July 9, 1974
“A U.S. Savings Bond earning 6% is much better investment than the unwanted, unused and unappreciated pennies now saved in dresser drawers, pickle jars, and shoe boxes”, says Mrs. Mary Brooks, Director of the United States Mint.
Mrs. Brooks stated that there is no numismatic value to the 64 billion Lincoln pennies produced by the U.S. Mint during the past 15 years. She urges all Americans to exchange their pennies for U.S. Saving Bonds which earn 6% interest.
The United States Department of the Treasury will issue a “Special Citation” to all Americans turning in $5.00 or more in pennies.
Launching the Pennies for Bonds Program at the U.S. Treasury in Washington, D.C., Mrs. Brooks exchanged two $25.00 U.S. Savings Bonds for pennies delivered to her by Misses Paula Dobriansky and Harriet Skubik, (see photo).
Miss Paula Dobriansky is a student at Georgetown University and Miss Harriet Skubik is a student at Glasgow Intermediate High School in Fairfax County, Virginia.
“The 6% U.S. Savings Bond will mature in 5 years so that $18.75 will be worth $25.00 whereas 1875 Lincoln pennies will still be worth only $18.75 five years from now”, said Paula Dobriansky as she exchanged her pennies for a $25.00 U.S. Savings Bond.