Is The Penny Worth It?
How do you feel about the penny? This small coin has been costing the United States a lot of money to produce. We aren't the first country to suggest discontinuing the penny. Many other countries have already dropped the coin. The penny should no longer be produced in the United States because of its high production cost and lack of use in other countries.
The penny is no longer cost effective in the United States. The money that it costs to mint one penny is more than what one is worth. In 2011, “taxpayers lost $60.2 million on the production and distribution of pennies”(Source 1). The penny may be useful at times, but it is costing the U.S. too much money to produce them. Also, the penny is inflating the economy. In recent years, “It has cost the U.S Mint more than 2.4 cents to produce one penny”(Source 4). The production of this small coin is wasting money and hurting the economy. Due to high production cost the penny should no longer be minted. …show more content…
Several countries such as Australia, New Zealand, Brazil, and Britain have already dropped the coin and that makes them useless in other countries. Years ago, Canada had plans to “stop minting them and stop distributing them through banks”(Source 1). Canada has now stopped the production of pennies and they are being donated to charities and being melted and used for other things. For instance, our military has also gave up use of the penny. Pennies are “too heavy and not cost effective to ship,”(Source 2) according to Chris Ward, a spokesman for the Army and Airforce Exchange Service. The military is an important part of our country, so if they gave up the coin, then the rest of the United States should too. Other countries and the military have already given up the penny, what are we waiting
How do you feel about the penny? This small coin has been costing the United States a lot of money to produce. We aren't the first country to suggest discontinuing the penny. Many other countries have already dropped the coin. The penny should no longer be produced in the United States because of its high production cost and lack of use in other countries.
The penny is no longer cost effective in the United States. The money that it costs to mint one penny is more than what one is worth. In 2011, “taxpayers lost $60.2 million on the production and distribution of pennies”(Source 1). The penny may be useful at times, but it is costing the U.S. too much money to produce them. Also, the penny is inflating the economy. In recent years, “It has cost the U.S Mint more than 2.4 cents to produce one penny”(Source 4). The production of this small coin is wasting money and hurting the economy. Due to high production cost the penny should no longer be minted. …show more content…
Several countries such as Australia, New Zealand, Brazil, and Britain have already dropped the coin and that makes them useless in other countries. Years ago, Canada had plans to “stop minting them and stop distributing them through banks”(Source 1). Canada has now stopped the production of pennies and they are being donated to charities and being melted and used for other things. For instance, our military has also gave up use of the penny. Pennies are “too heavy and not cost effective to ship,”(Source 2) according to Chris Ward, a spokesman for the Army and Airforce Exchange Service. The military is an important part of our country, so if they gave up the coin, then the rest of the United States should too. Other countries and the military have already given up the penny, what are we waiting