VINTAGE Comedy Nixon Novelty Penny *PREOWNED*

VERY COLLECTIBLE!
Sold in the early 1970s in novelty and souvenir shops.
From the estate collection of a professional magician.

Political souvenir!
During the 1970s, the United States faced serious economic problems including inflation, a growing trade deficit and increasing unemployment.
After becoming President in 1968, Richard Nixon's "solution" was to enact price controls on wages and goods, and restrict federal spending.
By his actions, he also ended up reducing the value of the dollar by eight percent.
So in comparison to the real penny, the Nixon penny was "8 times smaller".
This novelty penny demonstrates how people felt about their money being worth less than it was before Nixon enacted his New Economic Policy in 1971.

Definitely a conversation piece!