Growing up we have all heard that sound of useless coins jingling in a pocket. The majority of the time the change in the pocket is pennies, because nobody wants to use them. The pennies will either get stuck in the washing machine, or fall onto the grounds of the Earth, and no one will ever use them. Why? Because they are useless. Three reasons why they are useless is because, it's more convenient to use paper money, now and days there is nothing you can buy with a few pennies, and last they cost more than they are worth. To start off, if you were put in the situation where you bought a few items from the grocery store and your total came out to be $11.16 cents. Would it be easier to hand the cashier a ten dollar bill and a one dollar bill. …show more content…
It states in Source 3: “Abolish the Penny” by William Safire, “They cost more in employee-hours—to wait for buyers to fish them out, then to count, pack up and take them to the bank —than it would cost to toss them out.” However, with every argument there is another side, meaning there is a group of people that believe we should keep the penny. “Pennies play an important part in our culture and our history. Abraham Lincoln has adorned the coin for 95 years. Getting rid of the coin would be getting rid of an item that pays homage to one of the greatest former leader of this country.” Stated in Source 4 “The penny should stay” by Grace Harter. If the penny was so popular like source 4 states, why does it state otherwise in source 3 “Abolish the Penny” by William Safire, “Two-thirds of them immediately drop out of circulation, into piggy banks or—as The Times’s John Tierney noted five years ago—behind chair cushions or at the back of sock drawers next to your old tin-foil ball.Quarters and dimes circulated; pennies disappear because they are literally more trouble than they are worth.” summarizing that all up, the majority of the time people just toss pennies to the side, they are useless and should be abolished. In Conclusion, pennies have been apart of our currency since the very beginning. But if you think about it, how many times have you actually used a penny or two. It is strongly agreed that pennies should be abolished. Reasons being, it's more convenient to use paper money, now and days there is nothing you can buy with a few pennies, and last they cost more than they are worth. Should we go through all this trouble if there not even worth their own
Next, we determined the mass of the penny by placing it on a balance. The mass of the penny was 2.47 grams. Afterwards, we placed the penny in a beaker filled with 20 mL of 6 M HCl. In the end we put the beaker in the fume hood and allowed it to sit overnight. During day two of the penny lab, we removed the penny skin from the beaker using tweezers.
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
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.
Exchanges like these are the basis of trade. For centuries, most people got what they want by exchanging goods and services. Money Even if they buy and sell for money, it’s not the money that people want but what they can buy with it. Money is a medium of trade.
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
”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.
According to William Safire, in 1950 a penny would buy what a dime would buy today. Millions of pennies are produced every day and sent out all over the country. Several of these coins are removed from circulation from people placing them into piggy banks or losing them behind couch cushions. The penny is more trouble than
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
But on the other side, retailers could be aware of this and bring all their prices down to the lower round and sell them cheaper, which benefits the consumers. Supporters of the penny say we should keep the one cent coin but simply make it cheaper. (Source 2) But if we cut out the penny entirely, we can save even more. A near useless coin can be eliminated and we won't need to spend nears as much money making
Paper money was in favor and became a major part of the economy, and almost 75 percent of the currency used was paper money. A great thing for our country was established in 1686, the first American Land Bank began in Massachusetts. The great thing about this bank was that it accepted deposits unlike the other banks established. They were not considered to be “real banks”, so instead of accepting deposits, they created something called “Bills on Loan”, which was used by people who borrowed money. The downside was that the government would allow you to use a certain amount of these “Bills on Loan” before reaching a limit.
“ 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.
The penny is the Unites States’ lowest denomination coin, and there are some people who believe it should be abolished. On the other hand, there are people who advocate for the penny to keep its place in our economy and I couldn't agree more. The penny may be annoying, but it plays an important role in our economy, is popular among most people, and is an important piece of symbolism. Some say that the penny is completely useless, and though it may seem that way, the penny is probably way more important than many people realize.
Another piece of evidence I have is that in Canada the Canadian senate committee held a meeting on whether the penny should be spared and if they did think that it should be spared to come forward to say why. No one came forward and said why the penny should be spared. My last piece of evidence is that already some countries have already the retired the penny. Those countries made a smooth transition in retiring the penny and that the people were okay with it.
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.
They go with history, they help charities, and they can help society. Pennies are a part of our history. For example, “The one-cent piece, commonly referred to as the “penny,” has been a part of United States history for over two hundred years. Its design has changed twenty-one times. History also shows that as the economy has changed, so has the value of the coin.”