Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Federal Government Article Summary
In May 2012 the Royal Canadian Mint stopped minting one-cent coins (pennies). The Canadian penny has been in circulation since Canada established its own currency in 1858. Canada is following the path of what several other countries such as Britain, France, Australia, Sweden and Spain did. They all got rid of their smallest unit of currency (even some countries such as Australia, Denmark and Sweden getting rid of several of their smallest coins). The reason for elimination for pennies is because it is a waste of money and time. The Canadian penny cost 1.6 cents to make for every penny. This obviously shows that making a penny means that you have to spend more money to make something of lesser value. By eliminating pennies Canada would save about $11 million dollars a year. Pennies also waste time for consumers, retailers and small businesses as making change to the nearest cent wastes time. Since pennies have very
…show more content…
Although it will affect my little sister as she is in an elementary school, it won’t be much as she is in going to be in Grade 8 this fall (therefore the new curriculum only affects her for 1 year). Even after saying all of this, I still have an opinion on this “controversial” change that the Ontario government is trying make to the curriculum. I believe that we should teach things such as gender identity and sexual orientation a younger age as it is becoming a more accepted and prominent thing in our society. Young children should learn these things earlier as it will make it far easier to accept and respect these things. However I believe that things such as puberty, sex and STIs should be taught a bit later around Grade 6-8. This is because kid in Grade for are a bit more immature and won’t take things as serious as a Grade 7 student. I was taught these things around the same time and I had no problems with
In fact there are many people that oppose abolishing the penny. In source E it states “that 62 percent of people oppose abolishing the penny that has a income less then $25,000 a year.” If the penny was to be abolish then the nickel would be the lowest coin in amount of money. If the nickel was the lowest amount of money there was then that means the purchase prices of items sold would increase. The prices would increase on items sold because the penny would not be in circulation to allow the customer to pay with the correct amount of change. Instead of being able to pay $3.47 for a kids meal at MacDonalds the customer would have to pay $3.50 for the kids meal. With the increasing prices of merchandise sold in stores there could be a budget upset for many families that have to follow a tight budget. Many families have to follow a tight budget to be able to provide for there families. With a tight budget there is no room for the prices of merchandise to increase due to losing the penny. Every penny counts when it comes to having a tight budget and providing for your
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.
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
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
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.
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
"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.
In 2016 each penny cost 1.7 cents to produce so to produce one dollar it costs a dollar seventy. Minting these lower denomination coins cost the government more than what they are actually worth. The U.S Mints have tried to use cheaper metals to be more cost effective at making the coinage, but they are still not able to bring the cost of the coin to what the coins are actually worth. “ In 2014, the Mint shipped out more pennies than nickels, quarters, and dimes put together – over 7.9 billion coins. That adds up to a loss of over $55 million for that year alone”(moneycrashers.org). That is 55 million dollars lost in that year alone because the production costs outweigh their face value, the penny isn’t the only coin that costs more money than their face value to produce the nickel costs eight cents to produce. Compared to the penny which costs a dollar seventy to produce a dollar's worth, the nickel costs a dollar sixty to produce a dollar's
military forces, have already stopped using pennies on their military bases according to the Prairie News Register, and that hasn’t affected them negatively at all. And, according to research from the same source, Prairie News Register, the removal of the penny may cause commercial prices to drop. Companies will want to avoid the dollar threshold and lower the prices in order to maintain customers. The evidence against maintaining the pennies production is bountiful and largely outweighs the “the penny is sentimental” argument that most penny supporters exercise. Getting rid of the penny would be a very beneficial decision for America in the long
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.
In recent years the cost of pennies have risen to about 1.7 cents to produce one penny. The cost of producing one penny is nearly the worth of two pennies. In 2014 the United States lost nearly 130 million dollars by producing eight billion pennies which is an exorbitant amount of money.The last time Congress voted on whether or not to get rid of the penny the consensus was to keep it since the price to keep it was not very much over the worth of the coin. The non-sensible price of producing the penny is just one of the reasons the United states should abolish the penny. One of the main reason that the penny is so high in price is due to the main metal component of the penny which is zinc that has risen greatly in
There is definitely no purpose and meaning in continuing the creation of these worthless objects. All they do to the United States is cause trouble, and they are clearly a bothersome to uphold them in our possession since they barely contain any value. Our economy would be fit with just dimes, quarters, and nickels as our coins. Abraham Lincoln, who was the president represented in this penny, would disapprove having his reputation and honor shown in a futile currency. The government needs to stop producing pennies. They create a loss of money rather than a profit; therefore, these copper cents need to be gone from our economy. What other choice is available? What can these pennies do in order to redeem their glory? It is nearly impossible to convince residents to use pennies once again. The penny has lost its value, and their dignity has become faint to us. It is time to eliminate pennies–for
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
This meaningless coin is losing money to the mint, and should be abolished. The penny costs 1.4 cents to manufacture each time at the mint. This is causing the mint to lose money to the treasury. Last year, the mint earned $730 million in profit. Many mint officials claim the estimate will be about $45 million due to the cost of metals made in pennies.
Pennies worth in the peoples eyes, even if they might not realize it, has been diminished greatly. Although many people are not willing to admit it, “The majority of pennies don't circulate,'' said Philip N. Diehl, director of the mint. ''They make a one-way trip from us to penny jars, sock drawers, piggy banks and the spaces between couch cushions. Two-thirds of the pennies produced in the last 30 years have dropped out of circulation” (John Tierney). Due to the growing economy and market the with of the penny has become more and more impractical in our daily life. People talk about the “Good old days”, and how grand life was in their younger years. However things are doubtlessly changing, “You can't use it in a phone," Kolbe said. "You can't use it in a parking meter. You can't use it in a gumball machine” (ABC News). People might say they are needed based on the past involvement in the economy, but the truth is they have lost their value and worth for the American future. Looking at the growing economy it takes looking at a situation logically and continuing the penny is clearly not a logical investment despite sentimental