ipl-logo

Abolish The Penny Essay

841 Words4 Pages

This scandalous coinage, also known as the penny, is a lousy excuse for a currency and should be abandoned. The penny costs the American people precious time and money as they attempt to scour through their purse or wallet just for a 1 cent coin, which is having devastating effects on the economy. The obvious solution to this ordeal is removing the penny and rounding all prices to the nearest nickel. On the other side of the argument, people view this as an opportunity for businesses to charge extra for a product or service that you originally would of although, there is simply no hard defining evidence that this would even occur. With everything considered, the penny is a nuisance to society as a whole, we need to abolish it before it creates …show more content…

According to Source 4: Favor Abolishing The Penny? By the New York Times, The data shows 59 percent are for keeping the penny while an underwhelming 23 percent are for abolishing it. Conversely, the reason for the difference is unclear but, if more people were aware of the repercussions pennies are causing they arguably most likely would switch sides in the argument. According to Abolish the Penny by William Safire, “There is no escaping economic history: it takes nearly a dime today to buy what a penny bought back in 1950. Despite this, the U.S. Mint keeps churning out a billion pennies a month.” 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. To sum up, if people took the time to research how the penny was affecting us as a nation we could be closer to the

Show More
Related

Essay On Penny Lab

444 Words | 2 Pages

Next, we determined the mass of the penny by placing it on a balance. The mass of the penny was 2.47 grams. Afterwards, we placed the penny in a beaker filled with 20 mL of 6 M HCl. In the end we put the beaker in the fume hood and allowed it to sit overnight. During day two of the penny lab, we removed the penny skin from the beaker using tweezers.

Read More

Copper Penny Research Paper

189 Words | 1 Pages

The penny would help the flower slowly heal itself without having to battle of the bacterias eating the flower. There are much more ways the flower could die but the penny is one way to help preserve the flower. This natural antibacterial agent works like an acidifier, which prevents the growth of bacteria because bacteria cannot grow. The

Read More

Penny Synthesis Essay

743 Words | 3 Pages

The penny should be eliminated from circulation, as pennies cost more in raw materials to make then amount it is worth. The cost of making a penny today costs 1.63 cents

Read More

The Devil In Devolution Summary

493 Words | 2 Pages

The states, back then, had the choice to choose paper money, and most of them did because they didn’t really want to pay taxes with their gold and silver. With this change in currency, the value fell and hurt the economic “reputation”. If the federal government hadn’t given the state governments the right to choose paper money they would have been much better off in the long run. Overall, in his article The Devil in Devolution, Donahue’s main point was the states were being given too much power and weren’t necessarily able to handle all the responsibility properly that comes with power like the federal government would have been able

Read More

The Currency Act Of 1764 Dbq

89 Words | 1 Pages

The Currency Act of 1764 was a law passed by Great Britain on September 1,1764. This act prohibited the manufacturing of any new or re-issuing of any existing currency by the colonists. The purpose of this act was to control the making and use of colonial paper money, please the British merchants who did not trust the colonial paper money, and to reduce the national debt. This act caused the colonies to suffer a constant shortage of silver and gold, this stopped trade between the colonies and other countries.

Read More

Why The Penny Should Be Retired

489 Words | 2 Pages

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.

Read More

Essay On Are Pennies Worth Minting

783 Words | 4 Pages

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

Read More

Pennies Should Be Eliminated Essay

521 Words | 3 Pages

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.”

Read More

Argumentative Essay On The Penny

701 Words | 3 Pages

Arizona Republican Kolbe, proposed the “Legal Tender Modernization Act”, which rounds prices up or down. The penny would not be ban by this act but merely would render the penny useless (Kolbe). If this system made the penny useless, it would be a better idea to ban it fully. Not banning it would still allow penny production

Read More

Argumentative Essay: Keep The Penny

668 Words | 3 Pages

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!

Read More

Federal Reserve Essay

729 Words | 3 Pages

Every physical dollar that goes into the economy increases the total supply by one dollar. However, if a dollar is deposited in a bank, it would count as more than one dollar due to the fact that it increases the bank’s reserves, which would increase the amount of money that the bank can create. If the Federal Reserve wanted to decrease the money supply, it would sell government bonds to the public. The public would have to pay for the bond with their physical currency and bank deposits.

Read More

Abraham Lincoln Synthesis

128 Words | 1 Pages

John Green, a well known NY times author proclaims, “If Abraham Lincoln were alive today, he would say ‘why is my face on a coin that is worth 1/26 of what a penny was worth when i was president?’” Lincoln and his monument would still be on today 's $5 bill. Even the United State government stopped using the penny and are now rounding to the nearest

Read More

Pink Tax Persuasive Essay

786 Words | 4 Pages

It’s the 21st century, a time where all would believe that equality among the sexes has finally achieved. This is far from the case, women and men aren’t seen as equals in society and there is numerous ways to prove this. From how one should act based on their sex to how women have to pay more for products and services. That’s right, women have to pay more for the same products and services as men. This is called the Pink Tax, the extra amount that women are charged for products and services.

Read More

Penny Lab Report

463 Words | 2 Pages

The density of the penny was 4.68 g/cm3 before the experiment and 4.43 g/cm3 at the end of the experiment. The density of gold, though, is 19.3 g/cm3. Since the densities of the penny and the gold are different, the penny clearly did not change into another element. The gold color of the penny was a result of the flame that it was held above melting the zinc that it was coated in with the original bronze colored coating of the penny, creating an alloy with a shiny yellow color. Since neither of the pennies, silver colored or gold, changed densities throughout the experiment and each retained their own properties; the properties of copper; no new elements were

Read More

Argumentative Essay On Pennies And Groceries

642 Words | 3 Pages

They go with history, they help charities, and they can help society. Pennies are a part of our history. For example, “The one-cent piece, commonly referred to as the “penny,” has been a part of United States history for over two hundred years. Its design has changed twenty-one times. History also shows that as the economy has changed, so has the value of the coin.”

Read More

More about Abolish The Penny Essay

Related Topics

Open Document