Saving The Penny

Do you ever see a penny on the ground but don’t pick it up? That’s because many people believe that it’s not worth the effort of stopping and bending down just for one cent. The value of the panny has stayed the same, but nowadays people see it as much less, almost to the point of uselessness. Getting rid of the penny could cut back on the usage of valuable resources, such as copper, and it could reduce time wasted every day when cashiers and business workers count pennies at a cash register. I believe that getting rid of the penny could eliminate problems that the near- worthless one cent piece has created.

The penny in today’s economy has become useless, yet the government still produces 4.3 billion of them per year, wasting more than 100 million dollars, according to John Fund in his article “Penny Anti”. Fund writes, “Because the penny costs more than a cent to produce, the Treasury loses more than $100 million per year on the coin’s production. Fund also writes that the penny could be costing each American citizen personally, not just the government. “ ‘Pennies are costing each of us nearly $50 a year given the average wage per hour’ ” From this excerpt, we learn that the penny is costing everyone using it a lot of money, which proves that the

The article writes, “Without pennies, people would be forced to round everything up to the nearest nickel… For example, instead of paying $29.96 for something, you may have to pay $30.” This statement is false, as the cost would be rounded to the nearest five cents, which means that in that situation you would pay $26.95 and end up saving money instead of spending more. Eliminating the penny will be more cost effective for everyone, government and citizens