Pros And Cons Of Pennies

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.

Even though the penny might not seem worth much but per taxpayer it adds up to sixty million dollars a year(Sommer). To produce a penny it will cost a lot of money and why should we wanna waste money on something that is not worth for what it is. Other than the pennies costing to much, other countries have released the penny from their countries. Many countries have stopped having the pennies without any major disasters.

Pennies, for a majority of people, are just little worthless pieces of mass that are left basins collecting dust, being thrown into water fountains for luck, and at times are refused at supermarkets because of how little they are worth. Along with what the average American does with their pennies, the smallest United States currency is costing us more than seven million dollars a year, in the retail business alone. The Department of Defence doesn’t think that pennies are even worth it. As stated by Chris Ward in paragraph one of Source #2, “Pennies are too heavy and are not cost-effective to ship.” As well as, according to Source #2, “The U.S. Congress is considering eliminating the penny from the United States currency system.”

"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“The time has come to abolish the outdated, almost worthless, bothersome, and wasteful penny,” says William Safire. The coin today is not worth what it was before, and very few items can be purchased with the penny. Also, the cost to produce and ship the penny through the country cost more than it is worth. Reason one as to why the penny should be eliminated because in today 's world nothing can be purchased with a penny.

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

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 world we live in today is filled with topics of controversy and the penny is just one of many. Some argue that the penny is useless and more trouble than it’s actually worth so we should abolish it. While it’s true that the penny can be a pain, it’s not true that the penny is useless. The penny helps Tennessee capitalize from zinc , was voted to stay in circulation by the majority of people, and commemorates the great Honest Abe. So those who argue that the world would be better without the low denomination coin just don’t know it’s

“ 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.

Some say we should keep the penny since lots of schools have penny drives and those coins go to charity, and if we stop making the penny, these won't be as successful. These people forget that 60 million tax dollars are wasted on this coin, and that if they care so much about charity, they can donate the money they save in taxes to the charity of their choosing. People are also concerned that since there won't be any penny, prices will have to round to the nearest five cents. If all the retailers decided to round up, consumers could lose up to 600 million dollars a year. (Source 2)

Don’t you hate when your taxes go to making useless pennies or when they take up space in a mess. Even though people think pennies are helpful they are not because they cost 2.41 to make just one. For years the Unites States have been discussing if we should get rid of the penny. Pennies shouldn’t be made in the United States. Source 1 states, other countries have got rid of the penny and were successful.

This has led to growth in the overall economy. After the Revolutionary War in 1775, the United States Government began issuing continentals, the first paper money. However, as the war dragged on, inflation became a major issue and this led to immense debt. By 1780, continentals only retained 1/80th of their original value, making them nearly worthless (The Early Paper Money of America). Evidently, the economies of the American colonies needed to be more federalized.

The states, back then, had the choice to choose paper money, and most of them did because they didn’t really want to pay taxes with their gold and silver. With this change in currency, the value fell and hurt the economic “reputation”. If the federal government hadn’t given the state governments the right to choose paper money they would have been much better off in the long run. Overall, in his article The Devil in Devolution, Donahue’s main point was the states were being given too much power and weren’t necessarily able to handle all the responsibility properly that comes with power like the federal government would have been able

Toward the end of 1861 using specie payments were not allowed, which meant that paying in gold or silver was no longer acceptable. That left people having to pay only in paper currency. To add to the matter, the Government issued the Legal Tender Act after payment in gold or coins was banned. This caused banknotes to count for most of the currency. The National Bank Act brought financial stability to the nation, but failed to solve the nation’s financial issues.

The purpose of this lab was to change pennies from copper to silver to gold, like alchemists have attempted to do in history. Through the data and observations gathered throughout this experiment, it can be concluded that the pennies were not changed into a different element. For example, the density of the penny from 2005; which was the penny that was experimented on to see whether or not it could turn into silver; was 4.62 g/cm3 before the experiment and 4.89 g/cm3 by the end of the experiment. If this copper penny really would have turned into silver, then the density of the penny would be 10.49 g/cm3; which is the density of silver; by the end of the experiment. The penny may have turned silver in color, but this was only because it was plated in the zinc that was added to the beaker of water in the experiment.