Pros And Cons Of Pennies

Should we get rid of pennies or keep on creating them? In my opinion, I believe that pennies should be eliminated because pennies are not highly valued, prices should instead be rounded to the next five cents so that pennies are no longer needed, and it cost more to create than it is worth. Pennies are not very important or valued as quarters along with the other coins, as in most machines, such as vending machines, quarters are needed to be used other than pennies. For prices to be more convenient, prices should be rounded either up or down. Prices are in odd cost everywhere, such as using ninety-nine cents, which require pennies. Whereas, if prices were to be rounded to the nearest 5-cents, pennies are not needed to be used

Also, since pennies aren't greatly used, by producing them we are wasting money, but if we stop creating them we could be saving millions. According to Jeff Sommer in source 1, “The United States government — that is, taxpayers — lost $60.2 million on the production and distribution of pennies in the 2011 fiscal year, the mint’s budget shows, and the losses have been mounting: $27.4 million in 2010, and $19.8 million in 2009.” (pg.3) This is a good example on why pennies should stop being produced in the United States, by creating pennies millions of dollars are lost. Whereas, if we stop producing them so much more money will be saved. According to Jeff Sommer in source 1, “In the United States, the mint says, each zinc and copper coin costs 2.41 cents to produce and distribute.” (pg.2) This piece of evidence shows how we are wasting money by producing pennies that cost more than they are worth. Also, pennies are not highly used or valued, if pennies continue to be made the US is losing millions of dollars while it could be prevented. Although, some people disagree with the thought of pennies being

According to Ted Waterhouse in source 3, “Last week, Washington Middle School (WMS) hosted its annual Penny Drive for Charity. Students from every grade brought in bags and jars of pennies, and, with everyone's assistance, they raised over $3000 in one week!” (pg.5) This piece of evidence, shows how pennies could be put to good use for a good cause. Also, the school raised so much money due to pennies that were even stored in jars. Overall, the fact that pennies are not used as often or valued, people store the pennies into jars and some even come up with a collection and it can result in a good cause, like this charity. Altogether, pennies can be used for a good cause, I think that eliminating pennies would be the better option. According to Jeff Sommer in source 1, “A number of countries, including Australia, New Zealand, Brazil, Finland, the Netherlands, Norway, Sweden, Switzerland and Britain, have already dropped their lowest-denominated coins, without dire consequences.” This piece of evidence is a good way to provide comfort to the people that go against eliminating the penny. Many other countries have gotten rid of their lowest-denominated coin and are doing fine without