Many Americans assume that because a penny’s worth is minuscule, it’s importance in this country is too. On the contrary, this tiny, copper coin is a symbol of America and has been since its creation in 1787 (Source B). Now, after two centuries of the penny’s existence, a bill has been introduced by Jim Kolbe to rid America of this form of currency (Source A). The controversy over this idea has kept Kolbe’s bill from being passed for almost a year (Source A). America is due for an agreement to be made on this dispute. This icon of America should not be abolished due to its historical meaning, economic benefits, and American’s great desire to keep this coin.
What politicians tend to forget when introducing contentious ideas is that American’s
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opinions matter most, as they are the people who must live with the final decision. A poll created to determine America’s stance on the termination of the penny showed that more than half of the participants are for retaining this coin (Source E). In fact, according to The Harris Poll, “62%” of adults who make less than $25,000 annually oppose abolishing this currency (Source E). In other words, Americans who earn less money understand the value of a penny much more than wealthier individuals, such as politicians. Opponents to these coins may claim they are unpopular and wasteful because they disappear from the circulation of currency frequently. In actuality, Mark Weller, Executive Director of “Americans for Common Cents” discloses they drop out just as quickly as every other coin, which is about “5.6%” of the time (Source D). The value of the coin does not hold meaning in this case. Because the penny is forgotten about just as much as any other coin, should those coins be abolished too? The value of a penny is clear, it is worth one cent.
This makes it an outlier as it does not follow the pattern of fives found in all other forms of coinage. People like Kolbe find this to be a reason to abolish the coin, but there will be major economic setbacks without that one cent. Problems with pricing products would arise, as all prices would now have to end in multiples of five. Lewis Mark claims prices would be “rounded up” to accommodate the new method of currency (Source A). What other prices would change because of this? How about the one tax that affects every American almost daily, sales tax. It is currently 6% of the dollar, which would not fall in line with the new pricing system. This tax would have to increase to 10%, thus taking a massive chunk out of every Americans wallet through each purchase. What seems like a small change in the currency system would ultimately bear economic hardships for all Americans.
These hardships do not have to be faced though if the penny stays within America’s currency. In fact, there are only benefits to its continuation. Some would disagree with that, as people like William Safire deem the coin “worthless” (Source C). A penny may only be worth one cent, but when saved with other pennies, it can total to large sums. Edmond Knowles saved about 90 pennies a day for 38 years, which totaled to $13,084.59 (Source B). The saying ‘a penny saved is a penny earned’ is reflected in Knowles and his belief in the value of a
penny. A penny is greater than just a form of currency though. It has more history than any other coin, as it was the first form of currency ever created by the United States (Source B). In 1909, it became the first coin to showcase a historical figure, who is former president Abraham Lincoln (Source B). His face became iconic for the penny and for America, seeing that it truly symbolizes not only the country but also an unequivocally extraordinary man. The design of the penny was updated once, in 2009, to commemorate Lincoln’s 200th anniversary of his birth (Source F). The new images are meant to mark different stages in his life. According to the “Abraham Lincoln Bicentennial Commission,” the penny is “the most visible and tangible reminder of Lincoln’s significance in American history.” To abolish this coin would be like taking a few years out of history and throwing it away. This coin is more than just the change you receive after a transaction, it represents years of history shaped by one of America’s icons, Abraham Lincoln. Who would have thought that something kept in place for over two centuries would have its very own existence questioned now? To have made such a mark in history and grow to be apart of America’s everyday life and then be taken away all of a sudden seems ridiculous. A penny, so small in size yet so large in significance is shaking things up for the government as they try to resolve whether or not to abolish the coin. Let's hope the correct decision is made, as dissolving the penny would create more problems than cure
Between 2001 and 2006, there has been an increase of .6 cents for the reproduction of the penny. This increase displays economic problems that may lead to fatal ones. The penny is composed of 2% copper and 98% zinc. These elements are exponentially in demand causing the price of these materials to skyrocket. Many Americans think the penny is putting our country in jeopardy with financial losses. This meaningless coin is losing money for the mint, and should be abolished.
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
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.
They must be eliminated, but you might think. Will 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 rounded 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.
Treasury Secretary Jack Lew’s proposal to introduce a woman onto American currency, although meant to make up for an injustice, does not come without a major flaw. Lew’s proposal to remove Alexander Hamilton from his prominent position on the ten dollar bill relegates an influential historical figure. Although it is important to recognize women’s contributions to America, it should not be done at the expense of Hamilton when an undeserving man such as Andrew Jackson is honored on the $20 bill. Due to the debate surrounding America’s currency, Thomas Jefferson’s worthiness of being on the nickel has also been questioned. Admittingly, all men and women have their weaknesses, but it is important to recognize when those weaknesses outweigh their strengths.
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 a wonderful coin. It might only be worth one cent but that one cent can help people in all sought's of situations. The penny should kept in circulation. There are many people that use the penny still in today’s society.
Millions of Americans work full-time, day in and day out, making near and sometimes just minimum wage. In 1998, Barbara Ehrenreich decided to join them in part by the welfare claim, which promises that any job equals a better life. Barbara wondered how anyone can survive, let alone prosper, on $6-$7 an hour. Barbara moved from Florida to Maine to Minnesota, working in the cheapest lodgings available and accepting work as a waitress, hotel maid, house cleaner, nursing home aide, and Wal-Mart salesperson. She soon realizes that even the lowliest occupations require exhausting mental and physical efforts and in most cases more than one job was needed to make ends meet. Nickel and Dimed reveals low-wage America in all of its glory, consisting of
Even though members of Congress are trying to ban to penny, Americans can spare the time to use them. In Ric Kahn’s
We already have 5¢, 10¢, 25¢, and 50¢ coins! If we keep pennies it will be a lot to handle with the $1, $2, $5, $10, and $100. Not to mention how we got rid of the $500; $1,000; $5000; and $10,000 in 1969 so we could extort rid of the penny. For items that are like $1.97 we can round up to $2.00 and down to $1.95 so we can round the value. It may make things more expensive, but not too much so the trade is worth it.
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.
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.
A buyer brings along with him snacks that he would like to purchase in a dollar store: chocolate chip cookies, a Pepsi, gummy bears, and a bag of chips. He waits in line, eager to consume this huge delight. It is his turn, and he hurriedly placed his treats on the counter, waiting anxiously to pay immediately. The cashier replies to him, “The price will be $5.99, sir.” The buyer takes out five one-dollar bills and four quarters. Not an instance did he ever use a penny in this case, which he thought was useless and meaningless. As you can see, the penny has become quite worthless and diminished in purpose. Many citizens would prefer to round up and pay rather than spend time and look in their
First of all, pennies can add up to be a great deal of wealth. According to source 3, “A penny is not worth much by itself.” If you were saving up to buy something you really want. You could save all pennies you see. This will eventually add up and you can get what you have been waiting for. Also, as stated in source 1, “A penny saved is a penny earned.” If you were just living paycheck to paycheck. You could have some extra money to spend on some fun. All you