Cent

Harvard Economist Greg Mankiw one said, "It costs the mint well more than a cent to make a penny. The solution, in my view, is to get rid of the penny." This means that the penny costs more to make than they are worth. The materials that are used in the penny are expensive and taxpayers lost millions of dollars for the production of the penny. The production of pennies should be eliminated throughout the United States. It is a big part of American history, but they cost too much to produce. For a start, pennies cost more than they are actually worth. Jeff Sommer wrote, "In the United States, the mint says, each zinc and copper coin costs 2.41 cents to produce and it distribute." (Penny Wise, or 2.4 cents Foolish?). This is saying that pennies cost too much to make than what they are actually worth. Sommers also wrote, "Taxpayers lost $60.2 million on the production and distribution of pennies in the 2011 fiscal year." (Penny Wise, or 2.4 Cents Foolish). The taxpayers money was wasted on the production of pennies. We can either find a different, cheaper material to make them out of or we can just end all production of pennies.…

The penny is a coin which is often disregarded by Americans. With the penny only being worth one cent, it is difficult to believe that production of this coin results in $132,000,000 in losses annually. This, however, is a true fact which is negatively impacting the pockets of American citizens. Considering the major loss of producing this cent, it would benefit America to overall discontinue producing this coin. Pennies are only worth one cent, yet, based on research from 2014 Annual Report…

before you get a suitable amount worth using. For example, in the article "Penny Wise or 2.4 Cents Foolish?" Jeff Sommer's says that "We often store them in jars,…

For a fact, the government spends 1.5 cents for every penny it makes. Look at it from the other side. If no one uses the penny, that causes the government to spend more on making the penny. For every one billion pennies they make, they are spending 1500000000 cents. Believe me, that is a lot of money. That is 15 million dollars. That money could be spent on the issues that our country needs. Some of these include better roads, more funding towards education, and much more. You might think that…

Do you know pennies real cost? Some people think we should get rid of pennies and others think we should keep them. I think we should get rid of pennies because the cost of the pennies has more value then it is worth. My reasons why I think we should get rid of pennies is because the penny costs 1.6 cents to produce and those pennies people have endup under a couches or on the floor. There's about a thousand pennies on streets that people don't bother to pick up. Pennies get lost every…

will raise the prices on items. "Penny Wise or 2.41 Cents Foolish" says that if a cup of coffee costs $2.01, it should be raised down to $2 but we all know that would never happen. Removing pennies will raise the price to $2.05. Who would want to spend more money on items because United States removed pennies. People who receive less salary than others will be stressed to pay for food…

The US uses 1.5 cents to make just one penny last year. That is .5 cents more than the price of the penny causing the US to lose millions each year. This fact leads to arguments on why the useless penny should be abolished. As a growing country, pennies represent the expanding nation for everyone to see. But, the country will not be able to grow any more if people lose millions each year from useless pieces of zinc. Although the penny displays the nation's growth and can save people money over…

environment through fossil fuel, and the transportation also emits high Co2 levels which pollutes our environment. For further evidence, we can ask DesignLifeCycle.org which is a site created by students and professors at University of California. They calculate just transporting pennies to banks not even the other energy consuming methods of producing and transporting pennies; The transportation will put about 1.5 million metric tons of Co2 into the atmosphere each year. In addition…

Why America Should Trash the U.S. Penny America lost $55 million dollars producing pennies in 2014 alone. Pennies waste our taxpayers and governments’ money. Also, they’re bad for the environment around us. Not only that, but they’re also quite impractical. Therefore, America should get rid of the penny. Pennies waste both American government and taxpayers money. Conforming to the 2014 Annual Report from the U.S. Mint, it currently costs 1.7 cents to make a single penny. That’s 70% more than…

The penny has been around for over 200 years and has made it through history as the one cent coin. Over time it has a limited use and most of the time it is laying around lose in people’s pockets. Many people feel that the penny is necessary for keepsake purposes and to honor Abraham Lincoln. The Penny has had its highs and lows throughout its existence, but the single cent value seems to be lost in people's wallets and purses. The penny should be abolished because it is impractical in everyday…