The Importance Of Abolishing The Penny

Did you know the first penney the u.S. has ever seen was created and produced in the year 1857? The penny we know of has been in the states for 161 years. In the year 2012 there was a proposal that the United States get rid of the penny, the least valuable coin in the money system. The penny has so little value, but cost too much to make. Although the U.S. loses millions of dollars a year to the production of pennies, American pennies should not be ceased minting because of the risk of economic changes,the piece of culture they each possess and their “ power in numbers”.

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,

Finally a fourth reason why the penny should be abolished is because its production cost exceeds its face value. The U.S. Mint is losing money, as it costs 1.5 cents to manufacture a one cent penny. This results in the U.S. Mint losing millions of dollars per year. For example, in 2016, the U.S. Mint lost $46 million dollars by producing pennies. This makes no sense logically. Why would you manufacture a product that you can not make a profit

The pennies production cost is worth more than the penny itself, It would cost less to just eliminate the penny completely. Pennies cost everybody money, including taxpayers. Even though production costs are slightly lower today, the penny still costs the United States over 1.8 cents to produce and costs 60.2 million in the year of 2011 (source 1). The 60.2 million dollars that's used for a coin a year can be used for better things in the world, like charities. Pennies are worth so little, but costs so much. We would be saving a lot of money by not producing pennies at all. Pennies will still be around, but no longer minted. The production cost of a penny adds up to a lot of money a year basically wasted.

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

Money is the crux of society. Without it, anarchy would break out. Bargaining would fail as people would claim the trade wasn’t fair, thievery would explode across the globe, lazy people would do nothing, and people wouldn’t have motivation to do anything but help their own family and selves. Yet, while everyone knows money is important, is ALL money important? For centuries, the penny has been part of American currency. And back in the day, it served a great purpose. Pennies could buy candies, breads, and many other things all on their own. But as time has changed, so has the value of the penny. As costs went up, the value of the penny went down. And with its lesser value, some people wonder if it’s even worth it to keep the penny around. But the answer to that little puzzle is as easily seen as a jigsaw meant for four years olds is put together. The penny must be kept.

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.

Acknowledging the oppositions doesn’t exactly strengthen but actually weakens Safire’s argument about abolishing the penny. One example is pointing out the nostalgic qualities of the penny and only stated that if we can give up barbershop shaves, then we can get rid of the penny. The refuting of that opposing view didn’t make much sense and can be seen as a bias. Another example is merchants rounding down to a lower price of goods, while some people think that getting rid of the penny will cause them to round up to the nearest dollar. He just states that they would round down to the nearest 5-cent and that it will save consumers billions of dollars in paper money over the next hundred years, and there’s really no other information about

We should get rid of the penny. It cost more to make a penny then it is actually worth, the penny is worth 1 cent and it cost the mint 2.41 cents to make just one penny according to source 1. This would also make the U.S. millions by saving 1.4 cents per penny if we get rid of it. Some people might say, “we should not get rid of it because Lincoln is on the penny and he will be forgotten”. Well I think not, because we already have tons of documents about him and there are statues of him as well. We should get rid of the penny, because most people just forget about the pennies and put them in dressers according to Jim Flaherty, the Canadian Finance Minister. We also just throw pennies into wishing wells or water fountains.

As a recognized part of modern American life, the penny is far too entrenched in our daily life to be abolished. In fact, the effort to abolish the penny would be enormous, and simply not worth the estimated benefits of such a monumental a change.

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