Hidden Corners of HistoryFunny Money

Funny Money

Jarrod E. Stephens

The Ashland Beacon

If you don’t know everything there is to know about everything, you’ll sometimes stumble upon a surprise. As my sons were paying for items at the Smoky Mountain Knife Works, one returned smiling with his change. “Look what the guy gave me for my change,” he said. In his hand was a crisp $2 bill and a presidential gold dollar. The $2 bill looked as if it had just been printed and the coin shimmered. For the next few moments, we looked at the strange currency that is familiar to most but for him it was a cool find.

That moment has replayed in my mind for several weeks now and it has made we think about why we have some strange currency or what I consider “funny money.” Needless to say, I learned a lot about our currency with a simple search. Half cents, two cent pieces, three cent pieces, half dimes, silver dollars, gold dollars, $2 bills and many other forms of currency have jingled and rustled in pockets for generations and while most are now novelty or collectors’ items, some still land in your hand from time to time.

One that strikes me as strange but was an important addition to our economy is the two-cent piece. Although it had a short production run, 1864-1873, the two-cent piece helped to ease production of the one-cent piece. That’s amazing that it even mattered how many one-cent pieces were produced but we must understand the purchasing power and popularity of the one-cent piece during that time.

You could buy simple things such as a candle or a piece of candy for a penny in the 1860s but something such as soap or a newspaper would cost 4 or more cents. The two-cent piece made it easier to pay since you didn’t have to use single cents. While it helped to ease pressure on the one-cent piece, the most notable change that it brought was a statement that was minted for the first time. The two-cent piece was the first coin to have “In God We Trust” on it.

While you likely won’t find any half-cent, two-cent, three-cent pieces or half-dimes in circulation, much like in my son’s experience, you may indeed have a Susan B. Anthony, Presidential or Sacajawea $1 coin show up in your change. While none of the coins are rare for the most part, seeing and examining them reminds us of the many faces that helped to build our great country.

            Each President from Washington to #41, George Herbert Walker Bush, have been printed on the $1 coin. Jimmy Carter is the only exception within that range but since he recently passed away, he will be on a coin once it is approved by Congress. Sacajawea was an important instrument in Lewis and Clark’s success on their journey across American in the early 1800’s. Susan B. Anthony was a voice for the women’s suffrage movement which won women the right to vote.

In the early 1770s, the colonies began to rebel against Great Britain in an effort to gain independence, the need for funding arose. That’s whenever the Second Continental Congress voted to issue money that would become known as “Continentals.” One of the denominations was the $2 bill. Can you believe that that first $2 bill was printed on May 10, 1775? That means the $2 bill is older than America!

Like all currency, the $2 bill has undergone many changes. It once had Alexander Hamilton’s face on it. In 1869 Thomas Jefferson’s image was placed on the front and Monticello appeared on the back. In 1976 the John Trumball painting showing the signing of the Declaration of Independence was placed on the back to commemorate 200 years for our nation. Millions of $2 bills are still printed and circulated each year.

In May 2025 it was decided by the U.S. government to phase out the production of pennies. The cost of producing the penny is more than the penny is worth. I guess that is a good way to go broke. Although the penny will remain in circulation and will remain legal tender, production will halt in 2026. That will be a strange change, no pun intended, to our common currency. I always looked forward to seeing the first new shining pennies from each mint year showing up in my change. It was nice to see Abe Lincoln with crisp hair.

Change is in the air for sure when it comes to currency. Use of digital currency such as Bitcoin and other cryptocurrencies truly takes all the “jingle” from your pocket. Slowly but surely the money we spend is changing shape and form. It may not be long until every piece of physical money that is common to us today becomes “funny money” or a relic to the next generation.