The Instigator
SofaKitchen
Con (against)
Losing
0 Points
The Contender
bat9581
Pro (for)
Winning
3 Points

Should the penny be kept in US currency

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Post Voting Period
The voting period for this debate has ended.
after 1 vote the winner is...
bat9581
Voting Style: Open Point System: 7 Point
Started: 1/23/2015 Category: Economics
Updated: 2 years ago Status: Post Voting Period
Viewed: 602 times Debate No: 68833
Debate Rounds (3)
Comments (1)
Votes (1)

 

SofaKitchen

Con

The penny may have sounded like a good idea when It was invented, but except for certain transactions of "$22.01" it isn't necessary. The penny costs more than it is worth to make! Sure, it would cause a ripple in the world of money, but we can get over that!
bat9581

Pro

Believe it or not, the nickel costs more than it is worth to make too. If you think you're on to something, we'll be increasing our currency by 10x, which usually leads to economical fails. As most people know, a failing economy is not a good sign, and we could be minting trillion dollar bills before we know it!
Debate Round No. 1
SofaKitchen

Con

The removal of the penny will cause an economic breakdown, sure. But so have many other things- and we got over it. The penny is soon going to be obselete, along with most other coins and even bills. Technology is growing by the minute. Credit cards are a more efficient way of payment, as compared to it.
bat9581

Pro

Many economic breakdowns have resulted in the collapse of countries. My opponent clearly said we could get over it however may I argue that the Soviet Union, one of the two superpowers in the world at that time, experienced an economic collapse. This crisis was one of the key factors to the fall of the Soviet Union and the rise of Russia. Next comes lack of military. Any "ripple in the world of money" can cause a serious impact on the military. As I speak the US is in war with ISIL, and having an economic crisis will not benefit us as all.
The penny also should not be taken from the US currency because, as you said, we might have to resort to credit cards, but remember this. Many shops don't accept credit cards, the shops will experience a downfall in what they can do, and many places will go out of business, causing more and more to do the same.
Debate Round No. 2
SofaKitchen

Con

Let me make this clear. I said an economic breakdown HERE, meaning the U.S. The US is much more capable of recovering from a breakdown than the Soviet Union.

Back on topic, my closing argument is that the penny is outdated. The time has come for it to be removed, naturally or by force. New forms of currency, like the $2 bill are becoming more and more widespread. A penny is just something that you throw on the ground, forget about. The making of the penny should be stopped, although to prevent an economic breakdown it should remain as a legitimate form of payment, usin the penny's already in circulation of the U.S.
bat9581

Pro

If we take away the penny (and the nickel), we will be back at 1947. This was shortly after the Great Depression ended, and if we don't have smaller coins (the lack of small coins prevented us from getting out of this terrible event), a whole new Great Depression could appear. That's not just a ripple, that is throwing us seventy years behind the rest of the world, and it will be difficult to get out of that. We may have to devote to rounding.
$2 bills are to $20 bills, as $1 bills are to $10 bills, same with $5 to $50, and $10 to $100. The two dollar bill helps our economy as much as a twenty dollar bill, which is why we are coming towards it. The two dollar bill will boost, and all taking away the penny can do is throw us behind the rest of the world. This will cause our taxes to be lowered, which means less money on international relationships, which means, debt that can't be paid off, lack of military. These things will make the US vulnerable to the outside forces.
Good luck!
Debate Round No. 3
1 comment has been posted on this debate.
Posted by bat9581 2 years ago
bat9581
Vote for me! :D
1 votes has been placed for this debate.
Vote Placed by gannon260 2 years ago
gannon260
SofaKitchenbat9581Tied
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Total points awarded:03 
Reasons for voting decision: pro made a better argument that con didn't refute.