Importance Of Pennies

Imagine carrying around worthless pennies everyday. Each and every day the pennies value goes down, so why continue making it? The way the penny is designed, makes it cost too much to make.removing the penny will have little to no impact on the united states. When the penny is gone we will just round the price to the nearest five cents. I believe the penny should be banned.

For those that agree, with phasing out the penny they will argue that it cost more money to make and mint the pennies than what they’re worth. However, Ted Waterhouse begs to disagree. According to Ted Waterhouse “ Last week, Washington middle school hosted its annual Penny Drive… they raised over $3000 in one week” (Waterhouse). As shown, it took one week to raise $3000! Imagine how much they’ll raise in two weeks or even a month. To summarize, pennies may be small and worthless by themselves but when you add them together they are a powerful group.After All, there are power in

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 only difference between the U.S. and those countries is that they have made the progressive step to stop producing pennies. Their system is now as follows: Pennies can still be spent, but as no more production exists to balance out wear, tear, and loss, the population of pennies will gradually decrease until they become something of the equivalent of the U.S. 2 dollar bill. Values between 5 cent intervals are rounded up or down, and neither consumers nor vendors need to worry about overpaying/underearning, as the amounts rounded up and down balance each other out in the long run (.02 saved one transaction becomes .03 spent the next, and so on). Credit card transactions still go down to the cent, but as digital currency is handled by computers, it doesn’t pose any inconvenience to

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.

Should we keep the penny? The US has been considering abolishing the penny we should keep the penny because of the History and it's valuable to charities and sentimental value

The United States should get rid of the penny because it is people are not using them, cost too much, and other countries have already dropped the penny. The United States should get rid of the penny because we never use it, it cost to much to make and other countries have already dropped their penny. So if the United States gets rid of the penny it might affect the price in a increase but it also might affect them in a decrease so no matter what over this topic the world will not end and we will be

Not only has the penny been around for more than one millennia, but it has become very important to our society, even if its cost doesn’t mean a whole lot unless in a large group. It has worked its way into the zinc

Many people think we should remove the penny from the American currency, should we? In my opinion we should not get rid of the penny. Pennies tend to have a lot of sentimental value. Pennies also add up when in numbers. There's a risk that stores will not be fair in rounding.

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.

Granted, pennies waste time. MoneyCrasher.com had this to say: “Often, when we pay with cash at a store, the total amount doesn’t end in a multiple of $0.05… [so] we have to either hand over some pennies or receive some in change” (Livingston). This information is basically stating that since the amount of total cost usually doesn’t end in a multiple of

Is the penny real relevant in our economy? There is no real need for the penny. People think pennies are a waste of tax money. Other people think that penny's are a good thing. Pennies should no longer be made because they cost more money, wastes money, and It's easier to pay.

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.

“Find a penny, pick it up, all day long you’ll have good luck” is a well known quote we all know and love, but in the near future we may not see too many pennies lying around. Since the 1900’s, pennies have been a staple of American culture and literature, but in this modern day and age Americans don’t have time to appreciate the penny or even use it. The US government is now considering stopping penny production. Many other countries have also dropped their smallest coin, including Australia, Canada, New Zealand, Brazil, Finland, the Netherlands, Norway, Sweden, Switzerland, and Britain. These countries haven’t had many negative consequences to eliminating the penny so neither should the US if it choses to follow the crowd.