Pennies are Verifiably the Worst Form of American Currency
Start writing a post
Community

Pennies are Verifiably the Worst Form of American Currency

Let's not keep the change.

43
To the left, a jar of pennies is viewed from the top. To the right, a pile of shiny pennies is blurred into the background.

When an American citizen thinks of Abraham Lincoln, they may think of his works toward abolition and being a highly accomplished president. Yet they most likely will turn to where they see him most often: on money. While the coin itself has been around since the 1700's, Lincoln's face has been on the obverse side since 1909 – when it was worth thirty times the value in 2021. Keeping pennies in circulation harms the economy, the environment, and are costing the American public more time than they are worth.

There are some sentimentalists that believe that the penny is as integral to the United States as a dollar bill, and while this is simply incorrect, the opinions are very strong. One argument given is that this will lead to businesses rounding all costs up to the nearest nickel, and disproportionally hurt poorer citizens. It is also argued that the American public wants to keep the penny for sentimental reasons, and point out that nickels are more expensive to make, and therefore would not be saving the US Mint any money at all. An attempt at sentimentalism may point out that charities often host "penny drives," while ignoring the fact that nickel, dime, or quarter drives may possibly increase these same donations twenty five times over.

Another popular stance states that the US will go into tremendous debt if they stop making the penny, since the nickel costs 9 cents to make. While not incorrect about the cost of the nickel, there is no real reason the Mint would need to produce more nickels than they already are each year; the only cost difference would be eliminating that of the penny. In 2018, is cost the US Mint 2.09 cents to make each individual penny: 1.78 for production, 0.25 for administration costs, and 0.03 for distribution costs. In 2019, this totaled to the production of the penny costing taxpayers $145 million on 7.04 billion pennies. With inflation rising steadily each year but the value of a penny remaining stagnant, this cost to Americans will only go up every year that the penny continues to be made.

While the US Mint is very clear and forward about many of the costs related to the final steps of making a penny, there is absolutely no available information on the cost per coin of the mining, smelting, minting and shipment of the materials for the coins, all of which have very harsh impacts on the environment. And while the Mint has gotten much more efficient and environmentally friendly, Congress admitted that there are absolutely no more options that could make the penny either cheaper, or more environmentally sound in a statement issued in 2014. While Mints around the country are working to be greener through methods like wind power, the cost on the environment of the materials used unfortunately may outweigh such a good practice. Reports on where the zinc in pennies come from is a mess to try and understand, as the US Mint claims it is from Canada, while Jarden Zinc Products, an American company, claims to be the sole company producing penny blanks to the Mints. Jarden claims to use the mines in Tennessee run by Nyrstar, the only American zinc miners in the States, but Nyrstar claims to have never worked with Jarden. Considering the weight of pennies produced in 2014 equaled 22,450 tons of zinc and copper, knowing where and how these products are mined is essential to truly knowing the impact on the environment, and this is information the US Mint clearly does not want consumers to have.

Lastly, we can add these previous factors together with another invaluable resource: time. In 2015, the average American worker made well over a penny a second, and based off the time it takes someone to bend over and pick one up off the ground, it would technically cost them more time to stop and pick it up rather than let it be. Between the amount of worker compensation, energy, and overall time committed to making pennies every year, there are absolutely no benefits to the American life brought by this shiny little coin. Since the late 1980's, both chambers of Congress have received multiple bills to eliminate the penny, leading to even more wasted time and tax dollars. Just when the American public thought the penny was only of monetary value, it proves itself to be a time waster as well.

Overall, there will never be a truly good reason to keep the penny that is not trying to appeal to the pathos of society. Hopefully one day the government will wake up to the detriment this tiny coin brings, and bring real change to the table to abolish it. Despite naysayers, logic, reason and proof will always point to the expulsion of pennies being the best for Americans monetarily, the earth, and even our time.

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
Student Life

Waitlisted for a College Class? Here's What to Do!

Dealing with the inevitable realities of college life.

59166
college students waiting in a long line in the hallway
StableDiffusion

Course registration at college can be a big hassle and is almost never talked about. Classes you want to take fill up before you get a chance to register. You might change your mind about a class you want to take and must struggle to find another class to fit in the same time period. You also have to make sure no classes clash by time. Like I said, it's a big hassle.

This semester, I was waitlisted for two classes. Most people in this situation, especially first years, freak out because they don't know what to do. Here is what you should do when this happens.

Keep Reading...Show less
a man and a woman sitting on the beach in front of the sunset

Whether you met your new love interest online, through mutual friends, or another way entirely, you'll definitely want to know what you're getting into. I mean, really, what's the point in entering a relationship with someone if you don't know whether or not you're compatible on a very basic level?

Consider these 21 questions to ask in the talking stage when getting to know that new guy or girl you just started talking to:

Keep Reading...Show less
Lifestyle

Challah vs. Easter Bread: A Delicious Dilemma

Is there really such a difference in Challah bread or Easter Bread?

38235
loaves of challah and easter bread stacked up aside each other, an abundance of food in baskets
StableDiffusion

Ever since I could remember, it was a treat to receive Easter Bread made by my grandmother. We would only have it once a year and the wait was excruciating. Now that my grandmother has gotten older, she has stopped baking a lot of her recipes that require a lot of hand usage--her traditional Italian baking means no machines. So for the past few years, I have missed enjoying my Easter Bread.

Keep Reading...Show less
Adulting

Unlocking Lake People's Secrets: 15 Must-Knows!

There's no other place you'd rather be in the summer.

959704
Group of joyful friends sitting in a boat
Haley Harvey

The people that spend their summers at the lake are a unique group of people.

Whether you grew up going to the lake, have only recently started going, or have only been once or twice, you know it takes a certain kind of person to be a lake person. To the long-time lake people, the lake holds a special place in your heart, no matter how dirty the water may look.

Keep Reading...Show less
Student Life

Top 10 Reasons My School Rocks!

Why I Chose a Small School Over a Big University.

196948
man in black long sleeve shirt and black pants walking on white concrete pathway

I was asked so many times why I wanted to go to a small school when a big university is so much better. Don't get me wrong, I'm sure a big university is great but I absolutely love going to a small school. I know that I miss out on big sporting events and having people actually know where it is. I can't even count how many times I've been asked where it is and I know they won't know so I just say "somewhere in the middle of Wisconsin." But, I get to know most people at my school and I know my professors very well. Not to mention, being able to walk to the other side of campus in 5 minutes at a casual walking pace. I am so happy I made the decision to go to school where I did. I love my school and these are just a few reasons why.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments