Why The Penny Should Die Essay

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Pennies Shall Die
We can all agree the economy of the United States of America has changed a lot in 151 years. So why are we using 151 year old currency? The penny, which was first commissioned in 1864, has reached the end of its life, even though some say we should keep it because removing it would hurt the poor. The American government wastes lots of money each year making these useless coins. It is time for our country to move away from the one cent coin. The penny should should be removed from circulation because other countries have done is successfully, they are not worth anything, and they are a waste of money.
America should ditch the penny because other countries have done it successfully. An article by a former soldier has the …show more content…

Evidence from a TIme magazine article about financial reform is ¨ The penny is a currency without any currency¨ (Stanburn) Currency is a word the means system of money exchange so this quote means that the penny is a coin that doesn't help us exchange value. This quote from an article by a coins expert states ¨They don't buy anything, many people just throw them away, and nobody wants to use them, so let's just get rid of them!¨ (Headley). This quote is talking about the fact that you can’t buy anything with a penny, in today's economy nothing cost one cent because of this pennies tend to collect on people's dressers, in jars, and in trashcans. Ar reason from a Money Week article is we should remove the penny from circulation because the U.S. has had to pass legislation banning the melting of pennies.(Heaton) If our coins face value is so little that people can and do melt coins down for the metals in them and make a profit and to force the U.S. to ban the procedure just shows how little the penny is truly worth. The penny should die because it is not worth any thing, in fact it wastes …show more content…

This piece of evidence comes from Greg Mankiw in an article by PBS news “It costs the mint well more than a cent to make a penny” (Mankiw) This shows that we should stop producing the penny because it makes no sense to make something that is not worth the money you spent to produce it. Another quote comes from The Washington Post “I am able to report that…drugstore chains have estimated that handling pennies adds 2 to 2.5 seconds per cash transaction. Assume that the average citizen makes one such transaction every day, ...so futzing with pennies costs him $3.65 annually. “ (Mallaby) This quote proves that pennies waste money because by physically paying with pennies you waste money, it might seem like a small amount but with millions living here it adds up. A final piece of evidence is from a PBS newshour article “the government continues to mint four billion pennies every year, even when it costs 1.8 cents to mint one penny. That means the U.S. government pays $8 million more than pennies are worth.” (Solman) This quote shows that the U.S. waste a ridiculous amount of money every year making pennies. The penny should be eliminated because it waste our money even though there are some

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