Essay On Getting Rid Of Pennies

541 Words2 Pages
bulb-icon

Recommended: Essays about pennies

Pennies have been around for hundreds of years, making it hard for us to imagine a life without them. We use them when we go to the store, find them in between the couch cushions, and put them in our piggy bank whenever we are trying to save up for something we want. Pennies are in our everyday lives, and getting rid of them would change so much. The U.S should not get rid of the penny because it will round everything up to a nickel, it will cost even more money to make a nickel, and it would cause difficulties to charities around the world.
If pennies are vanished, everything will be priced higher. Since pennies will be gone, everything that ends in an uneven number like $9.99 will have to be rounded up to a higher number, which will make us pay more for the same products. Therefore, everything will be rounded up to the nickel. Merchants will probably round everything up in their favor, costing us more for everything we buy (Headley 3). Since merchants will raise the prices of their products, that means that we will be wasting even more …show more content…

Pennies costs 1.26 cents to make, that means that the U.S mint loses about .26 of a sent every time they make a penny, leaving them with an incredible amount of money lost for coins that most people take for granted. Nickels cost 7.7 cents to make, (2.7 cents over face value, as opposed to 0.26 cents over face value to make a penny,) so making each nickel costs 1.44 cents more than making each penny (Headley 3). The thing is that getting rid of pennies will lead the U.S to make more nickels, hurting their economy even more since they would be paying more for each nickel than they did for each penny. Now, instead of only increasing the price of our products, they will also be losing a lot of money for the production of nickels which would end up negatively affecting the lives of consumers and the U.S Mint as

Show More
Related

  • Persuasive Essay Abolish The Penny

    817 Words  | 2 Pages

    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.

    Read More

  • 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

  • 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

  • Should Pennies Be Eliminated Essay

    774 Words  | 2 Pages

    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.

    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

  • Importance Of Keeping The Penny

    756 Words  | 2 Pages

    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.

    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

  • Persuasive Essay On Nickel And Dimed

    1019 Words  | 3 Pages

    Millions of Americans work full-time, day in and day out, making near and sometimes just minimum wage. In 1998, Barbara Ehrenreich decided to join them in part by the welfare claim, which promises that any job equals a better life. Barbara wondered how anyone can survive, let alone prosper, on $6-$7 an hour. Barbara moved from Florida to Maine to Minnesota, working in the cheapest lodgings available and accepting work as a waitress, hotel maid, house cleaner, nursing home aide, and Wal-Mart salesperson. She soon realizes that even the lowliest occupations require exhausting mental and physical efforts and in most cases more than one job was needed to make ends meet. Nickel and Dimed reveals low-wage America in all of its glory, consisting of

    Read More

  • A Penny and Its Real Value to Society

    523 Words  | 2 Pages

    Many of Americans view the every day penny as only one cent that carries only little to no value, which is why they wind-up stashed away at the back of drawers. What most people don’t have a clue is the value it once held back in the days where a can of coke was about one cent. Our very own citizens who once fought battles and came home scarred knew that the penny wasn’t just one cent, it was the blood shed, their fallen brothers, and the never ending tears that symbolized one single Lincoln. Pennies are worth more than their currency, they are the history of our home and the beginning of where we stand today.

    Read More

  • Penny Synthesis Essay

    543 Words  | 2 Pages

    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.

    Read More

  • Essay On Eliminate The Penny

    627 Words  | 2 Pages

    Many people agree that the penny should no longer be preserved in the United States. The penny has an substantial role in American history but it is time for it to be gone. The penny has too small of a value to keep anymore or to use to pay for something. People also do not really care for losing a penny because they are negligible and worth very little. By eliminating the penny from the United States it will save time and money.

    Read More

  • Argumentative Essay-Should The Penny Be Eliminated?

    1296 Words  | 3 Pages

    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

    Read More

  • Why The Penny Should Die Essay

    1105 Words  | 3 Pages

    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

    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

  • Essay On Exchange Rate Of Dollars

    670 Words  | 2 Pages

    Daily in the USA about 38 million banknotes of various face value for total amount about 541 million dollars are issued (Facts about USA money).Dollars involve deep consequences both for the USA, and for other countries. Increase of its course relatively reduces the volume of export revenue in dollars, quite often involves more considerable, than change of an exchange rate, falling of the world prices, especially on raw materials. On the contrary, decrease in a dollar rate serves as the powerful tool promoting growth of the American export and a pushing off of competitors of the USA in foreign markets. At the same time import to the USA owing to effect of a rise in prices restrains. Thus, for the USA changes in the exchange rate of dollar anyway bring benefits and advantages.Reduction of leading positions of the USA in world economy is assisted by the international role of dollar which remains the main reserve and settlement means in world monetary system. Foreign currency reserves of the central banks of other countries for 61% consist of dollars, nearly 2/3 calculations in world trade are carried out in dollars; the dollar serves as a measure of value of many important goods (for example: oil) in the world market; in dollars 3/4 international bank crediting is made (Aleksandr Popov). Changes in the exchange rate of dollar involve deep consequences both for the USA, and for other countries. Increase of its course relatively reduces the volume of export revenue in dollars, quite often involves more considerable, than change of an exchange rate, falling of the world prices, especially on raw materials. On the contrary, decrease in a dollar rate serves as the powerful tool promoting growth of the American export and a pushing off...

    Read More

More about Essay On Getting Rid Of Pennies

Open Document