The debate regarding the elimination of the penny has been ongoing for quite some time in the United States, with some agreeing to eliminate the penny and some choosing not to. There are many reasons as to why we should eliminate the penny, not just based on opinions. Although the penny stays popular with the public, they aren’t very beneficial to our economy because they are outdated, take up too much space, and are being overproduced. Eliminating the penny will bring in numerous benefits for our society. The penny is considered outdated in today’s economy for several reasons. Firstly, its purchasing power has been rendered unnecessary due to the inflation we have gone through. Source A, an Arizona Republican, proposed the Legal Tender Modernization Act that wouldn’t ban pennies, but would deem them useless since transactions would be rounded up or down. He states “the penny would be rendered unnecessary.” This shows us that we don’t need the penny and that there are solutions to eliminating it. In addition, the penny exceeds its value, which makes it an inefficient form of currency. Which is …show more content…
Since the penny isn’t used often due to its low value, people usually accumulate much more of these coins rather than any other, which results in a cluttered wallet, purse, pockets, etc. In source B, it states “the point of currency is to facilitate transactions.people fishing in their pockets.it’s a waste of time.” This shows us how pennies create more trouble not just for the customer, but also for the management who has to handle all of the change. Furthermore, some people go out of their way to save pennies and store them until they have enough to cash in as paper money. Source B, Edmond Knowles has saved “90 pennies a day for the last 38 years.” Which has added up to 55 gallon drums stored in his garage. Although this does take up a lot of space, he did eventually cash it in to
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.
To begin, United States should not eliminate the penny because the coin has impacted our language by giving us more phrases and words. According to source #4, it states, “The one-cent has influenced our language, giving us a number of idioms, such as ‘a penny for your thoughts’ (a way to ask what someone is thinking) and ‘not one red cent’ (meaning no money at all).” This is significant because it shows that the penny has affected the English language
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.
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.
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.
Why should the penny be abolished? Because it is only worth one cent, Or like Mark L...
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.
Being the first currency in the United States, dating back to 1787, the penny has been the longest serving currency - thanks to Abe Lincoln. In recent times, the penny has become a useless piece of material due to how costly everything is, the time consumed in making change, and the true objective to facilitate transactions. This is why the penny should be abolished from our society.
The penny is as enamored in US history as the Declaration of Independence, and has been around for almost as long as well. It saw Lincoln abolish slavery, and helps us remember that with his profile on the head side of the coin. However, pennies are not worth what they used to be. With everyone paying with credit and debit cards, many wonder “Why don't we get rid of the penny?” The answer to this problem is this: we should get rid of pennies.
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 penny, dating back to 1787, is one of the first currencies authorized by the US (Source B). This small piece of currency has been a big part of society and cash, but is now considered worthless and wasteful by many people. Although people may think this, the penny still has important uses. The penny still holds important value and should not be eliminated. First of all, many people oppose the abolition of the penny.
Pennies should stop being made and be eliminated. People care more about other coins like nickels, dimes, and quarters because they are more useful and worth more than pennies. In source 1, ‘ penny wise, or 2.4 cents foolish ‘ by Jeff Sommer, Canadian finance minister Jim Flaherty states that “pennies take up too much space in our drawers at home “ he stated in his speech. This statement is saying that pennies are pointless and a waste of space. Pennies cost more to make than they are worth.
There are people who say that it is not worth Bill Gate’s time to pick up a $100 bill from the ground, and for the average person the same can be spoken about the penny. The U.S. mint should do away with the production of the penny because it is too expensive. The penny contributes too much of the total debt of U.S. , the penny costs too much to make , other countries have benefited from getting rid of their lowest coin , many companies that accept donations will go up in money if he mint gets rid of the penny , the United States got rid of ½ cent in past without negative effects. People may think that the penny does not amount to much, but it contributes too much of the total debt of U.S. "nearly 92 billion pennies since 2000, with about
If you try paying for something in a store with a fistful of pennies, you can expect dirty looks from both the clerk and the other customers – if the store doesn’t just flat-out refuse to take them. Pennies are so hard to spend that many people don’t even bother – they just store them all in jars, or even throw them away. Economist Greg Mankiw of Harvard University argues that pennies are simply no longer useful as a means of exchange: “When people start leaving a monetary unit at the cash register for the next customer, the unit is too small to be