Penny Stock Definition

“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 penny cost more to make then it,s actually worth. According to Maria Story “In 2011, it cost cost the U.S. Mint more than 2.4 cents to produce one penny.” Spending that money on a penny is not worth it.

However, others may say that pennies are something to keep. According to Brian Domitrovic from www.forbes.com, making a penny is cheaper than making all other coins in the United States. Many people count on it because it’s actually rare to find copper. Brian also states that the penny also helps find change. Still, instead of trying to find copper and waste money the nickel should be the new penny since prices would be too low if they go up just one cent at a time.

Pennies cost more than they are worth at 1.4 cents per penny and 2 cents to distribute, meaning if you were to melt down the material of a penny and sell it; you would profit, this also means when the government produces pennies we are actually losing money, last year the penny robbed taxpayers of $115 million dollars to subsidizing penny production. You might ask why we don't just make

Although this may be true, according to The Ever-Changing Penny, the text states, “In 2011, it cost… 2.4 cents to produce one penny… production costs are slightly lower today… just over 1.8 cents to produce”(Story 5). As a result under this piece of evidence, the price of the penny is lowering every few years. The materials used to construct the penny could be changed to more common and cheap metals. An equally important piece of information comes from the article Penny Wise, or 2.4 Cents Foolish?, where Sommer states, “The mint defer to Congress, and Congress hasn’t told it to abolish the penny. Lawmakers have directed the mint to study ways to make small coins more cheaply”(Sommer 3). Provided the information, the mint has tried to reach out the Congress in hopes of getting an answer, yet the Congress never made a decision. In hope that the U.S. Mint does believe that they can create more efficient pennies with cheaper materials, than the U.S. will keep the one-cent

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

Unfortunately, some people believe that prices will rise in the event that the penny is discontinued, notwithstanding evidence to the contrary. Their reasoning being that businesses will have no incentive to drop prices, prices will not drop. In the rather unlikely event that this does happen, removing pennies will still be the better choice. According to “Penny Anti”, “On average, the customer will lose two and a half cents in each transaction. If someone engages in two such transactions per day, over a year they would lose $18.25 compared with the person given their pennies” (Para. 12). The person given their pennies would lose an estimated average of $50 in time due to pennies. Furthermore, the government loses approximately $100 million, making the

Pennies are important has been around for centuries. There are a lot of pennies in the world, so you can’t just eliminate them. Executive director Weller says that “The fact is the penny remains popular with the public and important to our pricing system,” which is true (Source D). Pennies are important when making a purchase. When making a transaction, your total might come out to be $5.33. Instead of using the system that some countries use by

The purpose of currency is to be exchanged for goods and/or services. However if the value of the coin is too low, no one is going to bother to use it because it cannot buy anything. According to source #2, the United States Department of Defense deemed the penny not cost effective to ship because it weighed so much and was worth so little. Foreign military bases use a rounding system that rounds to the nearest nickel. Source #2 states, “The rounding system seems to work well for the military, and some experts such as Harvard professor N. Gregory Mankiw want to do the same in the entire United States.”.

Is a penny saved really a penny earned? Well not much longer it isn't, people think that we should discontinue the penny from our current day system. In my eyes i see the penny as a waste of time and a waste of money.There has been talk lately about discontinuing the minting of the us penny,and after reading all four articles it's hard to say that we should keep the penny: “Penny Wise, or 2.4 Cents Foolish?” (Source 1), “Is the Penny Worth It?” (Source 2), “Give a penny-Save the day!” (Source 3) “The Ever-Changing penny” (Souce 4). In my opinion we should discontinue the U.S. penny because it is costing us too much to produce pennies and the cost to produce it is actually more than it's worth, many countries have already dropped the pennies and it's going just fine for them, there is already a plan for when we are going to discontinue the pennies, so we are prepared.

The product of the penny cost more to produce than its own worth. “The cost of making the pennies (1.26 cents each) is higher than face value…” (about.com). The United States Mint company is actually losing money when sending pennies out to different companies and places. The government is losing around 53 million dollars every year by producing the penny, and that price is only raising. Since many people don’t use the pennies they have and they either keep them or throw they away, the

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.

Pennies just cost too much, and it's our tax money making it. Many countries, such as Australia, Canada, New Zealand, Brazil, Finland, the Netherlands, Norway, Sweden, Switzerland and Britain, have already dropped their lowest-denominated coin (Sommer). The penny is just a waste of space, time, and money. Each zinc and copper coin cost 2.41 cents to produce and distribute (Sommer). In 2010, the U.S. lost $27.4 million dollars on making the penny (Sommer). It’s just too much money to ignore any longer. In addition to all that, the pennies don’t make any money, they stay one cent forever. So that we can’t even get the money we spent back.

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.

The problem is that as useless and annoying as the penny is, people like having it around. Imagine you are sitting outside with your friend. You are laughing and having a good time when you look down and see a mosquito on your arm. Your friend goes to smack it but you stop them and say “no, I can’t imagine a life without them.” Or “no this is unpatriotic”. The situation can go either way but they all end with the mosquito staying there. This is essentially what happens with the penny. The only string that is keeping the penny in production is the 51% of people who want the penny to stay. Many people think that price will rise with the penny gone. But it would be balanced, three cents up or two cents down. I also think that prices would be easier with the rounding already done.