Is it possible that simple nostalgia and our fond memories of "take a penny, leave a penny" trays are protecting a coin that's worthless to pretty much everyone besides the multinational conglomerate that helps produce it? And if not, why exactly is the penny worth keeping around? The penny for some time has been the “throw-away” change thus having a negative impact on the economy, because with all the accumulated pennies, is all the money thrown out of the economic cycle. Thus since the penny has been giving a negative impact to the economy, in turn it should be eliminated.…
The penny is the coin with the least value, one cent. Making this one cent coin cost way more than it is worth. It cost about two dollars and fourty one cents to make a penny while it is only worth one cent, says “Penny Wise, or 2.4 Cents Foolish?” Therefore, the United States is losing money. Is this coin worth losing $60.2 million a year? All that money wasted can go towards more important things if the penny wasn't made anymore.…
The saying “A penny for your thoughts” means a lot to society; however, William Safire does not agree with this notion. In Safire’s “Abolish the Penny,” he argues that pennies are a burden to the society and should be completely taken out of the circulation. Safire states, “The time has come to abolish the outdated, almost worthless, bothersome, and wasteful penny” (515). He says that the penny is a scam by the government that makes something look cheaper than it actually is. He believes that the penny is a hassle and is no help to the government. Although Safire may have a good point about abolishing the penny, he does not realize how much harm it could actually do to a society in the form of taxes, shopping, and entertainment.…
o Americans had no currency, but they were constantly buying things from Britain, so that gold and silver was constantly draining out of America, forcing some to even trade and barter. Eventually, the colonists were forced to print paper money, which depreciated.…
The primary purpose for Nickel and Dimed are for literary purposes, as the author seems to write with the goal of entertaining the reader. Throughout the story, the author regularly uses humor with the express purpose to entertain the reader. "It's good to know that something is cheaper than my time, or that in the hierarchy of the company's values I rank above Windex." (Page 307)…
Why are we losing the penny? Even though the penny cost more to make than what it`s really worth . we can find more ways the make the penny cheaper. *They will have to round the penny that would cost gas to increase to a horrible price to make the penny cheaper *make the penny cost less is to add more zinc and less copper *We need pennies just in case some companies or organizations want to donate *they might want to collect pennies even though production costs are slightly lower today, the penny still costs the u.s. Just over 1.8 cents to produce.…
One argument for eliminating the penny is the wasted time fishing for pennies on cash transactions. Jeff Gore, founder of “Citizens for Retiring the Penny” conducted a study with The National Association of Convenience Stores and Walgreens that determined handling pennies added 2 to 2.5 seconds to each cash transaction. After all of the numbers were crunched, he calculated that four hours per person were wasted each year searching for pennies. This equates to a national cost of over $15 billion dollars per year if each person’s time is worth $15/hour (Source B). How much time did he waste conducting this study? What he didn’t calculate was the extra profits these retailers received on impulse purchases while waiting on the patron to count his pennies. I believe these extra purchases greatly outweigh the “wasted time” counting pennies.…
Have you ever had a mountain of pennies and have nothing to do with them. Have you ever even really used the penny. You don't go to the store and buy something for a penny. It just sits on top of your dresser. What if there was a way to stop having a pile of pennies on your dresser. We just have to get rid of the penny. The penny should not be made because of its high production cost and the high cost to taxpayers.…
The penny is a largely recognized historical component of American life, and it is far too entrenched to be easily uprooted. All of the time and money spent to campaign to abolish it is simply not worth the “benefits”. Source E, a poll from the Harris group, shows the strong desire American’s have towards keeping the penny, thus its importance to society. It is noted in Source D that the penny remains essential to the public and is very important to our pricing system, including taxes.…
The penny, the smallest coin in the U.S., that honors president Abraham Lincoln, is now essentially worthless. Back not too long ago, it was possible to go the store and get a whole bag of candy for a nickel, or a chocolate bar for a penny. But now that is no longer possible. Nowadays the price of everything is much higher than it used to be, which means that small amounts don’t go as far. As source C explained, there used to be penny-poker, penny candy, and five and dime stores. Now, penny poker would be played with dollar bills, penny candy could cost you a couple hundred pennies, and the five and dime is a “dollar store”. The value of money has dropped leaving everything more expensive. As source C states, “it takes nearly a dime today…
Coin clipping was the act of shaving or trimming coins (which in the 19th Century were usually made from gold or silver and were easily trimmed) to the point where the coin was still recognisable, but weighed significantly less. When the coiner had collected enough…
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…
The reason that we need to keep the penny is because we don’t need anymore change in the US. If we remove the penny, then we will have to change. The nation is already changing so much because of the election and politics and the other things. So why change more?…
The penny materials that miners search for is a safe job because there are protection for the workers to keep them safe from accidents that may occur. Fire extinguishers are there for fires that are caused by leaks, flammable chemicals. The people that work as miners are safe because now there are inventions that have been invented to keep safe. There is a transportation of dangerous goods. Miners would feel safer because now there is protection for them. Good inventions are made every day to keep people safe from dangerous stuff that can occur. Fall protection is for miners to be protected from ground falling on them when workers are underground,where slopes and unstable ground may fall. Some people find a job as miners so they can earn…
Most machines that receive change won’t accept one cent coins anymore and the pennies will just collect in people’s wallets or pockets. Canada got rid of their pennies and it seems America may do the same at some point. It costs almost double one cent to make a penny, and this is not cost efficient. There is a lot of controversy over the matter. People have been discussing whether removing the penny would hurt or help the economy for some time now. In the Time Josh Sanburn claimed, “Pennies would likely be melted down and sold for their zinc and copper, which could yield millions of dollars for federal coffers” (Sanburn 1). Pennies may end up being a rare collectable in the far future, but as of now they remain a neglected form of currency with the increased use of digital transactions. Pennies will remain a staple in history no matter what their future…