ipl-logo

Should Pennies Be Eliminated

514 Words3 Pages

Pennies have been a huge part of our history, and has also had a big impact on us. The penny represents strong will, positivity and pure energy. Abraham Lincoln was the first historical figure to the US so that is why his face is on the penny. But the penny is destroying our economy. For many years people have been fighting to eliminate pennies for many reasons. One of the most popular reasons to eliminate pennies is that pennies cost more to produce than the actual worth of the penny. “The united States government lost $60.2 million on production and distribution of pennies in 2011,” (Sommer) wrote, source #1. (Sommer) also wrote that Each zinc and copper coin cost 2.41 cents to produce and distribute”. Meanwhile a penny is only worth 1 cent. “The penny is also inflating our economy and should be eliminated,” stated (Maria) source #4. …show more content…

”Australia, New Zealand, Brazil, Finland, The Netherlands, Norway, Sweden, Switzerland and Britain have already dropped their lowest denominated coins,” stated (Sommer) source #1. Also Sommer wrote for over 30 years foreign military bases have not been using pennies, but instead the shops, and restaurants round to the nearest five cents. So that 's is one of the reasons, penny should be eliminated. Undoubtedly a good reason to get rid of pennies is that they take up way too much space. They take up space on our counter tops and in our drawers. Pennies are too heavy when carried in a bunch and not effective to ship out. Because of this, military bases have been rounding to the nearest cents instead of pennies because it is more efficient. So that is another reason that pennies should be

Show More
Related

  • Essay On Are Pennies Worth Minting

    783 Words  | 4 Pages

    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

    Read More

  • Penny Pros And Cons

    1653 Words  | 7 Pages

    The Department of Defense recognized the uselessness of the penny so they abolished the use of pennies at overseas military bases more than 30 years ago. Now, instead of using the penny these bases use the round up and round down method. The reason these bases abolished the penny is because the penny is “too heavy and not cost-effective to ship.” (4) This is also true in the United States as well. The penny has become completely obsolete and is no longer cost-effective to ship across the country.

    Read More

  • The Pros And Cons Of Ulysses S. Grant

    422 Words  | 2 Pages

    Ulysses S. Grant is the face you see when you receive a fifty dollar bill. But when you look at the face, what do you think? Do you think of greatness? Do you feel secure? United States currency is supposed to represent what we stand for as a nation.

    Read More

  • Andrew Jackson: One Of America's Greatest President?

    865 Words  | 4 Pages

    In the course of American history, many presidents have come and gone. Even some of our Founding Fathers, such as George Washington, became president. In Washington 's case, he was the first president and the one to pave the way for many U.S. presidents to come. They are remembered in text-books, journals, bibliographies, magazines, websites, and much more. Some of their faces are even plastered on our money.

    Read More

  • Abolish The Penny Essay

    841 Words  | 4 Pages

    This scandalous coinage, also known as the penny, is a lousy excuse for a currency and should be abandoned. The penny costs the American people precious time and money as they attempt to scour through their purse or wallet just for a 1 cent coin, which is having devastating effects on the economy. The obvious solution to this ordeal is removing the penny and rounding all prices to the nearest nickel. On the other side of the argument, people view this as an opportunity for businesses to charge extra for a product or service that you originally would of although, there is simply no hard defining evidence that this would even occur. With everything considered, the penny is a nuisance to society as a whole, we need to abolish it before it creates

    Read More

  • Alexander Hamilton Essay

    1528 Words  | 7 Pages

    Did you know that the only non-presidents on US paper currency are Benjamin Franklin and Alexander Hamilton? However, Alexander Hamilton has more to do with American political history than you may realize. He changed the way the American government works and how it continues to work to this day. Hamilton lived an influential life, he had a rough childhood but was able to overcome it and rise to great things. Alexander Hamilton is an important historical figure.

    Read More

  • Penny Lab Report

    463 Words  | 2 Pages

    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

    Read More

  • Argumentative Essay: Keep The Penny

    668 Words  | 3 Pages

    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)

    Read More

  • Penny Cost 2x Research Paper

    551 Words  | 3 Pages

    For example some countries don 't even use them, one of those countries is canada they stopped minting them in 2013. They didn 't actually ban them they just stopped minting them but made them legal to use(Source 1). In conclusion the penny cost more to produce than it is worth, so it 's not worth making and most countries don 't even mint them anymore. Rounding to the nearest 5 cents is what we need to do. The U.S military has been

    Read More

  • Argumentative Essay On The Penny

    701 Words  | 3 Pages

    “ 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.

    Read More

  • Fiat Money Essay

    1082 Words  | 5 Pages

    The Fiat Money The Fiat money are always the biggest issues to the Muslims scholars since 12th century due to the questionable intrinsic value. In the past, such issues have not being arise because the practice of such monetary system were not exists up until the 19th century, where the gold and silver were started to be replace by Fiat money currencies (paper money). In the early 9th to 17th centuries, Muslim scholars such as Al-Ghazzali, Ibn Taimiyyah and Ibn Khaldun had discussed the media for exchange of gold and silver with conventional value, to which the counting of the outdated weighing became as a legally valid method and money become numérarie; that is a basic standard by which values are measured as gold in monetary system). However,

    Read More

  • Why The Penny Should Be Retired

    489 Words  | 2 Pages

    I support the penny being retired. The article “Should the Penny Retired” written by Toronto(AP) has many valid points on why the penny should be retired. It is such a nuisance to have pennies these days. No one will pick a penny if they see one on the floor or on the street. People nowadays don 't get excited if they see a penny.

    Read More

  • Pennies Should Be Eliminated Essay

    521 Words  | 3 Pages

    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.

    Read More

  • Commercial Revolution: Commerce In The Middle Ages

    1282 Words  | 6 Pages

    These are needed today because there are so many different currencies around the world today, like the US Dollar, the Euro, English Pounds, etc. Currency was needed in Europe by the 12th Century because of the vast amount of trade that occurred. According to the article by Roberto Naranjo, “fine French cloth, oriental silk, spices, furs, cotton goods, wool for the growing local industry, salt for universal consumption” (Naranjo). These were popular goods traded between states during the Medieval Ages, but they needed something to pay for those besides a trade between goods, so a national currency was established. This is similar to the modern times because trade occurs everyday, like clothes, foods, and materials for building/crafting, and people use a currency established by their nation to pay for items.

    Read More

  • Thoreau On Money And Money

    189 Words  | 1 Pages

    I agree with David Thoreau. While some could argue that time is bereft of value, I believe that money has nothing to do with the price. Money is always something you regain without losing anything more than time. More and more of it is being made every day. Should paper money fall, some other sort of currency shall take its place.

    Read More

More about Should Pennies Be Eliminated

Open Document