Because some people with low income might be affected.
We can't use the nickle that much because it costs 10 cents.
I have asked some people and most of them think we should keep it.
Tax is going to be much more so I think we should keep the peony.
The value of the U.S. Penny has been dropping for years. In 2006, it began to cost more than a penny to make a penny. It now costs 2¢ to produce a 1¢ coin. Many countries have stopped using pennies. Canada, which has a currency similar to that of the U.S., ended penny circulation on February 4. Is it time for the U.S. To do the same?
If the U.S. Got rid of the penny, cash transactions would be rounded up or down to the nearest nickel. However, the nickel has it's problems, too: it costs more than 10¢ to make a nickel. Some argue we would be trading in one bad coin for another. Other experts say that the U.S. Should get rid of both the penny and the nickel, and round up to the nearest dime.
A 2012 poll shows that 67% of Americans want to keep the penny. Many people polled said they feared they would end up paying more for products. Experts point to the dozens of countries that have gotten rid of their lowest-value coins without raising prices for consumers. Read more about the penny problem in the February 8, 2013 issue of TIME FOR KIDS. Then, vote in our poll below.
We need the penny because products in local stores cost would increase largely, and with how bad our economy is right now, it's just not a safe idea right now, it would just increase the stress on american citizens. And just for little reasons like if something cost $1.58, what are you going to do now? KEEP THE PENNY!
We should keep the penny! I believe this because...
1. Prices will increase
if we get rid of the penny, store owners, and merchants will have to round UP to the nickel, forcing the buyer to pay MORE! And trust me it all adds up.
2. Charities need pennies
where would penny charities be without pennies? The answer is: not where they are today, that is for sure! Just think, the pennies you find in jars, under the couch, and every where are now useless. You cant use them to donate!
3. Parents and allowances
my parents used to give me money in pennies when I was a young child. Pennies help children learn about money, counting ,and math.
The penny is worth exactly $0.01 at face value, but the copper and zinc used to make the coin are worth more than the actual face value. Because of this, it makes sense to get rid of the coin and require prices to end in a valuable divisible by 5.
Yes we should keep the penny. Why? Because if we don't then all prices will go up. Gas will even go up. Who wants that? Even though it cost more to make the penny than it is worth, we should still keep it. Stores will raise all their prices the nearest $0.05.
Having pennies will make everything way easier. First of all, if we stop making pennies then we would have to change a lot of the prices to a higher rate b/c we won't have the exact money and if we want change back, the change wont be exact. It's kind of a loose loose situation.
We should keep the penny because, without it, how would we have proper change at stores. Also, we could save certain pennys and get money for them so that they would be worth much more than one cent. Pennies need to be pesent so that epople would have the proper amount of money that are owed to them.
We have to keep the penny or else we would have to pay more money and charities that depend on drives, might not be able to raise as much money if there are no pennies. Also, many Americans want to keep the penny and it's part of their culture. I say that we keep the pennies or you will regret it.
Other than than the money value, Americans also hold a strong sedimental value with the penny and it would be hard to give it up. We have had this for such a long time and it would almost be like breaking tradition if we got rid of it. KEEP THE PENNY!
I don't. And i don't know anyone else who does. if they cost more to make than they are worth, and nobody uses it, then it's just dead weight on the economy. If we stopped minting it, we could take the we money saved and do something good with it.
I think we should get rid of the penny. Other countries have done it and showed that they were able to save millions of dollars afterwards. Let's be honest, our country could really use that extra couple millions right now. Nobody really likes to have change on them and this should happen quickly.
I don't think we should keep the penny because it cost more to make the penny than the penny is worth. The argument for that is that we will end up paying more as citizens because then everything will have to be rounded up, but I don't think that it will be a great difference. I also think since most people use credit cards, debit cards, and online tools to make purchases these days then it won't affect many people.
The penny cost 1.6 cents to make and the penny is just 1 cent! I bet you if Abraham Lincoln was alive today he would say why am I on this penny! Even our own Military stopped using the e penny! We are losing millions of dollars by making penny's and we are trillions of dollars in det already!
Each minted penny is worth $0.01. If we were to take $20.00 worth of pennies, we would have 2000 pennies. If we were to melt down these pennies, we would have $34.00 in zinc and copper. Think about it. If all of our millions of pennies were melted down, we would get thousands, perhaps millions of dollars that could be used to help our education system or to help support government-funded services.
If countries like Canada, Australia, New Zealand, and more can get rid of the penny, why can't America? Pennies don't even really work as currency: they cost 1.7 cents each to make and parking meters and vending machines don't even accept pennies because it isn't worth it. We would actually be saving the government lots of money, and giving back if we melted all the coins. It would be a good first step to getting the economy to be good. Don't give me that "prices will go up" junk. Prices will round to the nearest five cents, so sometimes you win and sometimes you lose, but in the end its a margin of 2 cents. Sentimentality? Cultural tradition? Culture has gotten rid of many things like big poofy dresses and original Apple computers. I think we can give up the penny for the greater good of America.
If other countries like Canada, Australia, New Zealand and more got rid of their penny without economic collapse, why can't America? Pennies don't even work as currency: they cost 1.7 cents to make and parking meters and vending machines don't even accept them. If we got rid of the penny and melted all of the pennies the government would actually save a ton of money. It might not fix America's economic situation but it would definitely be a good start. Don't give me that "prices will go up" junk. Prices will round to the nearest 5 cents, so sometimes you win and sometimes you lose but it's just pennies. Sentimentality? We have gotten rid of many, many things from the old world. Do you want to be using the first Apple computer? I didn't think so. Progress is good.
Its a wast of money , I personally only use the penny for wishing fountains , nothing else really , it takes up to 1.8 to 2.4 to make the penny because of the copper and the zinc they make it out of , like if its a part of history why don't people say " yea i'm up for getting rid of the penny" because in the future or something like that a may be worth a lot of money a penny from 1989 or something like that
i dont know but i do think its a wast of money
Not only will the materials go towards more important uses, but I believe prices will actually in fact go down since the government is spending less in the long run. Also how much do charities really make off the pennies compares to donations from wealthy philanthropist? I just feel like we need to have a more cost effective currency where the money being produced at least pays for its own cost which is why the penny needs to go maybe even worse is the nickel my next target on my currency hit list lol
Yes it should because pennys are a part of our history and we use them every day. Its also a sign of our nation because it has a nations great leader on it and the people who want to get rid of it its like getting rid of our great leader we once had.