The penny, a debate that has been going on for a few years about it. A penny cost more than it’s worth to make . People store them in jars, throw them in fountains, or refuse them as change. People have been saying the penny is worthless and a waste of time or money. Also that it is not worth carrying around. ((information from source numbers 1 and 2))
Even though the penny cost more than it’s worth to make (which is around 1.7 cents to make) the nickel does too! The nickel costs around 11.18 cents to make, and that’s not even the beginning. If we got rid of the penny we would probably use the rounding system. The bad thing is that some people think the rounding system will end up costing people extra money. Some stores might not choose to round their prices down. Price rounding cannot be done fairly, the real world could (and most likely would) raise prices. The good thing is that in competitive market prices may decrease. ((information from source numbers 1 and 2))
A school once did a penny drive for charity and raised $3,OOO in one week! That is because the penny is worth so little and people don’t mind donating them to charity. They might be a little bulky, but they add up. If they organized a quarter or dime drive, they probably wouldn’t have made as much money. That’s because dimes and quarters cost more money and use …show more content…
It has been part of our history for over 200 years!! The penny reveals more than just a coin. It exposes a piece of our American culture. For example, the penny’s shape and size have changed since they were first made. Just like our economy. This one-cent piece has influenced our language, giving us many sayings. “A penny for your thoughts.” (a way to ask what someone is thinking). “Not one red cent.” (meaning no money at all). The penny also made terms like “penny candy.” (a piece of candy sold for 1 cent). “Penny arcade.” (an amusement center with machines that cost 1 cent to operate.) ((information from source number
Even though the penny cost more than it’s worth to make (which is around 1.7 cents to make) the nickel does too! The nickel costs around 11.18 cents to make, and that’s not even the beginning. If we got rid of the penny we would probably use the rounding system. The bad thing is that some people think the rounding system will end up costing people extra money. Some stores might not choose to round their prices down. Price rounding cannot be done fairly, the real world could (and most likely would) raise prices. The good thing is that in competitive market prices may decrease. ((information from source numbers 1 and 2))
A school once did a penny drive for charity and raised $3,OOO in one week! That is because the penny is worth so little and people don’t mind donating them to charity. They might be a little bulky, but they add up. If they organized a quarter or dime drive, they probably wouldn’t have made as much money. That’s because dimes and quarters cost more money and use …show more content…
It has been part of our history for over 200 years!! The penny reveals more than just a coin. It exposes a piece of our American culture. For example, the penny’s shape and size have changed since they were first made. Just like our economy. This one-cent piece has influenced our language, giving us many sayings. “A penny for your thoughts.” (a way to ask what someone is thinking). “Not one red cent.” (meaning no money at all). The penny also made terms like “penny candy.” (a piece of candy sold for 1 cent). “Penny arcade.” (an amusement center with machines that cost 1 cent to operate.) ((information from source number