Difference Between One Cent And A Penny

The year that the composition of the pennies changed started after 1982, it wasn’t until 1983 did the pennies composition fully changed. Before 1982, the U.S. mint companies made the pennies with a metallic composition of 95% copper and 5% zinc. Sometime in 1982 the U.S. mint companies started to change the metallic compositions of the pennies to 97.5% zinc and 2.5% copper. It wasn’t until 1983 did the metallic compositions of the pennies fully changeover to 97.5% zinc and 2.5% copper (United, 1). The United States Mint source confirmed our experimental conclusion that the pennies composition changed around 1982 to 1983, when we measured the light and heavy pennies, the pennies after 1984 weighed an average of 2.5089 grams. But the pennies

To begin with, pennies aren't the only coins that cost too much to make. According to Jeff Sommer, who wrote the article “Penny Wise,or 2.4 Cents foolish?” he states “Each

In 1909, on the 100th anniversary of Abraham Lincoln’s birth, the one cent coin (penny) was introduced. Between 1864 and 1982, the penny was made of 95% copper and 5% zinc and tin. In the 1980s the cost of producing the penny grew to be higher than its face value so, in 1982 the composition of the penny was altered to have a core of zinc metal with a thin copper shell. The percentage of copper now allowed in the penny by Congress is 2.5% by mass.

The United States needs the penny today so they can get exact change. If someone owed three cents how do they pay it? The person would need a nickel, but they wouldn’t get two cents back in change. People would have more coins of higher value. If someone bought something for $1.97 they wouldn’t get change back, because there would be no pennies.

The penny must be eliminated as quickly as possible. The United States is in massive debt and instead of cutting programs which are vital to the economy and to citizens of the United States, the United States must find ways to cut expenses in parts that are often over looked. One great way to cut down on unnecessary spending is the penny. Believe it or not, the penny, the smallest denomination of currency in the United States is a huge waste of money. The one cent denomination has no use. You can no longer “buy anything with a penny” anymore. (William) The only use the penny has is to pay for the taxes, which, can be rounded off to the nearest nickel thus obliterating the need for a penny.

The U.S. penny has been a standard in our currency system for almost as long as our country has existed as a sovereign nation, but due to inflation, production costs, and the changing times we live in, it is no longer a sustainable unit of currency and only serves to increase our national deficit and waste our time. When the penny was produced for the first time in 1792 by the U.S. Mint, it was made of pure copper, featured a woman with flowing hair, and was inscribed with the words “Liberty”. Since then, the design and composition have changed numerous times to reflect our changing nation. Despite its fading glory, the penny has been kept alive by numerous false lobbying fronts and a stubborn ideology, but

In America, there is still a debate if the penny should be eliminated. If it was to be eliminated it would still be used, but in a minimal way. In Canada, the Canadian penny was eliminated due to cost, time, and the country believed it was a waste of money, “inflation reduced its purchasing power by 95% since it was first minted domestically in 1908: back then the cent could buy goods of the cost of $0.20, today in other words.”(The Economist). Once a small coin can no longer be used to buy individual items at that price, but it is only used to make change, it becomes more trouble than it is worth. Canadian pennies cost “1.6 Canadian cents to manufacture, and the government expected to save $11 million a year by eliminating them”(The Economist). But that sum equivalent to 0.0006% of GDP is small change. Canadians feel that eliminating pennies is that their feeble purchasing power means dealing with coins,

“A penny saved is a penny earned,” to quote Benjamin Franklin. Unfortunately a penny saved is not worth a whole lot anymore. Like many other once useful things the penny has become obsolete. The production and use of the penny in the United States monetary system should be abolished.

In 2011, it cost 2.4 cents to produce the penny. The penny was first minted in 1857. It cost 2.4 cents to make the penny. Also the United States loses 1.8 cents for every penny being made. In conclusion we should get rid of the penny. The United States should get rid of the penny because it is people are not using them, cost to much, and other countries have already dropped the penny.

Money is the crux of society. Without it, anarchy would break out. Bargaining would fail as people would claim the trade wasn’t fair, thievery would explode across the globe, lazy people would do nothing, and people wouldn’t have motivation to do anything but help their own family and selves. Yet, while everyone knows money is important, is ALL money important? For centuries, the penny has been part of American currency. And back in the day, it served a great purpose. Pennies could buy candies, breads, and many other things all on their own. But as time has changed, so has the value of the penny. As costs went up, the value of the penny went down. And with its lesser value, some people wonder if it’s even worth it to keep the penny around. But the answer to that little puzzle is as easily seen as a jigsaw meant for four years olds is put together. The penny must be kept.

The penny has a lot of history, through the 200 years the penny changed design and value. Based on the article “The Ever-Changing Penny.” The first pennies were minted in 1857, they were very large, larger than a modern day quarter and had different images of the statue of liberty on the front(4). With this example, one can see,there were several visions for the penny before the final product of the Abraham Lincoln penny in 1909. The history of the penny reveals more than just a coin, it exposes a piece of american culture. The penny has influenced our language, giving us a number of idioms, such as “A penny for your thoughts” And “Not one red cent”(4). Despite its cultural influences the penny is under attack currently, the reason? Because making the penny also costs money, more than its worth,in 2011, it costs the U.S. more than 2.4 cents to produce the penny. The History of the One-Cent piece is a curious one. How long it will remain a part of your spending currency is yet

To begin with, the penny has been around for a long time, it has influenced our culture and has created many sentimental sayings. “The history of a penny reveals more than just a coin, it exposes a piece of American culture.” (Story) The penny has changed many times. There have been many designs all of which reflect the time they were made. There are also idioms that were created because of the penny, some of which are still used to this day. The saying “ A penny for your thoughts” for

Between 2001 and 2006, there has been an increase of .6 cents for the reproduction of the penny. This increase displays economic problems that may lead to fatal ones. The penny is composed of 2% copper and 98% zinc. These elements are exponentially in demand causing the price of these materials to skyrocket. Many Americans think the penny is putting our country in jeopardy with financial losses. This meaningless coin is losing money for the mint, and should be abolished.

The penny has been the lowest domination for 154 years. The United States started using the penny in 1793. President Abraham Lincoln is on the penny. The penny is made out of copper. The average penny last twenty-five years.

Plautus once said “You have to spend money to make money,” a quote made painfully true by the penny, a coin worth 1/100th of a dollar. The penny’s story starts in 1792 with the first U.S. Mint which produced the dime, quarter, nickel, penny and half penny which we will get back to later. Pennies were originally made of 100% copper, however, as prices of copper rose they soon started to make pennies out of 95% zinc and 3% copper, which is how they are made today. Soon after this, the raw material of pennies began to cost more than the penny itself was worth, therefore people began to melt them down and sell the material for profit. When this occurred, instead of the government getting rid of the pennies all together and being happy citizens where removing them from circulation they made melting the currency down illegal and continued producing 4 billion pennies a year! You can find these tiny useless coins anywhere from in your couch cushion to on the sidewalk. The reason we should stop minting pennies is that they cost money, waste time, are bad for the environment, and they are useless.