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Abolish The Penny Essay Scholarships

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It s Time to Abolish The Penny! Essay - Argumentative Persuasive Essa

It's Time to Abolish The Penny! Essay

Between 2001 and 2006, there has been an increase of .6 cents for the reproduction of the penny. This increase displays economic problems that may lead to fatal ones. The penny is composed of 2% copper and 98% zinc. These elements are exponentially in demand causing the price of these materials to skyrocket. Many Americans think the penny is putting our country in jeopardy with financial losses. This meaningless coin is losing money for the mint, and should be abolished.
The penny costs 1.4 cents to manufacture each time at the mint. This is causing the mint to lose money for the treasury. Last year, the mint earned $730 million dollars in profit. Many mint officials claim the estimation will be about $45 million due to the cost of metals made in pennies. Our country is continuing to have a very strong economy with the stock markets going up. The penny might affect these benefits from the rapid production of these coins. Copper and zinc are the main elements that compose the penny. With the rising costs of these elements, the economy may back up a bit. Because of this, the U.S. mint should reduce their penny production.
The Lincoln penny has produced excessive amounts that has resulted in outrageous mintage numbering into the billions. While the cent production has surpassed the one billion count in the 1950's, a change has taken place. The Denver Mint had assumed the role as the nation's main source for the Lincoln pennies. The 1952 production of 746,130,000 D-mint cents quadrupled the Philadelphia output. As a result, Denver struck more than one billion Lincolns in the late 1950's. Into the era of the 60's, Philadelphia, Denver and San Francisco minted a total over 33 billion coins. The penny production d.


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. across the country. An item costing $9.99 sounds a lot better than $10.00. Putting the price into double digits may influence the customer of declining the item that he/she wants. With the rising costs of the nickel, this could lead to rounding up prices to the nearest dime. There's so many results that could happen in our country's future. This change could lead to disastrous
outcomes but satisfying ones as well.
Today, the small cent is once again too expensive to produce, and too irrelevant to bother with. Eliminate the cent and round all cash purchases to the nearest nickel. There will not be a gain or a loss from two more cents on the transaction. There won't be any dwelling over the situation. It is time for the United States of America to grow up and abolish this meaningless Lincoln penny. The penny has been a complete fiasco.
Let the cent go!

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Claim of Policy Should We Abolish the Penny

Claim of Policy Should We Abolish the Penny

The standard Abraham Lincoln penny has been around for almost one hundred years. It was created in 1909, because that year was the centennial (hundred year anniversary) of Lincoln's birth. People have many opinions about the penny both good and bad; however, the notion of not needing it is true and justifiable. What follows are, statistics, evidence, and results of a survey to support this claim.

The penny is known for its copper features, and being worth a cent. The composition of the penny is not only copper, because other metals are used to make it. The penny is made of 97.5% zinc, and 2.5% copper. Zinc is a cheap metal but the total value of the penny is over a cent. There is eight tenths of a cent of zinc and three tenths of a cent worth of metal in an actual penny (1). These figures added up equal 1.1 cent and it is even higher when actual labor is included in the equation. America is losing money on every penny that is made. It does not take a business connoisseur to know something isn't needed if the value is worth less than the construction. Why waste money on something not needed? America has enough problems, and wasting money should be our last desire, especially if pennies are worthless.

In our economy, there is barely anything that cost one cent. Yes, pennies help us to pay in exact change, but if there are only a handful of items that cost between one and four cent, those items should be sold in bulk equaling a nickel. Thus, the price on an item should be rounded to the nearest five cent. Yes, five pennies equal a nickel, but why should a person waste that much space in there pocket or change pouch? Pennies waste space and create the illusion of having money. In our society, it takes about a dollar to buy something useful. There aren't many people that carry a dollar worth of pennies on them, so if merchandise was rounded to the nearest nickel what would be the point of pennies? When I was child, I loved pennies and felt I could buy the world with them until I was old enough to go to the store to use them. I thought I had a pocket full of money and I tried to buy everything, but I was sent home empty handed. Most children who have pennies think the same way I did. However, it's not nice to have a child thinking they have something when they really don't. Furthermore, going through the situation I went through and now knowing how valueless pennies really are, I often throw them away for good luck.

Abolish penny essay

Abolish penny essay

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Safire Calls for Abolishing the Penny

06/02/2004 Safire Calls for Abolishing the Penny

William Safire takes a break from warmongering to fire on a new target; namely, the Lincoln penny: The time has come to abolish the outdated, almost worthless, bothersome and wasteful penny. Even President Lincoln, who distrusted the notion of paper money because he thought he would have to sign each greenback, would be ashamed to have his face on this specious specie. That's because you can't buy anything with a penny any more. Penny candy? Not for sale at the five-and-dime (which is now a "dollar store"). Penny-ante poker? Pass the buck. Any vending machine? Put a penny in and it will sound an alarm. What's really behind America's clinging to the pesky penny? Nostalgia cannot be the answer; if we can give up the barbershop shave with its steam towels, we can give up anything. The answer, I think, has to do with zinc, which is what pennies are mostly made of; light copper plating turns them into red cents. The powerful, outsourcing zinc lobby — financed by Canadian mines as well as Alaskan — entices front groups to whip up a frenzy of save-the-penny mail to Congress when coin reform is proposed. Hah. Silly man. It is not the zinc lobby that preserves the penny, but rather an unholy alliance of coin collectors and state taxmen. Seriously. Proposals to abolish the penny have been around forever (one even made it into a West Wing episode ), but it'll never happen because it would screw up the sales tax. Indeed, during the depression, rather than getting rid of the penny, sales tax tokens (scroll down) were created so that states could charge a sales tax rate of a fraction of a penny.

Safire Calls for Abolishing the Penny

William Safire takes a break from warmongering to fire on a new target; namely, the Lincoln penny: The time has come to abolish the outdated, almost worthless, bothersome and wasteful penny. Even President Lincoln, who distrusted the notion of paper money because he thought he would have to sign each greenback, would be ashamed to have his face on this specious specie. That's because you can't buy anything with a penny any more. Penny candy? Not for sale at the five-and-dime (which is now a "dollar store"). Penny-ante poker? Pass the buck. Any vending machine? Put a penny in and it will sound an alarm. What's really behind America's clinging to the pesky penny? Nostalgia cannot be the answer; if we can give up the barbershop shave with its steam towels, we can give up anything. The answer, I think, has to do with zinc, which is what pennies are mostly made of; light copper plating turns them into red cents. The powerful, outsourcing zinc lobby — financed by Canadian mines as well as Alaskan — entices front groups to whip up a frenzy of save-the-penny mail to Congress when coin reform is proposed. Hah. Silly man. It is not the zinc lobby that preserves the penny, but rather an unholy alliance of coin collectors and state taxmen. Seriously. Proposals to abolish the penny have been around forever (one even made it into a West Wing episode ), but it'll never happen because it would screw up the sales tax. Indeed, during the depression, rather than getting rid of the penny, sales tax tokens (scroll down) were created so that states could charge a sales tax rate of a fraction of a penny.

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Abolish the Penny

Abolish the Penny

How many times have you walked past a penny on the ground or carelessly dropped it on the floor and not picked it up, thinking that a penny is not worth your time. The Canadian mint produces nearly one billion pennies a year and sets them off for circulation where most of them will spend their time on the streets or collected in jars. The Royal Canadian Mint says it costs only 0.7 cents to make a penny but if you factor in other costs such as shipping the pennies to banks then it could add up to 4 cents per penny. Surely we have to get rid of this nuisance by proposing a bill to abolish the penny in Canada.

Pennies are heavy, a nuisance and isn't worth carrying around in your pocket. This is why most people leave them on the ground or collect them in a jar.

In fact a small study by the mint suggests that 42% of consumers would rather abolish the penny.

The bill will eliminate the penny from our currency and retailers will have to round the total after tax down to the nearest 5 cents. This bill could save consumers money on their purchases.

It costs more to mint a penny then its actual value. Eliminating the penny would be better for our economy. Pennies cost more than 130 million dollars every year to manufacture and circulate and who pays for that? Well we, Canadian tax payers do. So why do we have the penny? Well, back in the 1870's the penny was equivalent to 26 cents today, now that's a lot but because of inflation and our economy the penny is pretty worthless today. All the money the country will save on manufacturing and distributing the pennies could be used for.

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