Should We Abolish The Penny?

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How often do people use pennies when they are making a purchase? The penny is big part of history that just isn't relevant anymore. Our society is growing and moving more towards all electronic. Some say eliminating the penny will alter prices and perhaps create a mini inflation. The production of a penny is 1.7 cents and it is costing the U.S. money it could use elsewhere. We should eliminate the penny because they are outdated, worthless, and wasteful.
The penny is outdated because technology has grown over years. With todays technology more people are straying away from using cash. According to Charlie Sorrel, "As online shopping becomes yet more prevalent, and prepaid credit cards take the place of more and more low-value cash transactions, …show more content…

Pennies can't be made for lower than their value and that is why they are unprofitable. Confirmed by Zagorsky, “One of the most compelling reasons cited fro getting rid of the penny is the fact that its become unprofitable due to inflation and the rising cost of materials. The U.S. Mint has been losing money on every penny it's produces since 2006.” The penny isn't used enough by the people who live in the United States to make up for the production costs so that is why people feel we should abolish the coin. Time is wasted both with production and at the cash register. Demonstrated by Michaela Kaplan, a New York Time writer, “The National Association of Convenience Stores did a study showing that pennies extended transactions by two to two-and-a-half seconds. You lose an hour or two per year dealing with pennies that you happily leave in jars or under the cushion of your sofa.” This emphasizes that stores personally don't like dealing with the inconvenient penny. With how fast paced everyone is in our society today it is hard for people to have the patience and wait for that extra time to get change back and thats why everyone is changing electronically. Each year people will be surprised at how many pennies they lose and how much time they waste in the store worried about getting exact change. People would have more time to get other things done in the day if they didn’t have to worry about

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