The Penny has become obsolete in American currency. It would be more practical and reasonable to get rid of the penny. It also makes more financial sense to dispose of the coin. Congress would have to pass a law and order the U.S. Treasury to stop producing pennies. America may be divided, but perhaps we can all get behind eliminating a coin that is insignificant.
1. It costs more than a penny to make a penny
It actually costs 1.82 cents to make and distribute pennies. Congress could save taxpayer dollars by eliminating production and distribution of the penny. Saving that money would be helpful towards paying the national debt, social security, medicare, or other programs.
2. Pennies are not worth what you think
Pennies have lost most of their buying power. Items for sale that used to cost one cent are now more expensive. Inflation has hurt the penny and has made it useless.
3. The composition of pennies are actually harmful
Pennies are no longer made of copper. Today, 97.5 percent of the penny's composition is zinc and the other 2.5 percent is copper. Mining for zinc can hurt water streams and have other environmental impacts.
4. Pennies are not in circulation
Many Americans today consider the penny to be worthless. When a coin is not in in circulation, it makes sense to eliminate it. Many pennies end up on the street or lost in our furniture.
5. Pennies waste everyone's time
Counting pennies in a grocery or retail store is a waste of time. Fumbling for change is beyond annoying when you are stuck in line. Time is money, and pennies are a waste of time.
6. Canada eliminated their own penny
Our neighbors to the north were able to exercise some common sense. Why not the U.S.? Canadians considered their smallest form of currency a waste of time and money. Britain, France, Spain, and Israel have also abolished their smallest units of currency. The U.S. would not be alone in getting rid of the penny.
7. Our own military abolished the penny abroad
Even the U.S. military stopped using pennies on their bases abroad. The military thought it was necessary to get rid of the penny. It is time for the rest of the country to follow suit.
8. Americans use credit cards
Most Americans today use credit or debit cards instead of cash. Also, many transactions today are online through sites such as Amazon. Not many people carry cash with them that often anymore.
9. We have eliminated coins before
In 1857, the government eliminated the half penny. So, we have a history of abolishing a coin when it is deemed useless. There is no reason to not do something that is considered practical.
10. Lincoln is much more than the penny
Sorry Lincoln enthusiasts, but we do not need the penny to honor President Lincoln. Lincoln is already on the five dollar bill, not to mention the Lincoln Memorial, Mount Rushmore, or the 344 streets named after him in the state of Illinois.
All of these points illustrate why America should rid itself of the penny. It's practical, responsible, and we have the precedence to do it. Some Americans may like to keep the penny. But when there is almost no benefit to keeping the coin, the government should do the right thing and eliminate it.
