Should Penny Be Retired Pros And Cons Analysis

"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

In source D, Weller reiterates that the penny holds an important factor in maintaining the pricing system. Also, mentioned in source A, the elimination of pennies causes the prices of products to round up or down to the nearest nickel. Store owners would use the elimination as an opportunity to gain more profit by rounding prices up. The government also has an advantage over the removal because taxes would increase as a result of nickels becoming the least valued coin. However, the nickel becoming the least value coin also has a downside as it costs around ten cents to make a nickel whereas it costs about two cents to produce a penny. Also, by eliminating the penny and allowed the nickel to become the least valued coin, gas prices would go up and the price of gas is already extremely high. Americans would have more stress put onto them by worrying about the rising prices of basic necessities. Both source A and source D unveils that although people may perceive the penny as valueless, it keeps the American pricing system

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

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.

Some say that getting rid of the penny would bring its rich, and important place in American history to a screeching halt. Even though people argue that getting rid of the penny would cost Americans millions of dollars a year because of tax. In all honesty, keeping the penny would cost more than the rounding tax ever will. Dr. Whaple’s study says that the amount of money wasted making pennies could add up to $700,000,000 a year nationwide (source #2).

The debate over whether or not the United States should continue to create and use the penny may not seem very important, but it actually is due to cost and usage. Although the penny has a long history in the United States and can be considered an icon, in reality it is just not feasible anymore to continue to make the penny.

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.

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.

United states produces 13 billion pennies each year. The Penny coin in America played a role to our economy/without people noticing too much. People most likely don’t recognize it due to inflation of prices. To public eyes the penny has always been heated debate topic. Which leads into my paper here. Should the penny be eliminated or kept? The penny should not be eliminated from our “coins system” because the prices would be rounded(making prices mostly going up), the penny has need to stay for economy. And the “public”(average american citizen) view matters and need to be heard. Even the penny kept costing United States to make then it is worth, but the benefits of the penny beats out the cost.

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.

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.

In recent times the U.S. penny has become a heated topic for debate. The issue people debate is whether the U.S. mint should discontinue the penny. Most Americans seem to have a definite opinion about this topic. Both sides of the argument have increasing support and a numerous amount of legitimate reasons to support their argument. In my opinion pennies are a nuisance and do not really offer enough value, therefore the U.S. Mint should discontinue the production of the penny.

In the first place, the penny should be kept as American currency because of the great impact it holds. For instance in the article, The Ever-Changing Penny, the author states, “The history of a penny reveals… a piece of American culture. The one-cent piece has influenced our language… such as ‘a penny for your thoughts’”(Story 5). Provided with this evidence, the author is saying that the penny is very important to Americans, as it created part of our language. Many

What would we do with the 250 billion pennies in circulation? That means that 2 to 2.5 billion dollars would be wasted, and worthless. 2.5 billion dollars could be used to help several great causes. The average penny costs 1.67 cents to make so that means that approximately 417.5 billion dollars will be wasted if we decide to abolish the penny (7 Penny Facts). That would make a substantial difference in the lives of many people. Today to try to keep costs down the penny is made from 97.5% zinc and a little copper just for the appearance (Lewis). Many people that are against the penny say that we should get rid of the penny because, “it costs more money to be produced than what the penny is actually worth.” The truth really would be that it wouldn’t save the United States any money. An economic problem would actually arise (7 Penny Facts). What happens if you go to the store and spend 5.01? You would end up getting charged 5.05 and the businesses would take the extra 4 cents. This small amount would add up very quickly and everything would cost consumers more money each time you go to get gas, groceries, clothes, etc. More money would also be put towards producing more nickels, dimes, quarters, or other paper bills because they would get used more often. Also, all of the cash registers around the entire country would need to be re-programmed, due to not having the penny values. This would cost billions of dollars. So, abolishing the penny would not save money but actually lead to a lot of other costs all related to abolishing

The Penny is essentially a vital part of our money system. There has been many speculation about whether or not the United States should abolish the penny from being minted any longer. Although the penny has been a part of the American culture since 1787, it has such a small value, it will always be a part of American history. So as the years go on we should realize that the penny is everything to the United States. The penny should not be eliminated from the money system due to the fact that it is a part of the American culture and has earned its respect over the years.