Pennies Argumentative Essay

Pennies may have been practical several years ago; however, now they are inconvenient and obsolete. As an American citizen who pays with U.S. currency almost every day and almost every day, inconvenienced by the use of pennies. Pennies make even less sense provided the fact that the United States Government has made such a large amount of pennies that the materials used to make pennies are worth more than a penny itself. Other countries have already done this and it is working out well for them, therefore, there is not a reason that the same could happen to America. There would be no financial repercussion for the consumers or the business. The penny has become unnecessary and the government should no longer perceive them as currency.
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This assumption makes sense, if the benefit of the extra cents at the end of a transaction goes to a business, that could add up to a large amount of money that the consumers are deprived of, however, if the added benefit goes to the consumer, then American businesses would take the financial hit. Refuting this argument is a study done by Robert M. Whaples, a professor at Wake Forest University. He tracked cash transactions in a convenience store chain across the United States. He found that if each transaction, if rounded to the nearest nickel, would not end up benefiting either the consumer or the business. Both sides essentially break even.
In conclusion, Americans are losing large amounts of money every year to a problem that could be easily solved. Pennies are more expensive to make than they are worth. Other nations have already done this and have reported no major problems. Finally, there would be no consequence to consumers or businesses in cash transactions as previously thought. If the United States continues to waste money on this outdated form of currency, the country will sink deeper and deeper into