Pennies, what are they worth? To answer that question one must first go back to the dawn of the penny. For centuries, the penny has captivated many with it’s historical significance and representation of America’s accomplishments as a nation; however, one thing that has changed over time is its commercial value. The penny was created with one intended purpose, facilitating the exchange of goods and services, but because of inflation the value of the penny has decreased making it hard for consumers to purchase anything with one single penny. Today pennies can be found under couches, sidewalks, and even in the garbage. The penny no longer has a purpose, so why is it still around? Stopping the production of pennies would save millions of Americans
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This organization believes that the penny should be kept because of its “high public acceptance and historical significance.” One piece of evidence they use to back up their claim states that “74 percent of Americans support keeping the penny in circulation.” This statement suggests that the majority of Americans are in favor of keeping the penny as the smallest form of currency but it fails to demonstrate any real change as far as circulation goes. I agree that what the penny represents is of great historical significance; however, studies have proven that Americans continue to pay little attention to the penny. Statistics from The Government Accountability Office show that “almost 66 percent of pennies did not circulate.” In other words, over half of the pennies that taxpayers spend millions on aren’t even being used. People might say they want to keep the penny but that doesn't mean they'll use them. What exactly happens to these pennies? Donn states that a recent survey in which people were asked about where they leave their extra pennies “2 percent admit to throwing pennies out.” This means that because of its decline in worth more and more people have refrained from using the penny, Americans are now turning towards new forms of currency which are less time consuming as well as more cost
This organization believes that the penny should be kept because of its “high public acceptance and historical significance.” One piece of evidence they use to back up their claim states that “74 percent of Americans support keeping the penny in circulation.” This statement suggests that the majority of Americans are in favor of keeping the penny as the smallest form of currency but it fails to demonstrate any real change as far as circulation goes. I agree that what the penny represents is of great historical significance; however, studies have proven that Americans continue to pay little attention to the penny. Statistics from The Government Accountability Office show that “almost 66 percent of pennies did not circulate.” In other words, over half of the pennies that taxpayers spend millions on aren’t even being used. People might say they want to keep the penny but that doesn't mean they'll use them. What exactly happens to these pennies? Donn states that a recent survey in which people were asked about where they leave their extra pennies “2 percent admit to throwing pennies out.” This means that because of its decline in worth more and more people have refrained from using the penny, Americans are now turning towards new forms of currency which are less time consuming as well as more cost