So, a while back, I was at the mall. I bought some stuff, and paid for it with cash.I got given some change back. In that change was a penny. I will never, in my life, use that penny to buy anything. I don’t ever use pennies. They will sit in my coin box until I do something with the all the pennies, like take them to a coinstar or something, which, by the way, is a leech upon our economy.. Until the year that I do that, that penny is useless. It isn’t contributing at all to the economy. Pennies are useless. And because of their uselessness, they deserve to die. They aren’t just useless to our economy, actually they contribute to the decline of the economy. There are several reasons why pennies need to go, and no reasons why they should stay. Also, getting rid of pennies isn’t exactly unprecedented. …show more content…
Money exists as a medium of transfer, so rather than bartering like savages, we can make exchanges much easier, using money as a medium. Money needs to have smaller parts so the price can be just right, but the units don’t get infinitely smaller, they need to stop at some level of subdivision. This relates to pennies, because it used to be that people could buy stuff with pennies, but today, pennies are worth a negligible amount. Pennies are worth less than 1/100th of a pack of gum. That is useless. Nobody is going to carry around 11 pounds of pennies to buy groceries, because that is just idiotic. So pennies end up just sitting in jars, contributing nothing to the economy after their brief, meaningless life, where they failed at their sole job, to facilitate some sort of
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.
We strive on making everything more efficient. As stated by a www.globe.com article, “The National Association of Convenience Stores and Walgreens drug store chain estimated that handling pennies adds 2 to 2.5 seconds to each cash transaction (remember that we are including the occasional customer who spends 30 seconds looking for the penny in his pocket)” (Source B) That is a lot of unneeded time. When you get the penny back does it mean anything to you? It was also estimated that if you add those 2.5 seconds, it equates to 4 hours per year handling pennies. In keeping with the thrive and efficiency to move along in America, you can be using those 4 hours for something much more productive. As another example, say you are walking down the street and you see a penny on the ground, will you stop and pick it up? You most likely will not pick it up because it has no value. Now what if it was a nickel, or a quarter? Will you pick it up? Most people will definitely pick it up. A penny is just a waste of time. Finding a penny at the bottom of your pocket or in your bag drives cashiers crazy. There would be no need for this wasted time if we abolished the penny. The penny is stopping every great American from pursuing the next biggest breakthrough or
In America’s modern day economy, the penny is very useless and irrelevant in our society today. As source C states, “The time has come to abolish the outdated, almost worthless, bothersome, and wasteful penny.” There is not one item that can be purchased with a penny anymore (Source C). As source C states, “it takes nearly a dime to buy what a penny bought back in 1950.” Stores such as the Dollar Store prove how the cheapest items you can purchase are with only a dollar, not a cent. Pennies are shoved out of the economic picture by credit cards and because of the modern-day technology, there are even self-service machines that help convert coins into paper money (Source B). Furthermore, pennies are easily tossed into piggy banks or appear behind chair cushions. It is not used the same way as it was before.
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 influence the United States because the government would not have to devote millions of dollars for pennies. While many other people think that eliminating the pennies would negatively influence 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.
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.
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.
While the penny is only worth one cent what is it worth to millions of Americans who had relatives fighting in the civil war, or that were slaves in that time period? Pennies mean more than just currency it has a very important value in history. Yes the penny may be the lowest type of currency here in the U.S, but its sentimental value means more to Americans than the value to businesses.
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.
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.
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
It would be best for America to find a way to abolish the penny, while still preserving its history, The argument for abolishing the penny is more complex than it may seem, and could unexpectedly impact even those who don’t use the coins. Abolishing the penny would save valuable time, as well as resources, but could also pose economic problems. Uneven pricing, and an inability to smoothly complete transactions, can be counterproductive when attempting to save
I have given a detailed speech on why pennies are not worth it, yet, the next day, I declared my love for the shiny coin when I found a stray on the ground. “I’m one cent richer,” I exclaimed. My love for the penny is something I have in common with many Americans. The penny-lovers might be thinking, "We can't get rid of the penny! We're Americans. See, there's Honest Abe Lincoln. He deserves his place here immortalized on this coin." I share this sentiment, but Lincoln still has the five dollar bill and the Lincoln Memorial. On the other hand, the penny is bad for the environment (Mining creates pollution.), dangerous to people and pets (It is 97% zinc.), and essentially useless to the consumer in
Is the penny really worth it? For over two hundred years, the penny has been a part of the United States with many different alterations in its shapes and sizes, and has been of historical significance to the United States. With the 16th President, Abraham Lincoln, on the top of the coin (as of now), it maintains its significance for quite awhile. Although some will argue that the production of pennies should be continued because, “a penny saved is a penny earned,” it really does no good at all. To make money costs money, and the penny is made for more than it costs itself, and the it’d be a reasonable way to round up prices in businesses.