The Instigator
TorqueDork
Pro (for)
Winning
12 Points
The Contender
Timelord48
Con (against)
Losing
3 Points

We should get rid of the penny

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Post Voting Period
The voting period for this debate has ended.
after 3 votes the winner is...
TorqueDork
Voting Style: Open Point System: 7 Point
Started: 12/8/2013 Category: Economics
Updated: 3 years ago Status: Post Voting Period
Viewed: 1,675 times Debate No: 41888
Debate Rounds (3)
Comments (3)
Votes (3)

 

TorqueDork

Pro

First Round- Acceptance
Second Round- Argument
Third Round- Rebuttals

Good luck opponent- have fun! I will be taking pro for this argument, I think wer should abolish pennies, con takes the point of view as if we shouldn't.
Timelord48

Con

Poll Shows Americans Concerned About Costly Price Rounding System If Penny Is Eliminated

Washington, DC - A poll released today by Americans for Common Cents shows overwhelming support for the penny by the American public. The vast majority of those surveyed favored keeping the penny in circulation, a sentiment heightened when people were made aware of the penny's charitable importance, and most expressed significant concerns about higher consumer prices if the penny is eliminated.

"These results confirm the strong and unwavering support the penny continues to receive from America." said Weller. "Americans understand that eliminating the penny would lead to a rounding process and cost them hundreds of millions of dollars in higher prices. Current and future generations of Americans deserve to live in a country where a penny saved truly is a penny earned."

The poll results showed that:

* Three out of four adults (73%) favor keeping the penny in circulation;
* A mere 12.6% agree the penny should be removed from circulation when people are told that millions of dollars in pennies are contributed to charities each year;
* 76% were concerned that if the government implements a rounding system for cash purchases, businesses might raise prices;
* 69% of Americans oppose eliminating the penny and establishing a price rounding system.

An analysis by Raymond Lombra, PhD, Professor of Economics at Penn State University confirms these concerns. He found that eliminating the penny would lead to a rounding of prices in America that he estimates would cost consumers more than $600 million every year.

Polling results over the last eight years demonstrate the widespread support the penny enjoys with the public. Opinion Research polls in 1995 and 1996 found 73% and 76% of Americans, respectively, support the penny. A 1992 CNN/Time survey and a 1990 Gallup poll produced similar favorable results.

"Keeping the penny in circulation will avoid an inflationary rounding process and is what the American people want," said Weller. "It's just common cents."

Americans for Common Cents is a broad-based coalition of business and charitable organizations dedicated to keeping the penny. The coalition was formed in 1990 in response to Congressional threats to eliminate the one-cent coin. Opinion Research Corporation International of Princeton, New Jersey, surveyed a national sample of 1,009 adults, comprised of 507 men and 502 women by phone. The margin of sampling error is +3%.
<http://www.pennies.org...;
Debate Round No. 1
TorqueDork

Pro

If you check the link you literally just copy and pasted it...and also first round is acceptance. Sorry if this comes off as rude, but in all honesty I doubt you know much about this topic as you just copy and pasted it. Thanks for accepting my debate though! Also welcome to debate.org (oh and just to clarify by we I mean the US)

I will state my arguments for keeping the penny.

Argument 1- It costs more to make a penny then it is worth [1]
It costs 2.41 cents to make one penny, and approx. 7.4 billion pennies are made each year [2], so do the math and we are wasting over 10360000000 pennies a year, or 103600000 (over 100 million), dollars a year on pennies alone. This is money that could be spent much more effectively, like on public schools! (Another source I found said pennies cost 1.7 cents to produce, which would still equal to over 50 million dollars lost)


Argument 2- We already went along fine without something worth one cent [3]
According to popular youtuber Hank Green "..in 1972 a penny was worth what a nickel is worth today, and yet in 1972 the economy managed to function just fine without a coin that was worth 1/5th of a penny." It has worked before, it will work again.


Argument 3- They are useless
Money could easily be rounded to the nearest fifth, and are simply not worth the time and effort to take out and fiddle with exact change

[1]http://www.usmint.gov... (at the bottom of the page)
[2]http://coins.about.com...
[3]
Timelord48

Con

Timelord48 forfeited this round.
Debate Round No. 2
TorqueDork

Pro

I hope you vote fro me because my opponent plagarised and forfeited, I also hope you learned something from this debate.
Timelord48

Con

Timelord48 forfeited this round.
Debate Round No. 3
3 comments have been posted on this debate. Showing 1 through 3 records.
Posted by toamatt26 3 years ago
toamatt26
Is this a joke? Anyway if it isn't con could state that the opponent didn't define a reasonable resolution because by "we" there could be many different possibilities
Posted by dunc22 3 years ago
dunc22
Canada has gotten rid of their penny didn"t really make any noticeable difference to the average joe, but probably did some good on a larger scale
Posted by YoungTurtleBear 3 years ago
YoungTurtleBear
Timelord48... You can't follow directions...
Round 1 is acceptance....
3 votes have been placed for this debate. Showing 1 through 3 records.
Vote Placed by RoyLatham 3 years ago
RoyLatham
TorqueDorkTimelord48Tied
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Total points awarded:40 
Reasons for voting decision: Con forfeited without answering Pro's arguments.
Vote Placed by KingDebater 3 years ago
KingDebater
TorqueDorkTimelord48Tied
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Total points awarded:13 
Reasons for voting decision: Pro forfeited, but Con had better arguments
Vote Placed by dtaylor971 3 years ago
dtaylor971
TorqueDorkTimelord48Tied
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Total points awarded:70 
Reasons for voting decision: Even with only one round of arguments, pro made me think, and changed what I agree with to a "tie." Anyway, due to plagiarism and forfeiting, PRO wins all of the arguments.