Should the penny be eliminated
A debate exists within the united states government, and american society at large, over whether the one-cent coin, commonly called the penny, should be eliminated as a unit of currency in the united states. If the penny were eliminated, then manufacturers would be forced to round off to the nearest nickel, thus meaning that there would be a possibility that the price of a good will go up (if the price is at 3-5 cents) or down (if the price is at 0-2 cents). Why we should kill the american penny economy feb 8, 2013 11:00 am edt paul solman answers questions from next avenue readers about what the us mint can learn from canada about the penny and . So, why eliminate this 200-year old icon when there are still so many things you can do with the penny in the final analysis, the reasons not to continue to mint it outnumber those to keep it in .
Pundits are arguing over getting rid of the penny as us currency we try to make cents of the issue and 77 percent of americans worry that prices will rise if the penny is eliminated because . The canadians are getting rid of their penny let them let's be smarter than they are and cling to ours like ivy on a garden wall. Easy to lose and expensive to produce: is the penny worth it billions are minted every year, but they cost more than their face value to make.
Citizens for retiring the penny, a non-partisan, grassroots organization, calls for the elimination of the penny to save money and time. Etire the penny penny arguments pennies jarden corp money penny argument pennies us currency get rid of the penny nickels jarden corp pennies penny penny currency mint politics news eliminate . The penny may be worthless, but let’s keep it anyway august 23, 2017 832pm edt the 16th us president has graced the penny since 1909 why eliminate the penny. They know the penny is a nuisance as evidenced by the fact that trays sit by every restaurant and convenience store cash register so people can leave them behind or pick them up for sales tax . Penny supporters point out that that if pennies are eliminated, all cash transactions will have to be rounded off to the nearest nickel according to americans for common cents , this will lead to a “rounding tax,” as stores manipulate their prices to ensure that transactions are always rounded up instead of down.
Everyone knows that a penny is worth one cent but do you know how much it costs to make a penny almost two cents that’s one reason many people think the us should stop minting, or producing, pennies. Because of this, the us mint should reduce their penny production eliminate the cent and round all cash purchases to the nearest nickel there will not be a . The penny's supporters argue that the coin remains valuable in several ways, and that cost-reduction arguments are largely myths because they include fixed costs that would continue to be incurred for minting other coins even if the penny was eliminated 22 they point out that charities have used the collection of pennies as a way to raise . The penny has outlived its usefulness and should be eliminated, former us mint director philip diehl said.
The penny, a copper and zinc coin, that represents one cent in the united states currency, is as american as apple pie it is part of our heritage to honor and recognize our founding fathers and past presidents for their contributions to the economic system of america. In my humble opinion, the only real problem with the penny, at least the american one, is that cost more to produce than it actually worth i do not remember the exact amount, however, i believe . The penny is worth more in metals the penny is a waste it costs large amounts of money to create, and is little help corporations should simply add however many cents to the usually 99 cents tax to round it up, making there no need for the penny but boosting the economy and saving people's wallet space. Perhaps the argument should be to eliminate both the penny and the nickel dimes and larger denomination coins cost less than their face value to produce . Why pennies should be eliminated as currency the penny is not worth the metal it is made out of it is a coin that cost more to make than it is worth the crux .
Should the penny be eliminated
Canada has stopped producing the penny coin, deeming it waste of money - should the us, and other countries follow suit. Should the penny be eliminated 6 17 jul, 2016 in coin sets / research tagged lincoln cents / us cents by kevin this is a question the us has been determining for . Canada is dropping the use of its penny today and some economists believe the united states should be following its neighbor's example the us mint spent 2 cents to produce and ship each of the . Don't you dare eliminate the penny which would be precisely why we should insist that the united states keep making it it can remind the country of how properly to conduct monetary policy .
- Penny-defenders have claimed that charities -- the kind that hold penny drives and rely on small change donations -- would lose out if people didn't have the red cents in their pockets, or in jars .
- Why eliminate the penny one of the most compelling reasons cited for getting rid of the penny is the fact that it’s become unprofitable due to inflation and the rising cost of metals the us mint has been losing money on every penny it’s produced since 2006.
- The penny should not be eliminated from the united states currency system the penny is the one-cent coin, worth one-hundredth of an american dollar, the lowest denomination coin of the united state currency.
Penny myths & facts any move to eliminate the penny would be regressive and hurt unbanked americans who have no other option and lack the means to make non . Yes, the penny should be eliminated the main reason for the deletion of the penny is cost the penny being worth one cent by itself costs around 15 cents to manufacture.