Pennies Should Be Eliminated Essay

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.

Finally, the United States should get rid of the penny because many other countries have dropped the penny. In source number one it says, “Countries such as Australia, New Zealand, Brazil, Finland, the Netherlands, Norway, Sweden, Switzerland, and Britain have already dropped their penny.” So this quote says why don’t we just stop making the penny when all these countries have already dropped them and they are still doing good.

The penny is practically worthless to many people in our country. In a Gallup Poll of 1,002 adults conducted from June 11 of this year displayed shocking results. Nearly 75% of those adults would stop and pick a penny that is present on the ground. About 40% of men and 35% of women would walk passed a penny that is on any type of surface. This poll also found that 58 percent of Americans stash their pennies in piggy banks, jars and drawers. Some Americans redeem their cents at banks or coin-counting machines, but 2 percent admitted they toss them into the trash. They consider the penny a nuisance to many fellow Americans. This sentiment has been growing through recent years. The penny is basically obsolete and should be removed from American currency.

Getting rid of the penny is good for the economy because it would save the government on average 60 million dollars a year. Evidence that supports this claim is, “Pennies may not be big money, even if you add them together. But we are paying a cost for the privilege of squirreling

Every day we buy things, and to purchase these items, most of us use credit cards or bills. Do we use pennies for virtually any transactions? The answer is no, we don’t. Consequently, the penny is far and away the least useful monetary value we have. Pennies are inefficient and should be cut out of the currency. The rationale behind this conclusion is simple: the price tag of minting a penny is more than one cent. Unfortunately for the penny, two other reasons prove that we require it no longer. The first reason is that not only will the removal of pennies make us more effective, it will drop prices similar to what happened in Australia and New Zealand when they abolished their “pennies”. The second is that we know that we do not need it

In Forbes magazine, Neena Moorjani said “It’s practically useless in everyday life” (Lewis). Most people today fling their pennies into the trash, they drop out of circulation, or in couch cushions where you won’t see them again. In the 1900’s there was a thing called penny candy. You could go to a local store and buy one piece, or a few pieces of your favorite candy with just one penny. Today, candy bars from a gas station can cost up to two dollars. Adding to this, vending machines cause problems with coins. The vending machines used to take all types of coins, nickels, dimes and even pennies. If you try to put a penny in a machine now it will just spit it back out or an alarm will sound. In stores when someone says “one second I think I have some pennies” is very annoying. It uses about “...40 wasted seconds per day per person.

The production of the one cent piece has long been a topic of controversy. Some argue for the penny saying that the penny has been a part of U.S. history for over 200 years; while those on the opposing side argue that eliminating the penny could save retail businesses time and therefore money by saving the time wasted counting pennies at the register. Some argue that we should phase out pennies because the value is so little that no one uses them; In fact, the face value of the penny is so little that it costs more to produce it. Because of the downsides to the continued production of the penny, we ought to phase the penny out.

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.

We should stop the penny because history is outdated and insignificant.The indian men that was on the penny was even real which meaning it was outdated and not that important. Many differnt designs before it got to Abraham lincoln.No one like the l.ady liberty of the penny because her hair was to wild and many people started complianing about

How weird is the fact that making money costs money? Not only that, but in some cases, coins cost more to make than they’re economically worth! Due to this, many believe the penny should be out of production, as should the nickel, potentially. Others believe that the coin’s historical value, with it being similar to a heirloom in terms of age and personal value, should be enough to keep it in production. However, when considering how expensive manufacturing can get and how often the penny is used, it’s obvious getting rid of the penny is the best choice.

“ A penny has little value and little buying power, especially compared to what it had a century ago” (savingadvice.com). There is no where you can go and buy something for one single penny. In the past, stores would have little candies for one penny. Nowadays since prices have raised so high over the years, vending machines and most parking meters do not even accept pennies. “Most people throw away 4 cents worth of pennies into the jar (or trash) each day” (about.com). Pennies are so worthless to us that people throw them away! People are throwing away money. If a person threw away 4 pennies a day and lived for an average of 80 year, that person would be throwing away 1,168 dollars in their lifetime. Pennies add up after a long time, but no one keeps them around for that

According to the article, “Penny Wise or 2.4 Cent Foolish?”, the dropping of the penny could mean reduced prices and a strengthened economy. If there were no penny, prices would have to be rounded. Some may argue that the more practical choice would be to raise prices to make more money. However, in today’s competitive market, many businesses would consider lowering prices to make their products more desirable. Currently, the government loses millions of dollars to the minting of pennies.

To American Citizens, Chance are, you’ve likely used a penny in your lifetime. Everywhere you look, you’ll find pennies. Between your couch cushions or on the street, pennies are everywhere. But have you ever thought, how much do pennies cost, and why do we still use them? We need to get the United States Mint to stop production of the penny and slowly take it out of circulation.

To start off, many people think the penny should be eliminated. Some say we should stop the production of the penny because it costs approximately 2.41 cents to make each penny, as of 2014. Others believe that pennies take up too much space and take too much time to count. Some have even gone as far as eliminating the nickel. It costs over 11 cents to produce each nickel. Many people feel as though pennies are not worth the trouble of carrying around and that the penny is not worth enough by itself. “”Pennies take up too much space on our dressers at home,” Jim Flaherty, the Canadian finance minister, said in a speech last month. A persuasive government brochure put it this way: “After eliminating the penny, businesses would use the rounding system to avoid using the pennies. Most people use debit and credit cards to pay for their everyday goods these days.

First, the U.S. Mint spends twice as much money than they really need to, to create the penny. To validate, the penny production is worth around decuple times more than the actual penny itself. As articulated by “Livingston”, “According to the 2014 Annual Report from the U.S. Mint, it now costs $0.017 - or 1.7 cents - to make one cent. That means whenever the Mint produces a penny and sends it out to a bank, it is actually losing money on the deal.” Second, the overall total the government spends on pennies is over millions of dollars. In particular, the U.S. Mint produces eight billion pennies in one year, and the prices of the coin add up in an overall total of millions of dollars. As stated by “Browning”, “Eight billion pennies still add up to eighty million in pennies the government spends 134 million