Informative Essay On Silver Dollars

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

The United States either seems to be unaware or choose to be unaware of every other nation not only eliminating pennies, but some also eliminating coins, even their neighbor Canada. It's true our past have taught us a lot and brought us here. We can't turn our backs on our past as a nation because we have to reflect back in order to move on, successfully. However, in the case of this nation, our past is in our way of moving on, the sentimental attachment to the penny will lead us astray if we hold on to it. Other countries have eliminated pennies because it's both a waste of time and money, so I suggest we do the same. Instead of eliminating the penny to make a greater use of the

“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 source number 1 it says, “ We often throw them away in water fountains, throw them in jars, or refuse them as change.” This quote means why make a coin if all we do is throw them in jars, or refuse them as change, and just throw them in water fountains. Also, “We have penny drives to get rid of them sense people don’t want to get rid of quarters and dimes.” This quote says why make something if all we are doing with it is using them as loose change or just giving them away.

There are many more reasons as to why the penny should be kept, such as the fact that it is a reminder of Lincoln’s history in the U.S., but why expand on all of those when it is already obvious the penny should be kept in circulation. Yes, perhaps the penny can be seen as worthless and a waste of currency, but it holds a lot of worth when you add up that it is liked by the public, that it aids in providing jobs, and added with other pennies, it really can be worth a lot. Besides, how could America give up their lucky penny? It’s lucky for a

To begin, nickels cost more than pennies. An article on The Spruce says this: “[The] Mint can make 5 pennies and still lose less money than making 1 nickel” (Headley). This quoted information is basically saying that it would cost less for five pennies to be made compared to just one nickel. The cost difference is actually about 1.4 cents, which doesn’t seem like much, but it may become a larger problem when the money amount adds up in the end. Furthermore, if the penny were abolished and the nation would be stuck using nickels, then the Mint would lose even more money. A popular argument for the abolishment of the penny is that it wastes the money for the Mint. This is partly true, but if the pennies were entirely eliminated, more nickels would be in demand, which would cost the Mint more. Twenty nickels, which equals a dollar, costs about $1.54 to make, compared to a dollar amount of pennies, which costs $1.26 to make. With all the pennies abolished, the number of nickels made would have to double, which would subtract more money from the Mint, leaving them with even money savings less than before

The website www.moneycrashers.com says that the penny used to have actual value when America was young because things were cheaper. Inflation caused the half-penny, a coin the US stopped making in 1857, to be worth whole pennies today. To add on, pennies are hard to spend because they have such little value. Also, even vending machines and Parking meters don’t accept them anymore.

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.

Money is crucial in many ways or everyday events like for buying food, paying rent, etc. Money has its own value but not all currency is used. Money has its own value but not all currency is used. The penny has the least amount of currency and is found on the sidewalk, sofa, in between car seats because nobody benefits form the penny. It doesn't have enough value to be kept around so lets just end the penny ones and for all.

Though some parties may claim that the penny holds value to the United States, majority of the arguments presented are invalid or out of date. Examples such as the man who has saved “90 pennies a day” (Source B) are an extreme case that cannot be used to argue for continuation of the penny. In the average lifespan of an American denizen, it is improbable that one will have the time to collect this many pennies. In addition, on order for this man to reach his grand total of $13,084.59 took about forty years, making this argument illogical as the process is time consuming and one can save even more by simply collecting larger denomination coins. In addition, arguments made those countries such as the “EU … and Canada” that have kept their “penny”

The three reasons to keep the penny in circulation has to do with the culture that is behind the penny, the added cost to the consumer and the history that is shrouded in the Lincoln penny. In Source 1, it states “On average, the customer will lose two and a half cents in each transaction.” This means that if the penny is taken out of circulation consumer will lose 2.5 cents a transactions. On Source 3 it also states “In truth, it is more than a coin—it is a piece of American culture.” This shows that the coin has evolved to be more than a coin, it has become a part of American Heritage. Also in Source 2 it states the “first penny in the series was created to commemorate the 100th anniversary of Abraham Lincoln's birth. His face has remained

How many pennies do you have just lying around the house, not being used? I can answer that, TOO MANY! The use of pennies should be discontinued in the United States. Pennies are more trouble than they are worth, literally. They are costing the United States more money than they are even worth.

Click, Click, Click… the penny falls helplessly onto the floor from the customer's wallet as they pull out a crisp five dollar bill. There the penny will stay unless it is swept up into a long forgotten corner or somewhere on the street. The Times John Tierney noted five years ago, that “two-thirds of pennies” share a similar fate. (Source C) For every penny the government manufactures we lose a half of a cent, though seemingly miniscule, when multiplied by the ten million pennies minted on a daily basis, that's an even five million dollars going

According to the text “The Cost of the Penny” to the editor it says “ One-cent coins constitute a complete and utter waste of taxpayers' dollars—not to mention a waste of our time and energy. People think that we should keep pennies because if we did have pennies people would have to round everything up to the nearest nickel, that is why some people think we should keep pennies. Although people have any reason why they would want to keep pennies, pennies are costing us $100 million dollars year to make them. This means that there are some benefits for having pennies. But some people believe that we should get rid of pennies.

Numismatic comes from the Latin word, numisma, which means “coin.” These old coins are ones that hold more value than the material they are made of—such as gold coins—and collectors have the most interest in them. This type of coin doesn’t have to be rare; typically,