Pennies are the iconic symbols that have always been a key part in the United States, why would anyone want to get rid of that? Well in Canada, they banned the coin due to the waste of time and money put into making it. They thought that many people just store them in dressers or put them in jars. To prevent continuing the wasting of pennies, Canada is thinking of melting the coins or donate to charities. Due to the loss of money to make the coins, and inflation, the banning of pennies is a good idea. Starting off, pennies are a waste of yours and the governments money. If you ever thought that pennies cost the same as it’s worth, that is completely wrong. Pennies may seem worthless, but it actually cost about 1.6 Canadian cents to make a …show more content…
Inflation is the causing of price to increase, but before you think it’s a bad thing, listen up. Though inflation may seem outrageous and that there is no way you are going to pay even more for the high prices there already are, think again. In paragraph 7 in ‘Penny wise, or 2.4 Cents Foolish?’, it says, “A $2.01 cup of coffee should be rounded down to $2…” (Sommer). You may think that it’s only a cent taken off, so there is no point in banning it. That’s true, it’s only a one cent difference, but everyone that has experienced that feeling of dread when searching through your purse, wallet, or pockets looking for that one pesky penny hiding in the oddest places wouldn’t feel the dread they did before. Although others argue that they might not experience that dread nor want to pay extra, because prices that are above or at three cents will be rounded to five. Those who think that must take into consideration that in a competitive markets the price will most likely decrease for business purposes. Because of that, this brings into the fact that in some places, they can go down a whole five cents, maybe even ten. The article, ‘Penny wise, or 2.4 Cents Foolish?’ states, “...In a place like New York, a 99-cent price pizza might go down to 95 cents rather than $1…” (Sommer). For those who do believe the government shouldn’t ban the penny because of inflation, it really isn’t too much of a
In fact there are many people that oppose abolishing the penny. In source E it states “that 62 percent of people oppose abolishing the penny that has a income less then $25,000 a year.” If the penny was to be abolish then the nickel would be the lowest coin in amount of money. If the nickel was the lowest amount of money there was then that means the purchase prices of items sold would increase. The prices would increase on items sold because the penny would not be in circulation to allow the customer to pay with the correct amount of change. Instead of being able to pay $3.47 for a kids meal at MacDonalds the customer would have to pay $3.50 for the kids meal. With the increasing prices of merchandise sold in stores there could be a budget upset for many families that have to follow a tight budget. Many families have to follow a tight budget to be able to provide for there families. With a tight budget there is no room for the prices of merchandise to increase due to losing the penny. Every penny counts when it comes to having a tight budget and providing for your
We should keep the penny because it has history, in fact it was “the first currency authorized by the United States” (Lewis). The penny no longer has the value that it used to have, but it is still necessary to make purchases as accurate as possible. The penny may seem like a waste of time to many Americans because it takes so long for cashiers to make change, forcing people to wait in line, but it is actually worth the time spent. The penny helps with keeping prices a cent lower, and therefore stimulating the economy. The penny is important to many people who need the money and for whom pennies still have value.
In 2001 United States Representative Jim Kolbe introduced legislation to Congress to eliminate the penny coin in most transactions. Although this legislation failed, there are still consistent calls to eliminate the penny as the smallest-denomination United States coin. Our nation is founded on passed traditions. Any American can look basically in any place to understand why America has thrived for centuries. Every tradition, sculpture, monument, or artifact gives Americans history about what has occured. The country struggles to destroy any of these long kept traditions. Although some traditions are completely relevant, the use of the penny is of little worth today. Whether the penny is rolling around in your pocket or resting at the
They must be eliminated, but you might think. Wont prices go up and charities lose money? No. new zealand , finland, and the netherlands stopped using the one cent or the one cent euro and noticed no change in cost instead they round to the nearest five cent. Anyways the US has already gone through this process without trouble like the half cent it was eliminated in 1857 because it was too little worth. Another thing is that everyone loves lincoln so they might think that his monument might be taken away but taking away the penny won't take away his memory we will still have him on our five dollar bill which won't go away. Yes you might think it is unpatriotic or disrespectful to take away lincoln but the us military is not using pennies because they have already realized that pennies are useless and not needed so they round to the nearest five cent. So basically pennies just aren't worth making, they waste people's time and they don't even work as money like they are supposed to, and because of inflammation lose more value every year making them making everything
The debate of eliminating pennies or maintaining pennies is a current focus in the United States. Many people think that eliminating the penny would positively affect the United States because the government would not have to devote millions of dollars to pennies. While many other people think that eliminating the pennies would negatively impact the United States because of the rounding tax that would be introduced after the pennies are eliminated. I think that we should continue to keep on manufacturing the pennies because the penny shows how it impacted the English language, it can also help causes that can save lives, and pennies can keep the government from creating the rounding tax which can cost consumers millions of additional dollars. To begin, the United States should not eliminate the penny because the coin has impacted our language by giving us more phrases and words.
Have a good look at the penny, what do you see? You probably see nothing but a copper coated circular poor valued cent. Little does everyone know pennies have been around longer than before their grandparents, even their great-grandparents! Matter of fact, it was around so long ago that Abraham Lincoln’s face was not the first design on the penny. I ask that you take the time to consider the American penny’s worth. Without the people’s belief in its value, the penny will be abolished. I see people every day throwing away a penny rather than to put it in their pocket and save it for future uses. Yes a penny is "outdated, almost worthless, bothersome and wasteful" (Safire) piece of junk, but it's has an economic, cultural, and historical significance to the United States of America. The problem is that nobody pays attention to that, and that gives pennies the image of no value. Three good solutions to show the pennies worth include: tolls and vending machines accepting the coin, more charities to keep their penny drives, and historical evidence of what the penny mean to America so that it can be passed on to the future generations.
The penny is so close to worthless that there is a major debate on whether the penny should be kept in circulation. Keeping the penny in circulation would be mostly for those traditionalists who see this coin as history and luck. Many are working very hard to keep that piece of history from meeting its retirement. ALTHOUGH THE PENNY HAS BEEN AROUND THROUGH AN ABUNDANCE OF GENERATIONS; DEPLETING THE NATION OF THIS COIN WOULD BRING LESS HASSLE AND MORE BENEFIT.
Finally, making pennies is a waste of time, money, and minerals. The minerals in pennies are copper and nickel. Over time, copper has gotten more rare and nickel is in other coins, so let's use it for them! You may deem that these are not strong, but if you support this it could help us in the future when we need the minerals. In the time that it takes to make pennies we could be making other coins or bills. Like Denver Nicks said it takes 1.7¢ to make a penny, two pennies for one! That is wacky, those can oomph to better uses. We can endure those minerals and use them for other things in the
In 2001, United Sates Representative Jim Kolbe proposed a legislation to Congress to dispose the penny coin from the currency of America because of its small impact. Although his legislation failed, most people currently argue about the penny’s existence today. Even though the penny stood as a mark of history, it is useless and should be eliminated from America’s currency.
There is definitely no purpose and meaning in continuing the creation of these worthless objects. All they do to the United States is cause trouble, and they are clearly a bothersome to uphold them in our possession since they barely contain any value. Our economy would be fit with just dimes, quarters, and nickels as our coins. Abraham Lincoln, who was the president represented in this penny, would disapprove having his reputation and honor shown in a futile currency. The government needs to stop producing pennies. They create a loss of money rather than a profit; therefore, these copper cents need to be gone from our economy. What other choice is available? What can these pennies do in order to redeem their glory? It is nearly impossible to convince residents to use pennies once again. The penny has lost its value, and their dignity has become faint to us. It is time to eliminate pennies–for
The first reason to keep the penny is that Americans have an emotional attachment to the penny. ⅔ of American adults want to keep the penny. That’s over half of America wants to keep the penny. The exact amount is 67% of Americans want to keep the penny. Another reason we should keep using pennies is they honor Lincoln. Abraham Lincoln is one of our most honored president who gets to be on the penny which means taking the penny away would dishonor him. My final reason to keep pennies is that pennies keep prices low. If we don’t have the penny, then we will have to round up to the nearest nickel. Imagine paying for a
The penny has been in America for centuries, it's a sentimental object for Americans everywhere. However many have debated on whether or not it should be eliminated or continue being made. The penny should be preserved because it is apart of American culture, given to charity, and keeps items cheap.
Cost. It is what drives the economic market of the world today. Back in the 1950’s, the penny was used for buying an array of smaller items. Stated in Source 3, “...it takes nearly a dime today to buy what a penny bought back in 1950.” Furthermore, the world is driven by cost. As known, prices increase everywhere - making it impossible to buy anything with just a penny. Moreover, where do all of the pennies disappear to? Penny heaven? “Two-thirds of them immediately drop out of circulation, into piggy banks… behind chair cushions or at the back of sock drawers next to your old tin-foil ball.” additionally stated in Source 3. Since most of the pennies in circulation cannot be found, what is the point in having them? Exactly, there not a valid reason. As stated earlier, it takes about a dime to buy
Inflation is defined as an increase in the expected price level and has been the signal for an improving economy, but it has also weakened an economy due to the unemployment it usually produces which usually hurts the Middle class the most. A healthy rate of inflation means an expanding economy due to higher tax revenues for the government and higher wages for businesses that are booming due to the high demand of their products. But if inflation surpasses of what is expected than employer will have to reduce wages to meet these new prices. When the Federal Reserve creates inflation most argue that this is robbing people of the money that they have saved because they have to use it due to the rise in prices. Printing
Inflation is one of the most important economic issues in the world. It can be defined as the price of goods and services rising over monthly or yearly. Inflation leads to a decline in the value of money, it means that we cannot buy something at a price that same as before. This situation will increase our cost of living.