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Argumentative Essay: The Value Of A Penny

722 Words3 Pages

For years the penny has been more than the one cent coin. Everyone recognizes the copper coin, but not how it used to be. Today many are wondering if the penny should be kept. With currency more common and the value of a cent reformed, it makes sense to get retire the penny. The one piece coin has already been eliminated from several countries including: Canada, Brazil and Finland. However they received no ill consequences for doing so. Many are wondering if it is time for the United States to eliminate the penny. It costs more to make a penny than it is worth. Although they changed from being pure copper to copper coated zinc and is smaller, they cost two cents to make each. With billions being made each year, it leeches money from our economy. Although so many exist only half are currently in circulation. "Two percent of Americans admitted to regularly throwing pennies in the garbage, which means the U.S. Mint is spending millions to make garbage"(Arnold). When the penny was first established, it was worth more than it is today. With one cent you could buy a variety of sweets. Today a penny can’t buy anything on its own. This change is because of the increase of currency production. The penny is incredibly common, which makes it nearly invaluable in society. There is a restaurant in Washington, D.C. …show more content…

We can instead eradicate the nickel which costs 8 cents to make a piece. If this path is chosen, the penny would become the new five cent piece. This would save more money than eliminating the penny would. Another solution is to change the dollar bill into a coin. “Public acceptance of getting rid of the penny is higher than it is for the dollar, but savings is higher for the dollar than it is for the penny” (Howard). The U.S. mint is already releasing dollar coins for collectors’ purposes. It would only take a small amount of work to increase production of the golden coins and decrease that of the

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