Penny Pros And Cons

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Trying to get the exact amount of change for a cup of water at McDonalds, What is the most common thing you use for that? Pennies. Pennies are one of the longest running pieces of American currency in history. They serve as 1/100th of a dollar and are commonly used to pay off sales tax on items you buy at stores. This essay is going to inform you the pros and cons if the United States were to exterminate the penny, and stop the manufacturing. The penny is widely loved in the community, the penny is useful in some situations, but can be a pain in others. The penny is worth 1¢, the penny is made up of Zinc, it costs exactly 1.66¢ to manufacture 1 penny. This is already reason enough to stop the penny from being produced, except for the fact …show more content…

How are you going to pay for the other 4¢ without being overcharged? This works both ways, if it was 6¢ you would be undercharged. This wouldn’t work unless all items that are sold are rounded to the nearest 5th; and it would take far too long for the penny to be decommissioned, there are 2 billion to 2.5 billion dollars worth of pennies in the world (John, Yahoo Answers).

However, if we keep the penny, the US might slowly lose money, here's why. Because of the price to make the penny, every year we lose 46 Million dollars(Irina, CBS). If we continue at this pace for many years to come, we will lose hundreds of millions or even billions of dollars. With the recent conflicts with foreign countries, this can be a problem, if we get rid of the penny. We can focus the funding of that money onto the war efforts against our enemies. In the government’s eyes 46 Million dollars doesn’t seem like a lot compared to what they earn and what they have; but if we were to compare that to other countries we have a lot more money to do with ourselves, and could have even more if we stop and forget about the penny. There are a few other options like, changing the material of what the penny is made out of. Or we can change the value or characteristic of the penny completely. This is a hard decision for america considering how long the penny has been part

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