Over recent years, the lowest level of currency, the penny, has been questioned for its worth to the American people. Even before we only paid with tap or Apple pay, the penny’s value has seemed to be rather questionable, at just one hundredth of a dollar. After all, if you came across a penny heads up on the sidewalk, chances are, you’d leave it for another person to pick up, perhaps a child who believes the penny to be of any worth. Although keeping the penny in the American economy would be of use to lower-income citizens, ultimately it is in America’s best interest to abolish the penny, due to its overall lack of use and value. For one, due to the penny’s low value, they often fall out of circulation anyway, sometimes literally in between one’s
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So many pennies disappear simply because “they are literally more trouble than they are worth” (Source C). However, Source D claims that pennies disappear at the same rate as any other coin- our dimes, nickels, and quarters, according to a 2002 study on the Federal Reserve data. Although this data may counteract Source C’s point of the majority of pennies getting lost in circulation, it still does not change the fact that pennies are of very low value to us. Commonly when we see a sort of money for charity drop, we are in search of extra pennies we may have stuffed somewhere in the bottom of our wallets because they don’t hold enough value for us to keep them. In this way, we only view pennies as disposable coins that could be long lost and we wouldn’t even care to notice. Similarly, the penny’s lack of use ultimately makes it a burden when it comes to making purchases. In fact, those who still pay in cash at the store may waste “4 hours per person [clerk] per year,” just from digging in their wallets or purses for some extra pennies to facilitate their purchase (source
So many pennies disappear simply because “they are literally more trouble than they are worth” (Source C). However, Source D claims that pennies disappear at the same rate as any other coin- our dimes, nickels, and quarters, according to a 2002 study on the Federal Reserve data. Although this data may counteract Source C’s point of the majority of pennies getting lost in circulation, it still does not change the fact that pennies are of very low value to us. Commonly when we see a sort of money for charity drop, we are in search of extra pennies we may have stuffed somewhere in the bottom of our wallets because they don’t hold enough value for us to keep them. In this way, we only view pennies as disposable coins that could be long lost and we wouldn’t even care to notice. Similarly, the penny’s lack of use ultimately makes it a burden when it comes to making purchases. In fact, those who still pay in cash at the store may waste “4 hours per person [clerk] per year,” just from digging in their wallets or purses for some extra pennies to facilitate their purchase (source