Americans want to keep their money. Crazy right? Why would they want that? There are those in government who would like to do just that, by making the penny obsolete. Americans do not want the penny to go away. According to a Harris Interactive Poll(R) conducted in 2006, almost two-thirds of Americans across all income groups are opposed to abolishing the penny. Earlier this year(2012), Canada took the final steps in phasing out their one-cent coin from circulation, and initiate a system of rounding to the nearest nickel in cash transactions. This will save Canada millions for the economy. Those same savings will not translate to the U.S. by removing the penny. There are a great deal of number crunching statistics out there, both for and against this issue. Though it is true it cost more to make a penny then it is worth, the nickel cost even more. There can only be speculation from experts on what will happen in the business world if the rounding methods were to be enforced. The fear of a “rounding tax”, where most transactions would be rounded up or price increases, is very real. Legislators say the penny has become a nuisance, but if you ask the poor they would have a different opinion. Charities also rely on the penny for easy donations. While there are those that would like to see the penny era end, there is still a majority that believe the penny should remain, for both economic and sentimental reasons.
The U.S. Mint seems to agree, as production doesn't look to be ending anytime soon. In 2012 the U.S. Mint produced and distributed over six billion pennies, up over one billion from 2011. The current cost to produce one penny is 2.41 cents. The current cost for one nickel is 11.18 cents, the only other coi...
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...ill not part with nickels so easily. From the teachers and children raising money for homeless shelters and food banks, to larger organizations such as the Ronald McDonald house and the Leukemia & Lymphoma Society, penny donations are truly valuable.
So will we explaining to future generations the meaning behind phrases such as “my two cents”, “see a penny, pick it up...” and “cost a pretty penny?” The debate rages on, as do most issues at the higher levels of government. Lobbyists are geared up on both sides, and you can bet more money will be spent – and ironically over the smallest denomination of our money. Some legislators amy see this bad penny turn up for quite some time. Is is really such nuisance when you consider the savings and charitable benefits? I have a penny for your thoughts, despite how small a penny saved is a penny earned, it's just a fact.
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.
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
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
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.
If you check your pockets, how many of you have pennies in them? Not many people I assume, that is because most people don't carry around pennies anymore. Denver Nicks from Time.com says
In the article “I Need a Dollar: Should you give to the New York 's Homeless?”, published on Gawker.com on July 28, 2014, Paul Cantor argues the issue of whether or not you should give money to a panhandler. Like Cantor, I have been approached several times by people asking for money. Often times I wondered, "how did you end up in this situation?” More often than not I find myself leaning towards the negative connotation; that it is their fault they’re in these circumstances. However, I generally feel that I can spare a buck or two. Cantor suggests "maybe nine out of every ten panhandlers are lying." Even if every dollar you hand out goes to something it shouldn 't, what is it really hurting? I agree with Cantor. Americans spend hundreds and hundreds of dollars a year on coffee
One of the main reasons that make people believe we should keep pennies is the fact that it will cause rounding tax. Mark weller claims that “Rounding tax” will cost consumers $600+ million dollars per year. However at the same time keeping the penny is costing businesses $700+ million dollars and they are wasting this money by paying cashiers to count pennies. This has been proven in multiple studies. During one study it had been shown that if the retail clerks and customer spend just 2.5 seconds per transaction counting pennies, those seconds add up to an estimated $700 Million dollars that the business has to pay its workers to count pennies. This is ridiculous! Why should businesses have to pay that much money if people cost their workers time. If you think about it you will see that all of this could be prevented by having the U.S stop producing and distributing
Penny Marshall has directed six films in her career: "The Preachers Wife"(1996), "Renaissance Man"(1994), "A League of Their Own"(1992), "Awakenings"(1990), "Big"(1998), and "Jumpin' Jack Flash"(1986). We know Penny best from her stint in Laverne and Shirley (1976-1983) as the hilarious Laverne De Fazio. After the series was cancelled Laverne appeared in some pictures until her directorial debut in "Jumpin' Jack Flash". This film was pretty much a bomb and Penny gained credibility as a director in "Big". Tom Hanks received a nomination for Best Actor in this picture.
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.
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.
By many aspects the one dollar note will just be a symbol of America and the American wealth, however we will see that it can convey way more than that. First and foremost, the one dollar note, is something judged to be common knowledge, everybody can approximately see what it looks like and they will not look in depth of what can be one of the most symbolic items of the United States of America. First printed in 1863, the dollar note was here to represent an abstract, yet know by everyone, money. Before then, coins were just the symbolic way of representing money.
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.
Irving Penn has always strived for the best presentation of his work, he has become a master printer, revitalizing the platinum-palladium process as well as working with new techniques. The combination of innovative photography and meticulous printing has made Irving Penn one of the most significant photographers of the twentieth century.
First, in order to function properly, countries have to follow rules to avoid deflation or inflation. However, if a country wanted to, they could easily deflate or inflate their economy by breaking said rules. The second major flaw of the gold standard is that there is not enough gold in the world to serve as money anymore because there is too much money in circulation. The process of mining gold is dangerous, expensive and difficult as it is hard to find. The process of printing dollar bills is quick, easy and cheap. Why go through the effort to mine more gold when the fiat system has arguably done just as well? The choice is clear, the gold standard has been replaced by a new, better standard – the fiat