Pros And Cons Of The Penny In The United States

There is the controversies of a debate between whether or not the penny should be stopped being made in the United States.But there is economically pros and cons of producing this coin known as the penny. Although, the penny has some pros, the cons outway the pros by a lot, which is because of what actually happens when processing the penny and to ust having the penny alone. To start with, Pennies are often not really used, they’re left, thrown away, and no one really has used them as they’re intended for. In source #1 “Penny Wise, or 2.4 Cents Foolish?” it states, “We often store them in jars, throw them away in water fountains, or refuse them as change.” This is saying that the majority of the public isn’t making a use for them as to

In the source “ Penny Wise, or 2.4 Cents Foolish?” It states, ”In the United States, the mint says, each zinc and copper coin costs 2.41 cents to produce and distribute.It costs 1.6 Canadian cents to make a penny at the mint in Winnipeg, according to Canadian government figures.” The evidence shows that the cost to make it is more than double than what it’s actually worth, and in Canada it is only .7 over the amount it is worth in Canada.This is showing the public that the United States is losing money in making the penny, which doesn’t help the U.S. in the long run.Also in source #1 “ Penny Wise, or 2.4 Cents Foolish?” it specifically states that”But we are paying a cost for the privilege of squirreling them away in drawers and on dressers.The United States government-- that is, the 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.” This is the amount of money that the U.S. is losing in just producing the penny and not any other coins or bills.This money could be helping and providing a contribute to people in the U.S. that are in need of money.The United States could go in debt because of making the penny and that's not just the only coin or bill that the government has to make.To end off with, the penny

In the source “Penny Wise, or 2.4 cents Foolish?” It specifically states,”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 evidence is saying that many other countries have given up their lowest coin and that coin for the United States is the penny worth one cent.The evidence demonstrates that the United States needs to get rid of the penny as well, even if the vote on it isn’t high, the people needs to have this coin gone because in the long run, the United States won’t have anymore money because of making this money and it costs more than what it’s even