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Should the penny be expelled from the US currency?

Asked by: Greematthew
  • Production cost matters.

    Last year a penny costs 2.41 cents to make. Http://www.Snopes.Com/business/money/pennycost.Asp
    Heck some U.S. Military bases overseas don't even use real coins, instead using thick paper pogs.

    We are also going increasingly digital with money.

    The penny has history, but it would not be the first discontinued coin. As the production cost of it slowly climbs higher, this will only become a larger issue.

  • It is no longer needed

    "If the penny was eliminated, the matter of prices would become very complicated. The first cent value above the now removed penny would be the nickel, worth five cents. This means all prices would have to reach a five cent point, making something like 3.52 impossible to price something at. Add always changing tax to that, and it is almost impossible to steadily keep prices going to a five cent mark. Pennies are more money to make than their worth, and are annoying to carry around, but it is almost impossible in this regard to not have a one cent coin."
    No, its very simple. Between 3.50 and 3.55 there are 3.51,3.52,3.53 and 3.54. 3.51 and 3.52 round down, while 3.53 and 3.54 round up. As for taxes, the difference in taxes for 2 cents is (at most) .03 cents. What's really costing the American tax payer is not the tiny difference (which is more or less zero when you consider it) in prices, but rather how much making a penny costs. I believe a penny today costs around 2 cents to make, which is insane when you think about it, especially when the price of objects are rising due to inflation which will eventually get rid of the penny and put it with all the other coins we have scrapped such as the half cent, two cent, three cent nickle, half a nickle, half a dime (nickel), five dollar coin , among others.

  • Too little of value

    We know today that everything cost more than it did fifty years ago. Costs of everything have risen due to inflation, devalued currency, and a swindling economy. Taking out the penny of the economy would have a beneficial impact and help us save money. It costs more to make than it is actually worth.

  • They're no longer needed

    As a Canadian, the penny is already gone in our country, and frankly nobody misses them. They just took up space in our wallets and made buying objects a lot more difficult. The penny made money matters a lot more complicated than they should have been. With the penny gone, prices have been more leveled out and adding up prices mentally has been easier. The penny is outdated and now is just a waste of space, time and materials.

  • Logic dictates yes

    Bring back the steel pennies! As long as they don't cost more than the penny is worth. Pennie's used to be made of solid copper. Then to save money in the 80s they switched to copper plated zinc pennies. Pennies did experience a brief time being made of steel during WW2. There's no reason we shouldn't bring the steel pennies back. Who even likes pennies after all? You can't use them in a parking meter or most vending machines which is the main use for coins anymore.

  • No one uses them!

    Pennies are pretty much worthless in my book. They equal 1 cent, but they cost more than that to make one. So what's the point? It takes 100 pennies to equal a dollar, but no one ends of saving hundreds of pennies, do they? They're a waste of space. The money the government spends to make pennies each year could be used for something much more useful.

  • Higher cost than value

    Making the penny costs more than the monetary value of the penny. It is overall a waste of money. If it was of a different material then maybe. But if an object costs over 1 cent but is worth 1 cent money is just lost in the process. It is a useless object of money.

  • Too difficult to price.

    If the penny was eliminated, the matter of prices would become very complicated. The first cent value above the now removed penny would be the nickel, worth five cents. This means all prices would have to reach a five cent point, making something like 3.52 impossible to price something at. Add always changing tax to that, and it is almost impossible to steadily keep prices going to a five cent mark. Pennies are more money to make than their worth, and are annoying to carry around, but it is almost impossible in this regard to not have a one cent coin.

  • Should the penny be expelled from the US currency?

    Illogical though it may seem, the penny helps to hold the value of currency stable. Without that base currency exchange, the nickle would be the base, meaning it is worth somewhere between 1-5 cents. Are we really comfortable with gas prices jumping by 5 cents/gallon regularly? I am not. Prices will not be set at $10 instead of $9.99, they will drop to $9.95, and the retail establishments will take yet another hit they cannot afford.

  • Should the penny be expelled from the US currency?

    Illogical though it may seem, the penny helps to hold the value of currency stable. Without that base currency exchange, the nickle would be the base, meaning it is worth somewhere between 1-5 cents. Are we really comfortable with gas prices jumping by 5 cents/gallon regularly? I am not. Prices will not be set at $10 instead of $9.99, they will drop to $9.95, and the retail establishments will take yet another hit they cannot afford.

  • Keep the penny☺☺☺☻♥

    We need to keep the penny. Without the penny stores, gas stations, airlines...Ect. Will be forced to move up to a nickel. Imagine getting gas and having to pay 4 more cents per gallon. It's not fair. And buying bags of chips also. Now stores would never lose 4 cents. That would be ubsurd! Also the penny has Abe Lincoln on it. It represents how great of a president he was. Anyway, thats why you should keep the penny.

  • Keep the Penny

    No, we should not get rid of the penny, at least not yet. Our monetary structure is built around a hundredths system, and eliminating the ability to fine tune prices would cause more trouble than it is worth.

    The main argument I generally hear for eliminating the penny is that it costs more to mint them than they are worth. While this is currently true (owing to the fluctuating cost of metals), it is irrelevant. If a penny was used once and discarded, this would be a valid argument, but these coins pass through thousands, if not millions of hands from the time they are minted until the time they fall out of circulation. Being used as one cent a million times more than makes up for the extra cost of minting them.


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