How To Make Too Much Pennies

There is a good chance that when an item is purchased, change will be given back. It is also very likely that the change included multiple pennies. These pennies will then proceed to be left in a pocket and forgotten, never to be used again because their purchasing power is non-existent. The United States government should discontinue the manufacturing of pennies. Pennies do not serve the primary role of currency anymore. Also, pennies are uneconomical to produce and waste taxpayers’ money by lining the pockets of corporations. Lastly, many other countries have discontinued the production of their cent pieces with no negative impact.

The further we continue with Pennies, The U.S Government and taxpayers are losing tons of money on production and distribution. From Source #1 by Jeff Sommer he states, "The United States governement -- that is, the taxpayers -- lost $60.2 million on the production and distribution of pennies in the 2011fiscal year, the mint's budget shows, and the losses have been mounting: $27.4 million in 2010, and $19.8 million in 2009. " Meaning, that the cost and making of the pennies is costing taxpayers and the government to loose more money everytime. Everytime they make pennies the amount keeps climbing higher and higher. While this is one of the reasons why pennies shouldn't be used anymore, there are many other reasons why Pennies should no longer be produced.

“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.

The penny costs more to make than it is worth. For example the article Should we get rid of the Penny 8 Reasons to Keep it vs Eliminate it says,”According to the 2014 report from the US. Mint, it now costs about $0.017-or 1.7 cents-to make one cent.” The government actually lost over $55 million making pennies in 2014 alone. It also takes a lot of energy to make pennies, which costs money to. We should get rid of the penny because of how much one costs.

The cost to produce the current pennies design cost way more than what its worth. The way the penny is made now it costing the U.S. way too much money. “On average, the penny cost 2.4 cents to make but is only worth one”. The design of the penny isn't great either, it's bulky and not very pretty. Its bulkiness makes it more weighted and takes up more space. In source 4, “for 30 years, pennies have not been used on foreign military bases because they're too heavy and not cost effective to ship”. The pennies metal content is not very effective and costs too much. Some people believe that all we have to do is change the metal content. According to source 4, “ the current metal composition of the penny is copper and zinc”. Overall, if there's any chance we are going to keep the penny, the cost and way its made needs to be drastically changed.

“ The remaining 300 million or so that’s 10 million new useless items punched out every day by government workers who could be more usefully employed tracking counterfeiters,”(source C). Producing the penny is job for many americans in the US hired by the government. If you use their time better by tracking counterfeiters, all it does is need for more jobs. Which is good for the US, if we have more people working and collecting weekly paycheck, then US won’t have to worry about Welfare growing(saving money for the US). Plus with people earning more money from jobs, they will spend more and the government makes more money. This is best case scenario for everyone because people get jobs and money while government spends less on welfare and more tax money! Our economy could get out of this debt America is facing because if we can’t deal with it now, then its major problem in the future happening.This helps our present and future get better! Now another reason is citizen want to keep the penny. “ Favor Abolishing The Penny?,”(Source E). Yes, but if you dig deeper into the data, it states that the lower earning class wanted to save the money more because they knew what the penny impact on price. Don’t let that confuse you because every earning class asked, stated penny should be kept. 23% of the people wanted to get rid of it while 59% wanted to keep and 18% not decided.

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.

It might be a surprise to many Americans that their are 1.65 trillion worthless pennies in circulation. That means that there are more than 10 billion dollars worth of pennies floating around in the United States. Unfortunately, not only are pennies still being produced, but this production also costs more than the pennies are worth and harms the environment. Pennies should be eliminated.

Why do people hang on to things that have no value or use? Why can’t people learn to just let go? Often people think that just because an item has been around for a long time, that it needs to be treasured regardless of its worth. This is true of the Canadian penny. I think the Canadian government should eliminate the penny from circulation. The penny is not valuable to many Canadians anymore and we could make better use of the financial gains if we stopped making and using the penny.

How many times have you had to look for pennies to pay for an item at the store? Perhaps to throw away into a wishing well or a fountain? Finding pennies everywhere, burdening the average person with such small valued coins is just troublesome since it takes so many to create a great amount of currency. In turn, pennies should not be used and produced in the United States any longer, they’re simply not convenient to use in our everyday lives.

What would we do with the 250 billion pennies in circulation? That means that 2 to 2.5 billion dollars would be wasted, and worthless. 2.5 billion dollars could be used to help several great causes. The average penny costs 1.67 cents to make so that means that approximately 417.5 billion dollars will be wasted if we decide to abolish the penny (7 Penny Facts). That would make a substantial difference in the lives of many people. Today to try to keep costs down the penny is made from 97.5% zinc and a little copper just for the appearance (Lewis). Many people that are against the penny say that we should get rid of the penny because, “it costs more money to be produced than what the penny is actually worth.” The truth really would be that it wouldn’t save the United States any money. An economic problem would actually arise (7 Penny Facts). What happens if you go to the store and spend 5.01? You would end up getting charged 5.05 and the businesses would take the extra 4 cents. This small amount would add up very quickly and everything would cost consumers more money each time you go to get gas, groceries, clothes, etc. More money would also be put towards producing more nickels, dimes, quarters, or other paper bills because they would get used more often. Also, all of the cash registers around the entire country would need to be re-programmed, due to not having the penny values. This would cost billions of dollars. So, abolishing the penny would not save money but actually lead to a lot of other costs all related to abolishing

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,

To start, pennies should not be eliminated for many reasons one reason is that they are very helpful for charities. For example, Washington Middle School brought bags and jars of pennies and raised over $3,000 in one week for a charity penny drive. This shows that pennies can add up quick because they are worth so little. In addition, an eighth grader at WMS said, “ He was happy to give them to someone who could use them.” In others words, you can always contribute a penny to a better benefit by donating them to a greater good.

The Penny the name of a coin familiar to all of us. Throughout time every day,week,month, and year, it's getting too bothersome and old for each and every one of us. This worthless piece of copper is only worth one cent. People can't get much with pennies nowadays, they are either throwing them out or just have alternatives like electronic cards or larger cash amounts in their wallet. Nobody needs needs this coin creating any more issues than what its making already.

Pennies are made of metal. Source # 1 states, “Pennies are up too 97.5% zinc and only 2.5% copper.” All of this metal that is wasted on small coins that are only polluting the Earth could be used for more important things like, pipes or wire. Coinnew.net states, “ More than 8.1 billion [Pennies] were minted… in 2013” Imagine how much metal goes into 8.1