Would the world be the same without the pennies? Some people believe we should continue to manufacture them. While others believe that the penny should be eliminated from the American currency. Some argue over its sentimental value, and others argue over the cost it takes to produce the penny. After much consideration and lots of evidence to prove it, We should eliminate the penny because they're bad for the economy in many ways.
The first reason is evident; there worthless and take too much effort to use. Pennies are worth so little that it may take years of collecting 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, …show more content…
Many people are concerned that prices will be rounded up instead of down. In the article, "Is the Penny Worth It?" Mark Weller claims that, " . . . stores will not choose to round their prices down . . . ". While in the same article Dr. Robert Whaples, a professor at Wake Forest says he, " . . . does not think the economic impact of eliminating pennies will be significant." The article, "Is The Penny Worth It?", the author explains how the rounding of the prices will work and she says "If it was 9.09, it would be rounded up to $9.10. Another example is if items that are today marked as $9.03, will be rounded to $9.05. Some may say it will be rounded up, but it probably won't since lower prices attract more …show more content…
Many want to get rid of the penny since we don't care to use them and consider them a waste of our time. The penny is still included in the American currency, so we have to carry them around and annoyingly use them while shopping. Pennies are bulky, heavy money that we are obligated to carry around and if we don't we are more than likely to get more pennies back. Whats even worse is that pennies are more expensive to produce then there worth. Did you know that the penny cost 2.4 cents to produce while there only worth 1 cent? According to the article " The Ever Changing Penny" she says, " the penny is inflating the economy and should be eliminated." According to the website CoinNews.net, the author says, "The toll to produce, administer and distribute the 1-cent coin was 1.82 cents in FY 2017 compared to 1.50 cents a year earlier." This shows that pennies are rasing in price to make and are inflating the economy. Lets finally get rid of that bronze useless coin we carry
The first reason is evident; there worthless and take too much effort to use. Pennies are worth so little that it may take years of collecting 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, …show more content…
Many people are concerned that prices will be rounded up instead of down. In the article, "Is the Penny Worth It?" Mark Weller claims that, " . . . stores will not choose to round their prices down . . . ". While in the same article Dr. Robert Whaples, a professor at Wake Forest says he, " . . . does not think the economic impact of eliminating pennies will be significant." The article, "Is The Penny Worth It?", the author explains how the rounding of the prices will work and she says "If it was 9.09, it would be rounded up to $9.10. Another example is if items that are today marked as $9.03, will be rounded to $9.05. Some may say it will be rounded up, but it probably won't since lower prices attract more …show more content…
Many want to get rid of the penny since we don't care to use them and consider them a waste of our time. The penny is still included in the American currency, so we have to carry them around and annoyingly use them while shopping. Pennies are bulky, heavy money that we are obligated to carry around and if we don't we are more than likely to get more pennies back. Whats even worse is that pennies are more expensive to produce then there worth. Did you know that the penny cost 2.4 cents to produce while there only worth 1 cent? According to the article " The Ever Changing Penny" she says, " the penny is inflating the economy and should be eliminated." According to the website CoinNews.net, the author says, "The toll to produce, administer and distribute the 1-cent coin was 1.82 cents in FY 2017 compared to 1.50 cents a year earlier." This shows that pennies are rasing in price to make and are inflating the economy. Lets finally get rid of that bronze useless coin we carry