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Essay On Are Pennies Worth Minting

783 Words4 Pages

Are pennies worth minting? Many people believe they’re a waste of money, but some people believe that they’re still worth minting. Pennies should not be minted for many reasons such as, the penny costs more money to make then the penny has in value.Another reason is that pennies are a severe waste in time such as people often pay with pennies as a practical joke, which means hard working employees often have to spend the time to count those pennies. The final reason is because the penny is losing the government money. All in all the penny should not be printed anymore because they cost more to make then they have value, then they are a waste of time as in counting the, and finally reason is that pennies are losing the government money. A reason pennies should not be minted is because the penny costs more to make then it has total value. As stated in the text,” Because the penny costs more than a cent to produce, the Treasury loses more than $100 …show more content…

As stated in the text,”In truth, it is more than a coin—it is a piece of American culture.” Even though the penny has some culture, culture is nothing compared to losing money the losing money part is way more important than just being part of American culture. This shows how people can hold onto the smallest things for the dumbest reasons. Another thing stated in the text was,”Still, for many people, the penny's sentimental value remains the same.” Even though the penny may have some sentimental value the government is losing a ton of money minting new pennies because they cost more than they have in value. This shows that pennies may have value to some people but not enough to compensate for the money lost by the government for minting a penny. All in all some people believe that pennies are worth minting, but they are just of waste of

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Mint 1.63 cents for every penny it produces- almost 7 billion of them in 2014”(Gore). The price of penny production quickly adds up, as those seven billion pennies cost the U.S. Mint over 114 million dollars. This price differencing has led to people melt down the pennies and resell the metal as a raw material for profit. With the elimination of the penny, the U.S. Mint would stop losing profit on production of the penny, and would stop the government from losing money in a time where the United States is in trillions of dollars in debt.

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The Currency Act of 1764 was a British Law, passed by the Parliament of Great Britain on September 1, 1764, that was designed to control the colonial currency system. This act prohibited the issue of any new “Bills of Credit” and the reissue of existing currency by the American colonists in the thirteen colonies. The reason the Britain Parliament passes this act was because they wanted to control the printing and use of colonial paper money. Also, it was said that British merchants in England wanted to be paid in British currency and not colony currency. The colonists did not like this act and therefore colonial merchants refused to buy goods from Great Britain.

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Research conducted by The Harris Pole shows that on average, 23% of the entire population supports abolishing the penny (Source E). Why are we putting such a large emphasis on an issue that is supported by less than one-fourth of the entire population? This is yet another example of how this debate is backed by politicians that will enjoy personal benefit from the abolishing of the penny and is not an accurate representation of the majority. Furthermore, a proponent of the abolishing, U.S. Rep. Jim Kolbe, represents a state that would benefit economically if the penny was abolished (Source A). What Kolbe doesn 't care to mention is the damage that would be caused to other states that have a large impact on manufacturing pennies, and the jobs that would be lost due to the

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That is why I am supporting the retirement of the pennies. With me supporting the retirement of the penny I have some evidence on why the penny should be retired. One piece I have is in the article it states that it costs 11 million dollars to make pennies in other countries. That it is a lot of money being used even though the penny doesn’t really get used, it just gets pushed to the side and never gets used. They could be doing more with the 11 million dollars.

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The author used to hide some pennies to let others dig them out when she was young. This childish move shows how many people recently unable to see another

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This shows that the penny is a part of U.S history and will cause many problems if they stop making them. Additionally in source 4, it is stated “This system would be extremely confusing

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Therefore, the one cent not the greatest coin and the government should stop production of the penny. Last reason why the penny should be gone is, people just don't like them anymore and they take up too much space. For example,” people store them in jars refuse them as change and throw them away in water fountains.” See people are over the penny. Also,“pennies are not worth the trouble of carrying them around and take up too much space.”

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The penny is perhaps one of the most historical, and mass produced items in our country. To remove these precious objects from our economy would be illogical and unbeneficial. Although many people support the idea of abolishing the penny, it should truly be kept in our economic system due to it’s power in numbers, interesting history, and America’s negative future if it is no longer minted. Together, pennies can be very powerful in certain situations. “Washington Middle School hosted it’s annual

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The complete waste of time and money spent producing these pennies just to be forgotten in the couch cushions is astounding. If every penny is 1.8 cents to produce than the government is giving away 800 million USD every single year. The same article says, “...10 million new useless items punched out by government workers who could be more usefully employed tracking counterfeiters.” In other words, the government isn’t only wasting money on penny production but, also a working staff. U.S. currency could be more protected if it wasn’t for the pesky penny.

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So why do we still have it? The penny is outdated and unnecessary. The penny costs an irrational amount of money compared to what it's worth. The penny, a one cent coin, costs 2.41 cents to make, which is nearly 1.5 times what it's worth (source 1). That means that annually, the United States loses 60 million dollars in pennies every year!

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The purpose of this lab was to change pennies from copper to silver to gold, like alchemists have attempted to do in history. Through the data and observations gathered throughout this experiment, it can be concluded that the pennies were not changed into a different element. For example, the density of the penny from 2005; which was the penny that was experimented on to see whether or not it could turn into silver; was 4.62 g/cm3 before the experiment and 4.89 g/cm3 by the end of the experiment. If this copper penny really would have turned into silver, then the density of the penny would be 10.49 g/cm3; which is the density of silver; by the end of the experiment. The penny may have turned silver in color, but this was only because it was plated in the zinc that was added to the beaker of water in the experiment.

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The penny press helped bring in news for everyone. Events throughout the day would be put into the paper. Maybe it was an accident, or a major event that had happened near them. The penny presses also helped bring about the idea of having journalist all over the nation, for example in Washington D.C.

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