Synthesis Essay On The Penny

Synthesis Essay

Over the years, the penny, a coin worth a hundredth of a dollar, has gradually become an outlier in America’s currency denomination. Having little to no monetary value, the decision of whether to keep or eliminate the penny has become an issue that plagues American citizens. Nowadays, the penny is hardly used during transactions, and does not seem to as important as the remaining denominations in U.S. currency. Although the penny is now seen as a nuisance that either jingles in pockets or gathers dust in piggy banks, it should not be eliminated because of fits historical and economical significance.

In America and everywhere else, traditions are valued because of them being continuous reminders of the past. Specifically in the United States, pennies allow us to hold on to this past as they serve as a “reminder of [Abraham] Lincoln’s significance in American society” (Source F). Even after being refined as seen in Source G, that represents the aspects of

Abraham Lincoln’s life. The penny is also the “first currency authorized by the United States” (Source B); therefore, eliminating it would be like banning history lessons because history does not fit in our current society’s curriculum. Artifacts, especially ones with great historical meaning such as the penny, are meant to be preserved forever; thus, abolishing the penny would be like deeming it as an anachronism which it is not.
Even though the penny is seen as a simple one-cent coin, its ability protect the economy by preventing inflation is one that must not be taken for granted.

If the penny, the prices most good will certainly be rounded up, in the favor of producers. Progressively, consumers will begin to lose money no matter how little it may be. Every penny counts. Also, eliminating the penny will cause the nickel to be the lowest denomination currency, and just like the penny, it will slowly lose it value. Source D emphasizes the economic importance of pennies by stating that “the EU also sought to avoid the systematic rounding of prices.” If eliminating pennies or coins of very low denomination was a good idea, they would have been removed from circulation by now. Another reason the penny should not be eliminated is because they provide jobs for people who work in the zinc and copper industries. Since there would be no need for zinc and copper miners, people who work in those occupations would lose their

jobs.
Although others feel that pennies should be eliminated because they are “worthless” (Source B), I believe otherwise. One single penny alone might not be worth much, but a lot of pennies put together add up to a large amount. An example of this is provided in Source B again as Edmond Knowles saved over a million pennies which turned about to be worth over ten-thousand dollars. Although he saved these pennies for 38 years, and 38 years is a long time, no one would have expected the pennies to be worth over ten-thousand dollars because pennies are placed on such a low pedestal.
In summary, pennies should not be eliminated because they are more important than are portrayed to be. Even Source E points out that a preponderance of people would rather keep the penny than abolish. Pennies were once the main denomination that shaped our past, so they should continue to shape our present. Abolishing the penny would be stripping away the values, experiences that built our nation.