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    Penny Argument Analysis

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    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. It is a big part of American history, but they cost too much to produce. For a start, pennies cost more than they are actually worth. Jeff Sommer wrote, "In the United States, the mint says, each zinc and copper coin costs 2.41 cents to produce and it distribute." (Penny Wise, or 2.4 cents Foolish?). This is saying that pennies cost too much to make than what they are actually worth. Sommers also wrote, "Taxpayers lost $60.2 million on the production and distribution of pennies in the 2011 fiscal year." (Penny Wise, or 2.4 Cents Foolish). The taxpayers money was wasted on the production of pennies. We can either find a different, cheaper material to make them out of or we can just end all production of pennies.…

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    What if the penny became obsolete and no one ever had the opportunity to say “a penny for your thoughts?”. The battle to get rid of the penny has been an ongoing thing for quite some time now. Many people want to do away with the penny, but what they fail to realize is that getting rid of it could cause inflation and less money would go to charity. Pennies believe it or not can help people in need. Penny drives are a way to collect money to give to people who desperately need it. Washington…

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    Penny History

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    My peers, currency is one of the cornerstones of modern society, but I ask why has the penny remained for hundreds of years while several other coins the United States has minted disappeared? Why must we continue to produce coins which are worth less than nothing? Why did the penny not die out in 2006? Why do we make coins that simply aren’t worth someone’s time and money? The penny wasn’t always the smallest unit of currency that the United States used, there existed a coin known as the…

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    the U.S should quit producing it because over time if the pennies were not minted anymore, there should be no negative price effect, in addition, the production cost is too high. The penny is hurting the United States with its expensive production cost. Pennies cost more than they are worth to manufacture. Jeff Sommer, in “Penny Wise, or 2.4 Cents Foolish?,” says, “Taxpayers lost $60.2 million on the production and distribution of pennies in recent years,”(Source 1). The one cent may not be a…

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    one. Although laws about murder may not be as serious as a laws about embezzlement, the same idea applies here. Without businesses having a standard that they must adhere to, it would be far easier and more profitable to live a life of corruption. Sure it 's easy to believe that many people have too good of a conscious to commit harmful acts, but if these acts still occur while there are tremendous consequences on the table then it would only make sense that those acts would increase in…

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    Benefit Of The Penny

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    not believe that they will never get rid of the penny because of the history that has been behind it for so long and for many other reasons. At the end of this paragraph I hope you are for the penny because of how important it is to the U.S.A If we get rid of the penny prices will go up. For example if cookies were 97 cents, the prices would go up from 97 cents to a dollar because you won't have the exact change because of no pennys. The cost of the penny is 1.7 cents more than what the penny…

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    Penny Lab

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    Introduction: For this lab, the two main topics are surface tension and pennies. Pennies are a part of the US currency, which holds a value of one cent. They were mostly made by copper until 1982 when the government realized the expenses of using copper; thus, the composition was changed to 97.5% zinc and 2.5% copper or copper plated zinc. It has a diameter of 19.05 mm and a thickness of 1.52 mm and is forged using four procedures: Blanking, Annealing, Upsetting, and Striking. The design of the…

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    Explain what is meant by an equilibrium exchange rate. The equilibrium exchange rate is commonly defined as the currency rate of exchange where both the currencies being supplied is equal to the demand for it (Economics Online, 2014). According to Glossary of Statistical term (2002), the equilibrium exchange rate that is equal to currency’s purchasing power parity. It is determined differently using different monetary standards. The equilibrium exchange rate can be stable in addition to being…

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    50 Cent Ambition Essay

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    that regard, the purpose of this essay is to explain why 50 Cent is the greatest artiste…

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    Problems Of Pennies

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    Pennies MaKenzi Bowden Snow College English 2010 October 27, 2016 The Problem of Pennies The writers grandparents know that a penny is worth more than one cent even though it only costs one cent. They always pick up pennies whenever they see them and never leave them on the ground. Benjamin Franklin once said, “A penny saved is a penny earned” (BrainyQuote 2016). If you pick up every penny that you find, they eventually will add up sooner or later. Nowadays, there is nothing that actually costs…

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