The Instigator
AppleAddict439
Pro (for)
The Contender
Caden335
Con (against)

The Penny Should Die.

Do you like this debate?NoYes+0
Add this debate to Google Add this debate to Delicious Add this debate to FaceBook Add this debate to Digg  
Debate Round Forfeited
AppleAddict439 has forfeited round #2.
Our system has not yet updated this debate. Please check back in a few minutes for more options.
Time Remaining
00days00hours00minutes00seconds
Voting Style: Open Point System: 7 Point
Started: 8/16/2017 Category: Economics
Updated: 5 months ago Status: Debating Period
Viewed: 408 times Debate No: 103565
Debate Rounds (3)
Comments (2)
Votes (0)

 

AppleAddict439

Pro

Hello. My name is AppleAddict439, and i thank the challenger for accepting this debate.
Let"s start in 1792, with the first U.S mint. Back then, pennies were made out 100% copper.
There was no zinc in the actual penny. But, the market changed. The value of copper went up, and, due to inflation, the value of the penny went down. After that, the penny became almost completely zinc.
Then, in 2006, the old pennies were found to have a value above 1 cent, so people began to melt them down to make a nice, tidy profit. Then Congress decided that pennies were actually worth something (they"re not) and passed a law against melting U.S currency.

So, let me get to the data. Math time! Each second, the U.S mint produces 1,040
pennies a second, 30 million pennies a day, and (as of 2016) produce 13,000,000,000 pennies each year. 13,000,000,000!!! But, for each cent we make, we lose a little bit of money due to the fact it takes (as of 2016) 1.5 cents to make 1 cent. Now, you may be thinking:
"Wow. really makes a difference. 0.5 cents lost for each penny. That"s so much."
Actually, if you thought that, you are partly right. It is so much. After 13 billion pennies were made this year, with 0.5 cents lost for each penny, that means that in 2016 we lost 6,500,000,000 dollars to the penny making franchise. Now, we could be using that money to fix U.S debt and the U.S deficit,
but no. We have to make pennies.

Pennies are bad for us and bad for the U.S economy because:

Say you want to pay for a 20$ toy. That"s 2000 pennies you have to carry around"

Pennies add, on average, 2.2 seconds to each cash transaction, which causes a 1 billion dollar loss in money each year due to productivity costs.

If you want to spend your precious pennies, it will be hard. For example, vending machines, laundromats, tollbooths, parking meters, newspaper machines, or telescopes.

Pennies, essentially are DEAD WEIGHT in cash transactions.
So, there are probably the penny diehards who are listening to me reading this that are thinking:

But" It"s never been done before! We"ve never removed the penny, nor have others!"

Well, that"s wrong. New Zealand, Finland, Australia, the Netherlands and Canada have removed their one cent coins or pennies. They now round to the nearest 5 cent.
But- others say-we"ll remove Lincoln! That would be oh no: UNPATRIOTIC. Well, Lincoln is still on the 5 dollar bill, and- get this: some military bases round to the nearest 5 cent.
To put it simply in the words of CGP Gray: Pennies waste money, waste time, are a money fail, and are worth less and less each year due to inflation.
And that's it. I Look forward to the next round.
Caden335

Con

Hah hah, good job Ether. I forfeit
Debate Round No. 1
This round has not been posted yet.
This round has not been posted yet.
Debate Round No. 2
This round has not been posted yet.
This round has not been posted yet.
Debate Round No. 3
2 comments have been posted on this debate. Showing 1 through 2 records.
Posted by AppleAddict439 5 months ago
AppleAddict439
Thanks, but no thanks. I don't want your compliments.

Put that tinfoil back on your head and leave please.
Posted by Purushadasa 5 months ago
Purushadasa
Agreed -- no objections here.
This debate has 2 more rounds before the voting begins. If you want to receive email updates for this debate, click the Add to My Favorites link at the top of the page.