The Penny: A One-Cent Piece of History In 2014, the US Government spent over $130 million in order to make and distribute over eight billion pennies (“Should the US” 22). This, to former senator Jim Kolbe, is “government waste at its worst” (qtd. in “Pinch the Penny” 3). For the past thirty years, people have argued over whether the penny was worth keeping in circulation. Many people say that it costs the United States government too much to produce, while others say that it keeps the economy and keeps prices in check. Although the penny is an important piece of American history, eliminating the penny will save time, money, and the environment. Even though there are over one trillion pennies in circulation today, their face value along with …show more content…
This will save considerable amounts of government money: almost $40 million annually (Cavanaugh 70). Eliminating the penny will also save time in lines at grocery stores and will save the environment from pollution. In order to avoid these adverse effects, penny production must be either eliminated or lowered. Although many people have thought of a penny-recycling program to try to avoid these adverse effects, no ideas have been implemented. “Despite the fact that the US has recycled 21.8 million tons of metal in 2013, a recent year for which details are available, not a single penny is recycled, at least by the mint” (Cavanaugh 70). The fact is that, as forms of electronic payment such as credit cards or PayPal are becoming more popular, all forms of physical currency, not just the penny, are becoming obsolete. Some might even argue that the nickel or dime isn’t worth keeping in circulation, not to mention the penny. By eliminating the penny, the government will spare not only United States citizens, but also itself the trouble of dealing with the insignificant …show more content…
“Penny Reign: America’s Least Valuable Coin Endures.” Reason, Jan. 2011, p. 70+, Opposing Viewpoints in Context.
Fragale, James A. “In Praise of a Humble Coin.” Newsweek, 7 Apr. 2008, p. 20, Opposing Viewpoints in Context. Fund, John H. “Penny Wise.” [“Proposal to Abolish the Penny”]. American Spectator, vol. 39, no. 5, June 2006, pp. 46-47, EBSCOhost. “Pinch the Penny? Debating the Value of the Penny.” Current Events, a Weekly Reader publication, 29 Sept. 2006, p. 3, Opposing Viewpoints in Context.
“Should the U.S. Get Rid of the Penny?” Junior Scholastic/Current Events, 8 Feb. 2016, p. 22+, Opposing Viewpoints in Context.
Sommer, Jeff. “Penny Wise, or 2.4 Cents Foolish?” New York Times, 8 Apr. 2012, p. 6(L), Opposing Viewpoints in
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
Do we really need pennies? The story of the penny starts in 1792; it came with several different coins including the dime, nickel, quarter, and half penny. The pennies were first made out of 100% copper, but the price of the copper went up, because of inflation, the power of the penny went down. The cause of the mint is to reduce the amount of copper in pennies first from 100% to 95% but then to 5% copper and 95% zinc. Despite the debate in 2006, the value of metal on older pennies rose over one year.
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 affect the United States because the government would not have to devote millions of dollars to pennies. While many other people think that eliminating the pennies would negatively impact 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. To begin, the United States should not eliminate the penny because the coin has impacted our language by giving us more phrases and words.
Ehrenreich, Barbara (2001). Nickel and Dimed On (Not) Getting By in America. Published- New York, New York.
In 2001, United Sates Representative Jim Kolbe proposed a legislation to Congress to dispose the penny coin from the currency of America because of its small impact. Although his legislation failed, most people currently argue about the penny’s existence today. Even though the penny stood as a mark of history, it is useless and should be eliminated from America’s currency.
Though the penny’s value has decreased a good amount, some Americans condemn the idea of abolishing the penny because they believe the penny is sentimental to American history. Penny fans argue
Everyone knows the penny, the one-cent coin that has influenced American culture throughout the ages, what you may not know is that America’s smallest coin is under attack. As a result of the costly production of pennies, people have been debating over whether the penny should continue to be printed and used. Although some think kicking the penny to the curb is the way to go, the penny should not be done away with because of the cost of inflation, the cost of other coins, and the cost of losing a very valuable asset in our money system.
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
The one-cent coin, more commonly known as the “Penny”, was made a legal form of money in 1864. The penny has been used as a form of payment for centuries. It is now 2018 and time for a change as the use of the one cent coin has declined. We should eliminate the penny. In doing so we can support charities, adjust the american pricing system and eliminate production costs. Pennies are too expensive compared to their actual value.
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.
Countries like New Zealand, Brazil, and Canada have all concluded that pennies are no longer worth making because of all the negatives about them. In the article, “The Penny Debate- Should We Keep the Penny or Get Rid of It”, the author states that getting rid of small coins doesn’t hardly have an effect on anything because most people don’t use them anyway. If all the other countries have abolished their small coins with no problem America should be able to get rid of the penny with no
In America pennies cost more than double to make than what they are actually worth. The United States mint says that every zinc and copper coin costs 2.41 cents to produce and distribute. The United States mint verifies the fact that it costs 2.41 cents to make a coin that is only worth 1 American cent, so this completely useless coin only has the mint losing money not gaining. Tax payers in America have lost a total 60.2 million dollars and production and distribution of the pennie in the 2011 fiscal year. This explains how the pennie has been causing people to lose many just by continuing to make more
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.
Ehrenreich, Barbara. Nickel and Dimed: On (Not) Getting by in America. New York, NY: Metropolitan Books, 2001.