made in this connection, that about 4,721,287,900 pennies are in circulation. Hence, in view of the various functions of the) penny in daily trade, it is obvious that the same coins pass through the machine slots more than once during the year. It Would seem, therefore, that the penny is one of the most actively circulating mediums of exchange in this country. Those who a few years ago protested that the placing of the head of Abrahrrt Lincoln on the penny was not in keeping with his place in the hearts of the people, may be comforted by the assurance which these figures give that the little Lincoln coin is by no means a negligible neg-ligible quantity of American specie. Boston Transcript. |