Pennies Research Paper

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 penny debate has been going on for many years. Many people want to get rid of the penny, but others want to keep the penny. We should keep the penny. The penny is a benefit in our society.

"The Penny Debate " by Brad Andrew is an article written to inform Americans about an ongoing conflict. Both sides are supported with good reasons; However, I think It would be beneficial to keep the penny. Based on the article, which implies that fellow Americas would lose much more than we're gaining. Things such as; Getting rid of the penny, Charities ran on coins will lose profits, putting U.S. Mint further in debt, and prices would rise. Many may think that eliminating the penny will be a plus, but aren't looking at both pros and cons in-depth for future references. Rather than getting rid of the penny altogether we could use a cheaper metal to produce

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,

“Penny candy” and similar selling strategies or products do not exist anymore. Not to mention what used to be worth one cent forty-five years ago costs ten cents today. Over time the value of the penny has depreciated with inflation rendering them useless. Furthermore, since the penny cannot function on its own in a purchase the production of the penny is pointless.

The continuation of minting the penny is costing the U.S more than it should, additionally many other countries have already given up their lowest cent. Production cost is a huge deal and is costing the government and taxpayers money. Many countries, including the military dropped the penny. So why shouldn't we?

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

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.

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

Many penny supporters think there is not an inflation with the economy. The cent doesn't buy anything in today's market. It is merely a token used to make odd change during cash purchases. The customer may have to use the, "Leave a penny, take a penny" bowl next to the cash register for correcting the balance. The penny can be put back into the bowl if the customer doesn't accept the return of pennies. It is neater than throwing them on the ground

According the article “Give a Penny-Save the Day” written by Ted Waterhouse, it cost more than 2.4 cents to create one penny. That is double the amount the penny is worth. The US mint which creates our money is investigating how to make the penny more cost effective, but in reality we could spend that money plus the money we use creating the penny on other, more important things. Jeff Sommer, author of “Penny Wise, or

After that, there's the fact that pennies are quite useless. Most of the time they only get their use if you buy an item that ends in .99 or .98, if you got rid of the penny most prices would be in denominations of .05, so it’s easier to add, and in turn less confusing, the downside is that it costs a cent more, but it doesn’t add up to much. Another problem is that they take up too much space, since they are

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.