If we had a conversation about things that get no respect, one of the first items that should be mentioned is the good old copper penny.

Federal officials recently announced that they’ll no longer issue new pennies. We’ll just use the ones that are already in circulation. Eventually they’re likely to fade away.

We’ve reached a point where the penny is almost worthless. Someone who works for minimum wage makes hundreds of pennies every hour.

Many people don’t even pick up a penny if they see one on a sidewalk or in a parking lot. It’s almost insult to tell someone the phrase “penny for your thoughts”.

I remember a time when none of that was true. The penny used to have value. When I was a young child we still had penny candy. A tiny Tootsie Roll or a piece of hard candy only cost one cent. A full bag was only about 50 cents.

When I worked summers in the 1980s for Marshall’s Park and Recreation Department we had the annual Penny Carnival at Liberty Park. A ticket featured 10 punches at a penny per punch.

It only cost several punches to play a carnival game. We usually had things like a fish pond, a duck pond, ring toss, bean bag toss, squirt gun game, wheel of fortune, face painting and plenty of other entertainment.

The prizes were simple, very similar to Cracker Jack prizes. Participants could win things like a balloon, a small plastic toy solider or cowboy or Indian, a plastic piece of jewelry, or a ribbon. Kids liked the prizes even though they were very affordable.

The Penny Carnival always drew good crowds. I don’t know how it could ever be duplicated in 2026. It would have to be at least a quarter carnival.

I remember that sometimes a bank or a business would have a contest by filling a large jar with pennies. People would guess how many pennies were in the jar for the chance to win the equivalent in dollars and cents.

It was considered a worthwhile prize. People imagined that a big jar with many pennies would lead to at least enough of a prize to go out on a dinner for two.

There were phrases about pennies besides “penny for your thoughts”. They included “a penny saved is a penny earned”, “penny wise and pound foolish”, and “in for a penny in for a pound”.

There was a nice old song dating back to the 1930s called Pennies from Heaven. It rained pennies to everyone’s delight. All of those historical facts demonstrate the impact that inflation has had on our society. If we keep going at the rate it’s progressed we’ll probably see an end to nickels and dimes within my lifetime.

A wooden nickel advertising piece is now worth much more than an actual nickel. Instead of a March of Dimes we almost need a March of Dollars. The wage for my 1980s summer job was $3.85 an hour. Today’s minimum wage involves sticker shock for someone my age or older. When you think about it, however, with the modern cost of living young people need today’s minimum wage just to break even.

It’s not likely to change. The only way prices will ever go down will be if millions of people cut back dramatically on their buying habits.

I think it would be great if that happened. The short term shock to the economy might be worth it in the end; worth it because of the potential for people to live within their means, accumulate savings and then spend money without taking on massive debt.

Instead people go to box stores and fill up carts with things they don’t truly need. A $100 shopping trip is not unusual. Large retail businesses push for that kind of spending. They advertise sale prices such as 30 percent off without saying 30 percent of what.

What’s happened to the penny is a natural progression after many years of inflation and high retail spending. It’s no longer possible to think in terms of dollars and cents. We still need to be careful with our dollars. We need to use good sense. If we save a few cents enough times, it can add up even in the 21st century.

— Jim Muchlinski is a longtime reporter in southwest Minnesota