We should get rid of pennies because pennies are worthless, they only cost 1 cent. I think we should get rid of pennies because it cost more to make a penny than what it is worth, It cost 2 cents to make a penny and a penny is 1 cents. No more pennies because people throw pennies on the ground and that is bad for the environment because they are littering. Pennies are worthless. When a kid see a wishing well they would ask for money and their parents would give them a penny because they're not that important. Pennys are a waste to the world
Waste of money and fuel. To make 5 pennies is 2.40 dollars; to make a nickel it is 2.20. And the mint makes 20.27 million pennies a day. That concludes that it is a waste of time. Why waste your time on making pennies when you could be making dollars and other stuff more important than the penny?
It costs 1.7 cents to make a penny yet it is only worth 1 cent . This adds up to about 70 million a year in tax payer money to afford to make pennies for a year. Use common sense and get rid of the one cent piece and maybe we could start to draw back this debt we have built up.
Firstly, I'd like to begin with costs.
The US penny costs roughly over 2 cents to make-that's double the amount the coin is worth.
If you were to couple that with the lack of pennies in circulation (thus causing more manufacturing), that can lead to a large worth of taxpayers' money being spent.
Money that can be used to pay other causes, like jobs, or restorations.
Secondly, I'd like to address some objecting arguments.
"Charities will suffer if the penny is removed!"
Now first of all, people donate their pennies not usually because they care-it's because they don't want it in their lives anymore.
When it comes to charity, you think of people who care for the cause donate.
If that were to be applied, then people would have no problem putting in a ten-dollar bill rather than a jar of pennies.
"If the coin were to be removed, prices will go up."
This annoys me in a large way, this just shows how people can't think things through sometimes.
Other than that, prices can also be rounded down.
Of course, there are some businesses that will round up-but who would buy from that? It's a dumb business move, especially if there's a rival business in hand.
"The penny is an American symbol."
This is a worthy argument to battle, as it really is an important symbol.
...If you think that way, of course.
This argument is going to be put forward as opinion-as-fact if I tread forward, so I'll stop here for this one.
"People will lose money if the penny is removed."
If the businesses were to be constantly rounding up, the average American will lose $18.25 annually against the other timeline keeping their pennies.
That's minuscule compared to the $100 million lost to the US treasury.
I'm sure that if Lincoln were still alive today he'd fully support the removal of a coin that takes away from America's budget. It seems ridiculous that we're obsessed with the idea that Lincoln is a part of our history, only because we have the penny. We have plenty of records of Lincoln, he won't be forgotten.
The penny is not worth the money to make it. It costs US tax payers too much money to make it and therefore should be done away with. In addition more pennies are thrown away each year than are spent. The US government has a lot more things to waste money on than this archaic piece of useless money.
The penny should not exist any more because it costs (0.02) cents to make the penny. What's the point if its only 1 cent? Prices are going to be rounded to the nickel but its only 4 cents less. It doesn't really matter if the prices at the stores are rounded to the nickel. Pennies are good for people in need or children in need, but we can start doing that with nickels.
I know that the penny has a president on it.But it is not worth a lot. We have to pay a lot of money for it and why can't you help the U.S. by saving money. You can lose the penny very easily we can try to put the president on another coin like the nickel and we can have our 2 favorite presidents on the same coin. You can't pay for anything with only one penny. So the U.S. I think it is time to get rid of the penny.Thank you for reading!
The US should stop because the penny isn't worth much and in fact, it takes more money to make a penny (1.7 cents) than the penny is even worth. Now is that right? To me it isn't, because why have a penny that's not worth much cost more? That wouldn't be right. I think they should get rid of the penny.
1- No... people will not lose money because the prices are rounded. Rounding will work in people's favor from time to time since some prices would be rounded down like $1.42 which would be rounded to $1.40. If the penny disappears from the economy no effect will be noticeable.
2- No... charities will not be affected. Other countries eliminated the penny and show evidence of charities not having an important change in donations...
3- if you want to teach your kids how to manage money do it with nickels or fake money.
4-Heritage?.... NOPE.... the penny is worthless. Abraham Lincoln will always be remembered by the US people. We shall never forget what he did. He is already in the 5 dollar bill. What does this mean? Penny= zero sentimental value.
5-pennies cost 2.4 cents to do.... the government throws away billions of dollars every year just to keep it on circulation.
6-it is not easy to pay stuff with pennies. Pennies are the most useless thing ever. No machine will accept it and it is extremely uncomfortable to pay stuff with them, therefore it does not accomplish the one thing it was created for, the exchange of goods and services.
7-believe it or not, people will save time at the grocery store.
8-inflation will slowly keep aggravating the problem. the penny is being EVEN MORE WORTHLESS every year.
9-even if the government makes the composition of the penny more cheap it would not solve the problem that the penny is simply worthless as a medium of exchange of goods and services.
10-the US has already gotten rid of even more worthless coins and nothing happened. Yes, the US used to have a half-cent coin.
11-the process of getting rid of the penny will cause money losses to no one. Trust me on that one.
12-Pennies are worth less than nothing.
13-Obama (kind of) supports the idea of getting rid of the pennies. It is the correct time for this to happen.
14- would you pick up a dirty penny laying on the floor? I highly doubt it.
15-you pay taxes every year for pennies to stay alive. Seriously?
Although a penny is pretty much worthless on its own, it would be impossible to give exact change without it. Pennies are necessary. If we got rid of the penny, we would need something else to replace it, which would be pointless.
For example, you buy a pack of baseball cards for $2.91, the average Joe would pay with three dollar bills. There is no possible way he couldn't get 4 pennies back in change. If there were no penny anymore, the price of that back of baseball cards would skyrocket to 3 bucks, a nine cent increase due to the government and economy of the dope Obama is in office, so even though it takes about two cents to make one cent, it is still better than the banishment of the penny.
Pennies are an American tradition. Everybody loves throwing a penny into a fountain or a wishing well. Your kids will never know how that feels if they get rid of the penny. And who doesn't love a bright shiny new penny?! Also, pennies are a way of honoring Abe Lincoln.
Banning the penny would affect the poor. According to About.Com, the poor use the penny to make more frequent, smaller purchases. If we get rid of the penny, the poor would have to suffer even more because of the lack of pennies. Mark Weller, executive director of ACC, argues that the nickel would be used more often if the penny is taken out of circulation. This would make the nickel become the least used coin, because a nickel is five cents. It is then possible that the nickel would be taken away because it is used less than the other coins. All around the U.S., polls have been taken about abolishing the penny. More people want to keep the penny than abolish it . If we abolish it, many people would be pretty unhappy and, possibly, boycott.
Nickels cost 11 cents to mint opposed to the 2.4 cents to mint a penny, not only will costs go up in products because of rounding to the nearest nickel; so will taxes aren't we taxed enough already, also the rounding will greatly affect the poor, and Lincoln is on the penny!- 'Nuff said!
I do not think we should get rid of the penny because it is valuable. Many people think that the penny is worth nothing but, if you keep the pennies you get over a lifetime they can add up to be a lot of money. A man even once paid off his mortgage with pennies! That is really cool. The last thing is that pennies can change some peoples lives because many people only donate pennies to charities and if they stopped making pennies people wouldn't donate to the homeless and the sick as often. Also if they get rid of pennies stores will have to round everything to a nickle and if you add that up it can be a lot of money. So now you can see that the penny is very valuable.
The penny represents our 16th President. The penny may seem worthless but it's not. If you were to go to the store and you had no pennies and you had to pay $15.61 cents you would most likely pay $15.65 cents. The saying "a penny saved is a penny earned" is very relevant to this day. Eliminating the penny would hurt customers. It is a good coin.
If you are getting rid of the penny you are basically throwing money away. People have been collecting pennies for a long time and all that time would have just been a waste of time. The penny has been around for a long time and money is money. You don't want to have to round to the nearest nickel and pay more. The penny is a great coin because one cent is better than no money.
The penny is useful in many ways, an example is that my house in my room I have a gumball machine and it is very helpful to have penny be accepted by the machine because I don't use the penny very much but it is helpful to have around.
Also the people who want to kill the penny basically want to get a rid of Abraham Lincoln. For heavens sake He was murdered watching one of the plays in town because they don't see very many plays in town.
It is also very helpful to have the penny around because when people pay with cash at the store or mall the machine or cashier adds it all up and it isn't divisible by 5 the machine or cashier has to give you pennies. So it help keep the prices down and also tax down. We don't want to waste more money because we got rid of a cent coin, do we I don't think so.
I think that it's so dumb when the US found out that Canada was getting rid of the penny and then now they want to get rid of it too. Pennies have been in generations and generations, getting rid of it is like getting rid of our heritage and culture.