Philip Diehl Speaks about the US Penny in the Market

In the United Kingdom, the parliament has been busy making reforms that can benefit the country. For a very long time, the parliament has been discussing the issue concerning the one penny. After a long time, majority of the lawmakers decided that it was important to retain the penny. The monetary system in the UK has been asking for the removal of the copper coins for a very long time.

The government has felt that this is not the right decision to take. According to the finance minister who has researched so much about the matter, there are many citizens who are still using cash on various activities. After the debate ended in Britain, the people in the US started the discussion concerning their penny and whether it is required in the market. Read more: US Money Reserve | Manta and US Money Reserve | BizJournals

There are some individuals who have asked for the government to get rid of the coins because it is rarely used, and its value keeps going down. US Money Reserve, an institution that focuses on precious metals, has leaders who know more about the coins that are in circulation in the market.

Philip Diehl, the person who sits as president of US Money Reserve spoke about the penny subject recently, giving people the kind of insights they want to know about the coin. According to Philip, the one-cent coin is considered to be the first ever currency that was established by the United States government.

However, the penny never featured the president of America in the past, Abraham Lincoln. The coin has always been recognized as a symbol of the American nation because it celebrates and recognizes one of the most respected presidents in the history of the country. The market value of the coin doesn’t matter anymore to the citizens.

US Money Reserve president says that the composition of the coin isn’t what it used to be in the past. With the changing time, the composition is different because of the modern ways that have been used in the process of making the coin. In the traditional times, the penny was believed to be made of coin.

However, after the end of the second war in the world, the coin composition started to have some zinc and copper materials. The cost of acquiring copper started going up and there were many restrictions surrounding the use of some metals in the American market. Philip Delhi advice concerning the coin has been received positively by the people who use the coin.

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