Argumentative Essay On The Benefits Of A Penny

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 from the U.S. Mint, it costs 1.7 cents to create just one penny. With this information known, the losses from pennies are far too great for the American economy to handle. Not only does it cost more than the penny is worth to create it, but melting the pennies can cost more than two cents per penny. Many people believe that getting rid of the penny would raise prices on goods because the price would be rounded to the nearest nickel. This may be true individually, however, overall prices are likely to stay the same as they are now. Many countries, such as New …show more content…
This, however, is no longer the case in modern day stores. There’s generally nothing you can buy with a penny or even several pennies. In past times, these coins would’ve been beneficial to our society. Considering the vast majority of individuals living in America pay with credit cards, debit cards, or checks, this small coin basically has no value anymore. Vending machines very rarely accept pennies and paying for things with pennies often causes people inconvenience. It is a common occurrence for people to leave pennies in a jar on the counter or mutter the phrase, “Keep the change.”Considering this happens so often, it is abundantly clear that Americans notice the value of the penny and think very little of it. Nearly nobody enjoys the cent, and it often goes unnoticed laying on the street or in the bottom of a