The main reason for the deletion of the penny is cost. The Penny being worth one cent by itself costs around 1.5 cents to manufacture. This although small loss of money Can result in and will amount to the loss of millions of dollars over the course of several years.
Creating a penny today costs more than one cent. Therefore, the Government is losing money creating a form of currency which is trivial in amount and entirely unnecessary. Rounding to the nearest nickel is a future that has long been discussed, and it is bound to happen soon.
The penny is a waste. It costs large amounts of money to create, and is little help. Corporations should simply add however many cents to the usually 99 cents tax to round it up, making there no need for the penny but boosting the economy and saving people's wallet space.
Who uses pennies anymore anyways? It has absolutely no value. It costs more the make one than its actual value of one cent. I think it's extremely pointless to continue the production of pennies. People may say "we can give them to the homeless and charities." A few pennies won't do too much for someone living on the streets. The cheapest thing out there I can think of at the top of my head is maybe a glass of lemonade for a dime, but a penny won't buy you anything.
Handling pennies wastes everyone's time. The statistic of time spent per year on either handling pennies or waiting on someone handling pennies is 2.4 hr/yr. Which may not seem significant, except for the fact that people don't spend these anyway! They tend to either sit in some jar or are even thrown away.
They are only worth one cent each. There's no purpose of having any coin worth so little and goes to waste as most see it as useless. Look at how much copper we are wasting by making all the pennies. If the penny was eliminated, not only we would have more copper but we would save more money.
I have never paid for something with a penny. They are worth too little to fiddle around with when paying for something. That's why I usually pay to the nearest quarter. Even though some may argue that it would be disrespectful to Lincoln, don't forget, he's still got the $5 Bill!
The penny is practically useless. It costs more to make a penny than a penny is even worth. Nothing bad will come of it, except the government will save money.. So if you consider saving money to be a bad thing then I guess I have no argument. Prices would stay the same, and when paying with a card the exact amount will be charged. If you're paying with cash/change then you round to the nearest 5 cents. Easy.
I think the penny (as we know it) should be eliminated because all it is is a scrap of metal that only has worth because congress said so. The Federal Reserve as a whole is unjust because The government needs not to have a monopoly on money...Giving them an excuse to create fiat money during economic down times (Hello, inflation?!) I think all money should be privately printed...Or we could deal with a gold standard.
Even though i'm a thirteen year old and still use the penny to save up i think about my future a a citizen of this country and i think they should stop wasting the money they use to make the penny. They cost the government about .8 cents to make. They are made of scrap metal that is nearly worthless but congress had to put the worthless metal somewhere. The zinc can poison our beloved pets. And when someone donates a penny they are not really donating to charity they are just dropping useless coins into basically a trash bin in their minds. They don't even have to take the penny out of circulation they can just stop minting them. And i know you guys probably don't want to trust a thirteen year old ninth grader but check my spelling and my facts i know what i'm doing and i think that if the country stopped spending useful money on useless things.
Mat_22:17 Tell us therefore, What thinkest thou? Is it lawful to give tribute unto Caesar, or not?
Mat_22:21 They say unto him, Caesar's. Then saith he unto them, Render therefore unto Caesar the things which are Caesar's; and unto God the things that are God's.
Mar_12:14 And when they were come, they say unto him, Master, we know that thou art true, and carest for no man: for thou regardest not the person of men, but teachest the way of God in truth: Is it lawful to give tribute to Caesar, or not?
Mar_12:16 And they brought it. And he saith unto them, Whose is this image and superscription? And they said unto him, Caesar's.
Mar_12:17 And Jesus answering said unto them, Render to Caesar the things that are Caesar's, and to God the things that are God's. And they marvelled at him.
Luk_2:1 And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
Luk_3:1 Now in the fifteenth year of the reign of Tiberius Caesar, Pontius Pilate being governor of Judaea, and Herod being tetrarch of Galilee, and his brother Philip tetrarch of Ituraea and of the region of Trachonitis, and Lysanias the tetrarch of Abilene,
Luk_20:22 Is it lawful for us to give tribute unto Caesar, or no?
Luk_20:24 Shew me a penny. Whose image and superscription hath it? They answered and said, Caesar's.
Luk_20:25 And he said unto them, Render therefore unto Caesar the things which be Caesar's, and unto God the things which be God's.
It is such a good thing that we are making us not use. It is a very good coin to give to a charity. If you pick up a penny on the street a lot of times doesn't mean it is popular. Just because we don't pick it up on the street doesn't mean we need it. We learned from our parents, "Don't pick up things in the street!!!!!" To us, we like to take a few pennies and put them into a beggars hands. If prices are to be rounded, the store owners will obviously make prices higher for more money.
I can use it for change. For example, if you buy something that is $1.31 then you would need one penny for the one cent. You are also wasting millions of money. Eliminating the penny would be a waste of materials. The pennies that people already have will be worthless.
The penny should be kept. It has many factors that HELP our economy. Yes it dost cost more to make a penny than a penny is worth but its the same with the nickle. It cost 2x as much to make a nickle than a nickle is worth. If we lose the penny it only costs more to make twice as many nickles. It will just raise how much we have to pay for taxes. Who wants that? Not me.
We've been with the penny for a long time and removing it now will have a huge effect on spending. Government would now have to make more nickels. Prices will no longer be one cent short and would increase their goods. Eliminating pennies would also be dis honoring Abraham Lincoln. Therefore pennies should be kept.
Sure, it would make the government some dough to melt down pennies and it would save time with our wallets, but it would cost us more money in the long run. If we didn't have the penny, everything would rather be rounded up or down, so 99 cent items would turn into rather 95 cents, or a dollar. That's not much, but collectively we would lose a lot of money. Think about the consequences of be ridding the penny before you say yes.
The penny should be minted cheaper, similarly to how the half dollar changed from silver to a cheaper metal, reason being is getting rid of the penny opens the door to accepting inflation and monetary devaluement. Imagine 50 years into the future, a dollar most likely will be like the penny. Remember though, the last thing we need is more inflation, it's practically a secret tax.
I think the pennies should not be band because so many people have them and lot of them so once you band them thousands of dollars in pennies would be lost. Also the pennies is all Abe lincon has his face on and if we get rid of it then he would be lost to i think he did great things and deserves to stay!
Items prices would go up and you don't want to pay more for what you buy. Right? Money is valuable and you might think that one cent is not a lot of money, but over time the costs add up. We can't afford to lose the penny it is very important to us.
I bet you didn't know that the penny would be more than just 1 cent but if you really think about it which I know you would they would be more than just 1 cent I have a penny that is 355 years old and is worth about 1000 dollars $ $ $ $ $ $ $ $ $