What Is It Worth To Get Rid Of The Penny?

259 Words1 Page
bulb-icon

Recommended: An essay about pennies

Pennies have always been respected for having played a big role in american history but does the penny actually deserve to be held in such high regard if it's just collecting dust under the couch. Since 1857, the penny was used and changed throughout the years but it might be a better idea to get rid of the penny because of its expensive production costs and its effect on the economy.
For the longest time pennies have always been known to be worth one cent but it's actually more expensive to make the penny compared to what it's actually worth. In an article by Jeff Sommer, “Penny wise, or 2.4 cents foolish”, he explains canada's decision of banning the penny and states that “each zinc and copper coin costs 2.4 cents to produce and distribute.”

Show More
Related

  • Penny Synthesis Essay

    842 Words  | 2 Pages

    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

    Read More

  • Barbara Ehrenreich's Research and Economic Findings in Nickel and Dimed

    920 Words  | 2 Pages

    For her book, Nickel and Dimed: On (Not) Getting by in America, Barbara Ehrenreich, a middle-aged female investigative journalist, assumed the undercover position of a newly divorced housewife returning to work after several years of unemployment. The premise for Ehrenreich to go undercover in this way was due to her belief that a single mother returning to work after years of being on welfare would have a difficult time providing for her family on a low or minimum wage. Her cover story was the closest she could get to that of a welfare mother since she had no children and was not on welfare. During the time she developed the idea for the book, “roughly four million women about to be booted into the labor market by welfare reform” were going to have to survive on a $6 or $7 an hour wage; the wage of the inexperienced and uneducated. This paper will discuss Ehrenreich's approach to the research, her discoveries, and the economic assumptions we can make based on the information presented in her book.

    Read More

  • Argumentative Essay: Do We Really Need Pennies?

    645 Words  | 2 Pages

    They must be eliminated, but you might think. Wont 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 round 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. Another thing is that everyone loves lincoln so they might think that his monument might be taken away but taking away the penny won't take away his memory we will still have him on our five dollar bill which won't go away. Yes you might think it is unpatriotic or disrespectful to take away lincoln but the us military is not using pennies because they have already realized that pennies are useless and not needed so they round to the nearest five cent. So basically pennies just aren't worth making, they waste people's time and they don't even work as money like they are supposed to, and because of inflammation lose more value every year making them making everything

    Read More

  • To What Extent Did Margret Thatcher Impact the British Economy?

    1788 Words  | 4 Pages

    Pound valuable: worth $1.63 but after a total of five years, the pound was worth $2.42 (McSmith ...

    Read More

  • Should Pennies Be Eliminated Essay

    774 Words  | 2 Pages

    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

    Read More

  • History of the Penny

    839 Words  | 2 Pages

    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.

    Read More

  • value

    1823 Words  | 4 Pages

    1: Estimate the value of AEM and its equity from operations using the DCF method.

    Read More

  • Hypothesis For Penny Cleaning

    255 Words  | 1 Pages

    My hypothesis for the penny cleaning with the chemicals experiment was accepted. The hypothesis was; “If a penny is placed in salt and vinegar, then it will get cleaner than the other chemicals being used”. The data used from the experiment that supports the hypothesis was that the salt and vinegar chemical cleaned a penny the best it had a 90 out of 100.

    Read More

  • T. V Show: Full House Vs. Modern Family

    711 Words  | 2 Pages

    I will discuss a T.V show that began in 1987 and ran until 1995 and compare that to a T.V show of today Modern Family; which first aired in 2009. The two are both American family sitcoms and comedies that have had great success throughout the air. These two shows are both unique in their own way. Full House is based in the late 80’s and early 90’s in San Francisco. Now Modern Family is today and still on air going for the 7th season based in the suburbs of Los Angeles. That if you look at the family photo of the entire Modern Family cast and the complete Full House cast shows how the typical sitcom family has changed over the time. 80’s to present

    Read More

  • Penny Informative Speech

    518 Words  | 2 Pages

    "As of 2014, the cost of making a penny was estimated at 1.7¢. So yeah, it almost costs two pennies just to make one penny- which makes no sense (pun intended)". Over time, many people have called for the U.S. to stop making pennies. Three reasons why are, we have a lot of coins and bills, not many people carry around cash, and making pennies can waste time, money, and minerals. That is why I believe the U.S. should stop making the penny.

    Read More

  • Importance Of Keeping The Penny

    756 Words  | 2 Pages

    There is a side to this debate where the penny could win and stay in circulation. To start, the penny has been around for years and years and it has seemed to work for this whole time. This is true, the penny has been around and can be used still in everyday life. The turn side of this, though valid, is with systems changing is is becoming more and more rare for the penny to have a true dire need. One other strong reason to keep the penny alive would be charity. Charity relies on those people who do not necessarily care enough to keep the pennies t drop them off in the donation box. That though, has a simple solution. If the penny were no longer around nickels and dimes would begin to be the change customers and users are no longer wanting. Charity then in result

    Read More

  • Reasons To Keep The Penny

    407 Words  | 1 Pages

    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.

    Read More

  • Argumentative Essay-Should The Penny Be Eliminated?

    1296 Words  | 3 Pages

    For instance, in the article “Abolish the Penny (Source 3)”, it clearly states, “Where do they go? Two-thirds of them immediately drop out of circulation, into piggy banks or –as The Time’s John Tierney noted five years ago –behind chair cushions or at the back of sock drawers next to your old tin-foil ball.” Adding on, many people view the penny as a useless currency, and they even leave it in hidden places around their own home. The reason why pennies are sometimes located in piggy banks or at the back of sock drawers is that citizens see no purpose in obtaining them. In other words, it seems as if the penny has lost its fame and glory ever since other forms of currency have been established, such as quarters, dimes, and dollar bills. As explained by William Safire, quarters and dimes seem to circulate more often than pennies, and pennies “disappear” due to their worthless value and troubles. Specifically, the reign of quarters and dimes has overtaken the significance of pennies, and as time passes by, the term “penny” might not even be mentioned anywhere around the United States. In addition, more people nowadays tend to use quarters and dimes for due change, leaving the penny to become less essential for our needs. As stated in Source 3, the British and French have already abandoned their low-value coins approximately 30 years ago. This demonstrates the probable

    Read More

  • Coin

    1060 Words  | 3 Pages

    The American dream is based on one thing, happiness, but what is happiness? Happiness is usually characterized as, something that makes you feel, fulfillment, joy, and pleasure. However I think happiness is different for everyone, and ever changing depending on where you are in life, and my life is a perfect example of this. A years ago if you asked me what happiness was, I would have told you, I was experiencing pure happiness. I had a job that paid well, a nice car, my first street bike, and an amazing girlfriend of three years and was a pretty good Christian. One day she left, and my happiness fell apart, I went into depression, and stopped caring about life and God. I turned to drugs like weed to make me happy instead of working on my self. I still struggle with depression some days, but I try to focus on my new goals in life. Graduating college with my Bachelors in Nursing, becoming closer to God once again, getting back in shape, meeting a girl in college, and getting married. For Augustine Pure happiness is only possible by living in God. In Augustine’s mind God is the greatest happiness man can obtain. He says “You stir us so that praising you may bring us joy, because you have made us and drawn us to yourself, and our heart is unquiet until it rests in you (Augustine, 1,1).” I need to start applying Augustine’s teachings to my personal happiness. If I can focus more of myself on God and trust him, everything will work itself out in the end. Unfortunately sometimes we sin in order to achieve false happiness.

    Read More

  • What Is One Worth?

    1625 Words  | 4 Pages

    In the depths of an individual’s being, lies his or her self-worth. Self-worth molds individuals into who they are, what they want to become. Self-worth lies at the heart of self-esteem. Self-esteem is, Palladino (1994) a blend of “self-confidence, self-worth, and self-respect. It involves respecting others, [along with] feeling a sense of harmony and peace within yourself” (sec.1p.1). The secret to higher self-esteem is the incentive to take accountability for one’s viewpoints, such as his or her aspirations, ethics, capabilities, and curiosities and to understand that these things combined is what makes them who they are (Palladino, 1994). However, the quest of higher self-esteem at times will cause sacrifices to be made by the individual to education, relationships, self-regulation, mental and physical health, as well as other concerns (Crocker & Knight, 2005).

    Read More

More about What Is It Worth To Get Rid Of The Penny?

Open Document