The new Lincoln pennies prove that a penny might be much worth than its face value. Released on May 14, the Lincoln Penny created traffic jams and a quarter-mile-long line of about 3,000 coin collectors and Lincoln enthusiasts.
The new Lincoln penny celebrates Abraham Lincoln's 200th birthday and pays homage to his years as a Hoosier. The penny's backside depicts a teenage Lincoln reading a book while taking a break from rail splitting.
Implications - Historical memorabilia is popular among consumers because it satiates consumer desire to feel important. By owning a historical artifact, consumers feel they have more social value than people who don't own the specific item. Corporations looking to appeal to patriotic consumers may therefore create products with references to specific historical events in order to garner their business.
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Lincoln Penny Celebrates His 200th Anniversary
- By: AymanMay 15, 2009 Updated: Aug 4 2011