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Indiana Daily Times
Indianapolis, Marion County, Indiana
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Washington Treasury officials probe vanishing pennies amid record mint output, discovering slot and weighing machines hoard thousands; war tax also drains supply.
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War Tax Next on List of Where They Go.
WASHINGTON, July 28.-Treasury officials and particularly the director of the mint, are wondering where all the pennies go.
John Public can't buy anything with a penny any more, not even at a bargain rush, yet the mint can not keep up with the demand.
The mint put in circulation 513,000,000 one-cent pieces during the fiscal year.
It is continually coining pennies, yet its reserve stock remains exhausted, and the demand is still racing with the supply.
Certain interested officials made inquiries on their own account and made some surprising discoveries.
They found that one of the biggest consumers of pennies is the so-called weighing machine, where the heavyweight drops in a penny and stands on the scales to see if he has lost weight during the hot spell.
This device, together with all the other varieties of penny slot machines, they found, are pretty large penny absorbers.
One machine was opened recently and found to contain seventy pounds of pennies, or close to 12,000 of them.
The treasury is thinking of asking owners of these machines to practice opening them every few months, at least, and release some of the spare coppers.
War tax gets many more.
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Domestic News Details
Primary Location
Washington
Event Date
July 28
Outcome
mint produced 513,000,000 one-cent pieces during fiscal year but reserve stock exhausted and demand exceeds supply; one machine contained close to 12,000 pennies; war tax consumes many more
Event Details
Treasury officials and director of the mint puzzled by disappearing pennies despite high production; inquiries reveal weighing machines and penny slot machines as major consumers; treasury considering asking owners to release accumulated pennies periodically