Before the coin went out of use it was worth only half a…
Although the penny costs more to make than what it's worth, we continue to produce it. " U.S. Mint keeps churning out a billion pennies a month. Where do they go? Two-thirds of them immediately drop out of circulation, into piggy banks or …behind chair cushions or at the back of sock drawers... Quarters and dimes circulate; pennies disappear because they are literally more trouble than they are worth."…
This changed the materials of the pennies were made of. From steel with a layer of zinc to a mixture of tin and copper. This…
Noah Goldfarb Jeanne Morgan Honor Chemistry September 8, 2015 All That Glitters Lab In this lab, my lab partners and I were trying to prove that pennies that was made before the year 1982 is more dense than the pennies made now due to the materials used in the pennies we used now versus the materials we used before 1982. In order to prove that the pennies in 1982 is more dense than the pennies we currently have, we used a graduated cylinder to calculate the volume of both the pennies before and after 1982 as well as the unknown metal sample.…
Would abolishing the penny be an economical challenge for the state? A United States Representative , Jim Kolbe went to congress with a bill to eliminate the coin. Even though he failed, there is still many wanting to do away with the penny as the smallest coin because they think it is worthless. The penny has a story that shows the importance of history including our previous United States President, Abraham Lincoln.…
Interestingly, the penny actually costs more to produce than it is worth. According to Source #1, each penny costs about 2.41 cents to produce (Source #1, Sommer). In 2011 alone, the United States “...lost $60.2 million on the production and distribution of pennies…” (Source #1, Sommer).…
How would you have responded to this question, had it been assigned to you? If this question was assigned to me, I would have chosen to defend the penny because it is too important to American society. Review the documents. Which documents would be helpful in supporting the position you chose?…
Overjoyed, they decide to continue using different fertilizer combinations to see how much they can potentially earn. This story is introducing money and coin value. It can give students practice with counting pennies, nickels, and quarters and grouping them into whole dollar amounts. This…
The penny creates an inconvenience for everyone as our monetary system focuses on its use even though its value is miniscule. That time spent looking for pennies in line at the grocery store could be spent on other thing instead of wasting everyone else's time. Also, the penny in itself is a waste of time as it is valued less than its material cost and much less than its labor cost. This means that as more pennies are produced the government will continuously lose money. In doing away with the penny, many of this nation’s economic problems might actually be…
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.…
We have wasted time, effort, and our economy on pennies. And all they do is just weigh down your pocket. It is common knowledge that pennies are more expensive to produce than they are worth. But, there are many other negative detriments about pennies. Honestly I see them more in math problems than in real life.…
Another fantastic reason is because sometimes I couldn't see the president on the coin because of the dirt The reason why I wanted to study cleaning pennies is because I like shiny coins especially pennies . Instead of the old dirty, rust, and nasty pennies I wanted to figure out which solution will make the pennies be cleaner and shinier than they were out of bleach solution salt and vinegar solution, toothpaste solution, and vinegar/ baking soda solution. As you might know Pennies are made from Benjamin Franklin because he had a thought to bring the penny to america even though most people in America call it penny the real expression is actually “one-cent” piece. The expression “penny” came from the british and they call their penny…
Within the past few years, its cost has fluctuated slightly, but has stayed around 1.6 cents. At such a low value to begin with, and costing more to make than its actual value, it is not worth the time, cost, nor the energy being used to produce the penny. While all of this energy and money is going into manufacturing these pennies, the mills could be much more efficient and mass-produce many other coins, more useful than the…
In source 1 it states, “That cost is significantly less than the $50 a year in time wasted for each person, in addition to the $100 million per year lost to the U.S. Treasury.” This quote means we waste too much money on pennies. This quote supports the position that the penny should be eliminated because it cost too much to make. In source 3 it states, “A penny currently costs the United States government 2.4 cents to mint.” This quote means we we spend too much money on just one penny.…
When presented the experiment of living off of minimum wage, Barbara Ehrenreich, embarks on a journey that is followed throughout Nickel and Dimed and shows the struggles that she encounters living the life of a person in poverty. Ehrenreich argues that different systems in America are setup to actively keep those people working for minimum wage in poverty and this system prevents them from moving up in economic status. Ehrenreich’s argument is strengthened by the many experiences she presents in the book showing the difficulties of living life gaining minimum wage. Ehrenreich, while low on funds and in need of help, talks about her own personal experiences with trying to get some food.…