This would largely compensate for the minimal employee training costs, so sellers would not have to raise prices, hence no inflation of goods. The removal of the penny would not boost inflation rates of consumer and producer goods and instead, might even combat them in cash transactions. Pennies also inflict harm on the American economy and its people. The government continually loses money when producing pennies. Due to rising metal costs, “some projections [expect] a loss of at least $2 billion in penny production from 2016-2031,” because the penny costs more to manufacture than its one-cent worth (Starr 3). The American government is wasting great amounts of money on pennies, which have been largely proven useless. Losing all this money is harmful to the economy and could be simply fixed by just removing the penny. The penny is also a safety hazard to children and anyone who swallows it. In fact, pennies are the most commonly swallowed coin “occurring in. (58%)” of esophageal impaction cases, “perhaps because they are small, shiny, and visually appealing” (Mcneill, et al.
This would largely compensate for the minimal employee training costs, so sellers would not have to raise prices, hence no inflation of goods. The removal of the penny would not boost inflation rates of consumer and producer goods and instead, might even combat them in cash transactions. Pennies also inflict harm on the American economy and its people. The government continually loses money when producing pennies. Due to rising metal costs, “some projections [expect] a loss of at least $2 billion in penny production from 2016-2031,” because the penny costs more to manufacture than its one-cent worth (Starr 3). The American government is wasting great amounts of money on pennies, which have been largely proven useless. Losing all this money is harmful to the economy and could be simply fixed by just removing the penny. The penny is also a safety hazard to children and anyone who swallows it. In fact, pennies are the most commonly swallowed coin “occurring in. (58%)” of esophageal impaction cases, “perhaps because they are small, shiny, and visually appealing” (Mcneill, et al.