Are pennies worth minting? Many people believe they’re a waste of money, but some people believe that they’re still worth minting. Pennies should not be minted for many reasons such as, the penny costs more money to make then the penny has in value.Another reason is that pennies are a severe waste in time such as people often pay with pennies as a practical joke, which means hard working employees often have to spend the time to count those pennies. The final reason is because the penny is losing the government money. All in all the penny should not be printed anymore because they cost more to make then they have value, then they are a waste of time as in counting the, and finally reason is that pennies are losing the government money. A reason pennies should not be minted is because the penny costs more to make then it has total value. As stated in the text,” Because the penny costs more than a cent to produce, the Treasury loses more than $100 …show more content…
As stated in the text,”In truth, it is more than a coin—it is a piece of American culture.” Even though the penny has some culture, culture is nothing compared to losing money the losing money part is way more important than just being part of American culture. This shows how people can hold onto the smallest things for the dumbest reasons. Another thing stated in the text was,”Still, for many people, the penny's sentimental value remains the same.” Even though the penny may have some sentimental value the government is losing a ton of money minting new pennies because they cost more than they have in value. This shows that pennies may have value to some people but not enough to compensate for the money lost by the government for minting a penny. All in all some people believe that pennies are worth minting, but they are just of waste of
Mint 1.63 cents for every penny it produces- almost 7 billion of them in 2014”(Gore). The price of penny production quickly adds up, as those seven billion pennies cost the U.S. Mint over 114 million dollars. This price differencing has led to people melt down the pennies and resell the metal as a raw material for profit. With the elimination of the penny, the U.S. Mint would stop losing profit on production of the penny, and would stop the government from losing money in a time where the United States is in trillions of dollars in debt.
The Currency Act of 1764 was a British Law, passed by the Parliament of Great Britain on September 1, 1764, that was designed to control the colonial currency system. This act prohibited the issue of any new “Bills of Credit” and the reissue of existing currency by the American colonists in the thirteen colonies. The reason the Britain Parliament passes this act was because they wanted to control the printing and use of colonial paper money. Also, it was said that British merchants in England wanted to be paid in British currency and not colony currency. The colonists did not like this act and therefore colonial merchants refused to buy goods from Great Britain.
The author used to hide some pennies to let others dig them out when she was young. This childish move shows how many people recently unable to see another
"Abolish the penny? " This is a question that has frolicked around the economic scene for decades. Advocates of abolishing the penny call upon claims supported by faulty evidence, for instance, "Two thirds of [pennies] immediately drop out of circulation" (Source C). This claim is fatally misleading as studies have been conducted to show that "the annual rate pennies dissappear from circulation is surprisingly similar to all other forms of coinage -- around 5.6 percent" (Source C). So why should we, as Americans, abolish something as symbolic to our national heritage as the penny, without proper reasoning?
The penny is perhaps one of the most historical, and mass produced items in our country. To remove these precious objects from our economy would be illogical and unbeneficial. Although many people support the idea of abolishing the penny, it should truly be kept in our economic system due to it’s power in numbers, interesting history, and America’s negative future if it is no longer minted. Together, pennies can be very powerful in certain situations. “Washington Middle School hosted it’s annual
The complete waste of time and money spent producing these pennies just to be forgotten in the couch cushions is astounding. If every penny is 1.8 cents to produce than the government is giving away 800 million USD every single year. The same article says, “...10 million new useless items punched out by government workers who could be more usefully employed tracking counterfeiters.” In other words, the government isn’t only wasting money on penny production but, also a working staff. U.S. currency could be more protected if it wasn’t for the pesky penny.
The density of the penny was 4.68 g/cm3 before the experiment and 4.43 g/cm3 at the end of the experiment. The density of gold, though, is 19.3 g/cm3. Since the densities of the penny and the gold are different, the penny clearly did not change into another element. The gold color of the penny was a result of the flame that it was held above melting the zinc that it was coated in with the original bronze colored coating of the penny, creating an alloy with a shiny yellow color. Since neither of the pennies, silver colored or gold, changed densities throughout the experiment and each retained their own properties; the properties of copper; no new elements were
So why do we still have it? The penny is outdated and unnecessary. The penny costs an irrational amount of money compared to what it's worth. The penny, a one cent coin, costs 2.41 cents to make, which is nearly 1.5 times what it's worth (source 1). That means that annually, the United States loses 60 million dollars in pennies every year!
“ The U.S. is among the last of the industrialized nations to abolish the peskiest little bits of coinage” (Source C). More and more counties will soon join in on the laughter as they dismantle their low value coins. It would be a different story if we used the pennies. Only about one-third of the pennies are in circulation, the other two-thirds of them are hiding in our chair cushions (Source C). Not only is the government losing money from the missing two-thirds, but it is also wasting money on workers.
Argumentative Text Essay In the book Nickel and Dimed, written by Barbara Ehrenreich, the author argues how challenging it is to live in a life of poverty. To prove to herself as well as others that this statement is accurate, she makes the decision to experience this lifestyle firsthand by taking low-wage jobs and recording the results. Ehrenreich took on jobs including a maid service, waitressing, and assisting the nursing home to make enough money for a place to sleep and food to eat. The work’s central argument is the fact that minimum and low wage workers face a myriad of difficulties in getting by in America; they receive very low pay, harsh treatments from their employers, and the inability to have an actual life.
That is why I am supporting the retirement of the pennies. With me supporting the retirement of the penny I have some evidence on why the penny should be retired. One piece I have is in the article it states that it costs 11 million dollars to make pennies in other countries. That it is a lot of money being used even though the penny doesn’t really get used, it just gets pushed to the side and never gets used. They could be doing more with the 11 million dollars.
Later on the colonists started to protest against paying taxes on paper products. The tax collectors were threatened and were almost forced to quit their jobs. The colonists that protested burned the stamps on the streets to show their aggression toward the tax collectors. Overall the colonists were not very happy with this “new
First, pennies should be eliminated because of how much it cost make them. For example, “taxpayers lost 60.2 million dollars on the production and distribution of the coin. Many people are saying that the number of cost for the penny could increase in the upcoming years. Also,”the economy has changed so had the value of the coin.” But the penny is worth too little for for today's economy.
The penny should be preserved because if they get rid of the penny it will cause a lot of income issues, also more people would go homeless due to paying more. If the penny is not preserved then more people will pay more because store will round to the nearest five cents. Also the penny is a part of U.S. history. Sources 2 and 4 state that the penny should be preserved. For example in source 2, the author states that “The one-cent piece, commonly referred to as the “penny,” has been a part of United States history for over two hundred years.”
The penny press helped bring in news for everyone. Events throughout the day would be put into the paper. Maybe it was an accident, or a major event that had happened near them. The penny presses also helped bring about the idea of having journalist all over the nation, for example in Washington D.C.