Do you think the penny should be preserved? The one-cent piece, commonly referred to as the penny has been in a giant argument in the United States about whether if we should keep the penny in circulation, or abolish the penny totally from the U.S currency. The penny should be abolished totally from the U.S Currency for several different reasons.
To begin with, have you ever thought about the cost of a penny? If you ask a random person, they would probably say one cent. But on the other hand, according to the article, “The Cost of a Penny” by J. Wendell Shelton it states that the when the U.S Mint mints, or creates, a new penny, it costs 2.4 cents to mint, 1.4 more cents that the penny’s actual worth.
Have you ever seen a penny on the side of a road and took your time to pick it up? Many people see pennies every day but don’t pick it up. This is because the penny’s value has gone done a lot over the years. Since technology have developed so much and more digital transactions than physical making the penny almost non-existent.
According to, “Penny Anti,” the U.S Treasury loses $100,000,000 dollars annually just from making pennies. Now think about it, your annual paycheck might be $100,000 dollars but the cost from pennies would be 1000X your annual paycheck. This is one of the reasons why we should get rid of the penny, yet the government still wants to lose money from making pennies.
The U.S government makes 4,300,000,000 pennies annually more than twice the annual output of all other coins combined! That means that the penny is worthless and the government spends the most money making worthless coins. This is one of the reasons that I believe we should remove the one-cent piece from the U.S currency.
The Essay on Should The Us Penny Be Retired
Should the U.S. Penny be Retired? Nowadays, the economic activity is thought of in terms of economics alone, even though that it is directly linked to socio-political situation in every country. In U.S., people are being told that the economy will function much better, once we rid it of certain traditions that have a largely nostalgic nature. The voices of those who suggest that Federal government ...
Many people will argue that the prices would round up if we get rid of the penny, yet that would not be the case. According to The Cost of a Penny, if we round prices down and not up, businesses would attract more customers and to avoid the higher prices and people not buying anything from stores that would round up.
Many people will argue that the penny is a piece of American history and culture yet there are more reasons to eradicate the penny than to sustain it. Though I can see why some people would want to keep the penny in circulation based on its history, though the reasons to abolish it is more important.
