Abolish The Penny Synthesis Essay

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The penny, one of America’s oldest and most treasured coins, has become a topic of much controversy. Dating back to 1787, it was the first currency authorized by the United States, and its 1-cent denotation is iconic for more than one reason. Some argue that a piece of currency carrying such a small value is only a waste of resources and time, while others point to the penny's popularity and importance within the American pricing system. Decidedly, America should look to abolish the penny because of the time and resources it may save, but only if price rounding standards are introduced, and further economic impacts are analyzed. The abolition of the penny is mutually beneficial for both the U.S. Mint and the people, because of the time it saves. Pennies have long been pushed out of the economic …show more content…

While it can be argued that other ways to honor the former president may be found, it would likely be costly to go about it in another manner. The penny serves as a dual-purpose object, a monument to the past, and a coin needed in many small transactions. Furthermore, a public study asking “Favor Abolishing The Penny” returned results that suggest that a large part of American society opposes such an idea (Source E). Still, it is important to understand the positive impact abolishing the penny would have. It would save valued time and resources, at the cost of a small monument to our history. It would be best for America to find a way to abolish the penny, while still preserving its history, The argument for abolishing the penny is more complex than it may seem, and could unexpectedly impact even those who don’t use the coins. Abolishing the penny would save valuable time, as well as resources, but could also pose economic problems. Uneven pricing, and an inability to smoothly complete transactions, can be counterproductive when attempting to save

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