Love or Lose the Penny
The penny. The coin that honors president Lincoln. The coin that has had its design changed twenty one times. The coin that has been a part of everyday life for over two hundred years. The coin that is thought to be unimportant. What if “find a penny pick it up all day long you’ll have good luck” had no meaning? What if the penny became obsolete and no one ever had the opportunity to say “a penny for your thoughts?”. The battle to get rid of the penny has been an ongoing thing for quite some time now. Many people want to do away with the penny, but what they fail to realize is that getting rid of it could cause inflation and less money would go to charity. Pennies believe it or not can help people in need. Penny drives are a way to collect money to give to people who desperately need it. Washington Middle School hosted a penny drive for charity. They raised over 3,000 dollars in just one week (source 3). Even though the penny is only worth one cent they can still add up. As Washington Middle School found out 3,000 dollars is a lot. All that money can really change a person's …show more content…
Getting rid of it could cause inflation. According to “Penny Wise, or 2.4 Cents Foolish” inflation is sometimes cited as a threat whenever a small coin is phased out (source 1). This evidence shows that if the penny was eliminated then there's a good chance we could be throwing ourselves into a much bigger problem than the penny in general. Now realtors could round down their prices, but in the real world that's not how things normally work. In the real world realtors are more likely to raise prices rather than lower them. That could cause a one time inflation brust (source 1). It is clear that many people would want lower prices rather than higher ones. But that’s just unrealistic. If this were to happen and pennies were no longer made people would be forced to use coins they consider more
The penny. The coin that honors president Lincoln. The coin that has had its design changed twenty one times. The coin that has been a part of everyday life for over two hundred years. The coin that is thought to be unimportant. What if “find a penny pick it up all day long you’ll have good luck” had no meaning? What if the penny became obsolete and no one ever had the opportunity to say “a penny for your thoughts?”. The battle to get rid of the penny has been an ongoing thing for quite some time now. Many people want to do away with the penny, but what they fail to realize is that getting rid of it could cause inflation and less money would go to charity. Pennies believe it or not can help people in need. Penny drives are a way to collect money to give to people who desperately need it. Washington Middle School hosted a penny drive for charity. They raised over 3,000 dollars in just one week (source 3). Even though the penny is only worth one cent they can still add up. As Washington Middle School found out 3,000 dollars is a lot. All that money can really change a person's …show more content…
Getting rid of it could cause inflation. According to “Penny Wise, or 2.4 Cents Foolish” inflation is sometimes cited as a threat whenever a small coin is phased out (source 1). This evidence shows that if the penny was eliminated then there's a good chance we could be throwing ourselves into a much bigger problem than the penny in general. Now realtors could round down their prices, but in the real world that's not how things normally work. In the real world realtors are more likely to raise prices rather than lower them. That could cause a one time inflation brust (source 1). It is clear that many people would want lower prices rather than higher ones. But that’s just unrealistic. If this were to happen and pennies were no longer made people would be forced to use coins they consider more