The U.S government should get rid of the penny because it cost more than a penny to make a penny. In 1857, the Mint stopped making the Half-Cent coin, partly because the cost of making it had exceeded its face value, and partly because it was considered to be so small a denomination that it was no longer needed. New Zealand got rid of its penny and two-penny coins without incident back in 1989, and in 1991 replaced their two lowest paper denominations with coins. My issue is important because our government spent nearly $169 million just to put $70 million of currency into circulation. The U.S. Mint makes an average of 20.27 million pennies per day to produce its 7.4 billion penny annual output. I chose this issue because making pennies is waste of money and time.
Many people in the U.S believed that the pennies we have is useless. In 1990, U.S Representative Jim Kolbe introduced the Price Rounding Act of 1989, HR 3761 to eliminate the penny in cash transcations, rounding to the nearest nickel. On February 15, 2013, President Barack Obama stated his willigness to eliminate penny.The citizens are the one who are affected from it because some people believe rounding the prices is not a good idea. However, other people consider that rounding prices is a beneficial way to eliminate pennies. Based on what the President and the representative states, I think we should get rid of the pennies because it can save up a lot of copper and rounding up the prices would not matter.
Pennies are worthless, they cannot buy anything and many people just throw them away. My issue is important to me because putting pennies in the pocket is too heavy and they are easy to get lost as well. The issue I chose relates to my communtity because we are the one that is using pennies. This issue has an impact on my community because it costs the U.S Mint 1.26 cent to make each penny, meaning that taxpayers are losing 19 million dollars each year. Therefore, we should agree that producing pennies is wastes taxpayers money.
The U.S. cent, or penny coin, has almost no purchasing power today. (Susan Headley (October 18, 2014). The Great Penny Debate: Should We Keep Producing Penny ? Retrieved from http://coins.about.com/od/uscoins/i/penny_debate.htm.) There is 765,600,000 hours lost per year in this country because of handling pennies, or waiting for people who handle them. This statistic, which is cited by the folks at RetireThePenny.org, is the result of compiling a number of penny-handling related events, including the ubiquitous 30 second period we sometimes spend waiting for someone who just has to dig through their pockets or purse to find that last cent so they can pay for something with exact change (probably so they don’t get stuck with any more pennies.) The article had points out that producing pennies is a waste of time. So, I strongly believed that pennies are not that important for our country.
The U.S government should eliminate the penny from the coinage system because producing pennies is s waste of money. The issue I chose is should the U.S government keep or get rid of the pennies.The issue can be solved by rounding up the prices. Even if you shop two or three times a day, and even if the rounding goes against you 2 times out of 3, that is still only talking about 3 or 4 cents per day, at the most! Most people are throwing more than 4 cents’ worth of pennies into the jar or the trash every day. So, we should agree that the U.S government should stop producing pennies and eliminate the penny from the the coinage system.