The Penny The penny, the first coin minted in the United States, was obviated by inflation before most members of today's work force were born. Its production cost is more than half again as much as its face value. Its detractors include respected economists, forward-looking realists, and coastal cosmopolitans; its supporters consist largely of sentimentalists, hoarders, the zinc lobby, and the dwindling number of women named Penelope.The United states should stop using the penny because they are not worth much, they are always found laying around, and they are only 1% of a dollar that can’t get you anywhere. One reason why they should stop using the penny is because it is not worth much at all. In this document Tim states that,”In a lengthy 2008 New Yorker piece about a visit to the U.S. Mint, David Owen declares, "A modern penny simply isn't worth enough to worry about." (Cavanaugh). This is important because it lets you know that the penny is not worth enough to get anybody anything. It is also important because …show more content…
Even though it is money it is not enough for anything and it just takes up space we need. According to the document “Penny reign: America’s least valuable coin endures”,”the Treasury loses money by supplying banks with pennies and nickels.”(Cavanaugh). This is an important quote because it tells people that by keeping the penny treasury’s lose money. So they obviously agree with the fact that the penny should not be used in the United states any more. For example, according to the document “Penny reign: America’s least valuable coin endures”,”While the U.S. monetary base doubled in 2009, the mint actually produced fewer pennies than usual.And consumers in 2009 enjoyed brief moments of across-the-board deflation.”(Cavanaugh). This quote is important because it gives proof that some people enjoyed the penny
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.
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
Replacing Jackson from the twenty dollar bill could only benefit America 's image problem. Acknowledging the injustices of history, America would reflect intolerance for hypocrisy, and a progress from the past. The replacement would show that America promotes power in both morality and justice.
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.
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
Have you ever been in a store and the person in front of the line is holding the line up by having the cashier count pennies. I have been in this situation many times and it gets really frustrating. Although there is a very simple solution to this issue that has occured to many people, and many times, all over the country. And the simple solution that I will bring up today is getting rid of the penny. There are many, many reasons to get rid of the penny and all of them would help the United States of America in the long run. The first reason is that pennies are just not worth it. The second reason is that getting rid of pennies would help the prices go down. The last reason that proves getting rid of the penny would help us is that many other
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.
The introduction of the book “Nickel and Dimed” by Barbara Ehrenreich, it talks about where Barbara and the editor, Lewis Lapham discovered the idea of this book. The two were having a lunch at an expensive restaurant and Ehrenreich concern was how people with low job skilled are able to make living with small income. Her primary concerned was towards women who are about to be on job hunt because of the reformation of the government welfare. Ehrenreich stated that she could not see herself going through this. She even mentioned how her fellow college student were seeking for jobs in the 1960s just to be part of the working class, and even some family were surviving off low wages however she was never interested doing them tasks. Since she has Ph.D. in biology, Ehrenreich established a scientific approach to create some limitations while going undercover as an unwell educated, divorce, and a lower person of who she really is. She going
In today's century pennies has no purchasing power,pennies are useless and should be abolished.Pennies are not worth the same amount as they did before. Pennies are made out of copper,but if we use the copper for a more valuable coin that could be utilized,states will get rich and have a beneficial in the economy."Arizona is rich in copper...bigger percantage of the large-denomination coins that might be more heavily used it the penny were discontinue."(Source A) If pennies would be "discountinue" the states that have copper would make coins that are in use and beneficial for the people.For example, quarters,dimes,and nickels are worth more than a penny and are in use and acceptable in stores or even vending machines.Making,"A system under which cash transactions would be rounded up and down"(Source A) would be an advantage for the United States.This is a system that would help the stores by not wasting time counting pennies.When,"replacing paper dollars with long-lasting $1 coins"(Source A) would benifit the economy by making dollar coins which will be more beneficial than an ordinary penny.
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
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.
Adam Smith wrote in his masterpiece, the wealth of nations, “It is the necessary, though very slow and gradual consequence of a certain propensity in human nature which has in view no such extensive utility; the propensity to truck, barter, and exchange one thing for another” (Smith, 2005). This propensity in human nature led to the development of currency – a medium of exchange accepted by a community of people. For centuries, gold and silver were used around the world as currency; in 1834 the United States, formerly on a bimetallic standard, converted to a gold de facto standard. This policy made it so the dollar was backed by gold at a ratio of $20.67 per ounce. The Gold standard was used until August 15, 1971 when President Richard Nixon
Can a person’s worth be measured? Every person’s value or purpose in life is quantifiable by the economic worth of each individual. Those who are a burden to society by not being able to reach financial balance and must rely on others to provide and therefore are seen as dispensable. This is book argues that human life has no worth and we are only valued for what we can provide for those around us. Thus, those who can provide more to those around us are more successful in life. Within the book The Unit, a single person’s purpose and value in life is quantifiable to the economic worth of every other individual.