Penny Production shouldn’t be stopped. Some of the problems that will arise are that prices will increase, the poor will suffer, and nickels cost even more than pennies to make, thus wasting more of our money. According to Susan T Leadly, an About.com Guide, “Americans are traditionalists and the Lincoln cent is the epitome of modern day circulating coin tradition.” We must keep using the penny because eliminating it would hurt us, not help us.
First of all, prices would increase, and nobody wants that. Everything will round up to the nickel, and thus costing the U.S and us for the things we buy. According to Penny Debate, “Merchants will probably round everything up in their favor, costing us more for everything we buy.” This will impact on our daily everyday lives and, an example of that would be, every time we go to the grocery store we will be charged more for what we normally get at a cheaper price. Another point is that the poor will pay the most for the raising of prices. They are the most likely to make small, frequent purchases and will suffer the most for the rounding up to nickels.
Charities need pennies, and the charities that depend on pennies to fund a big part of their income are going to have some major losses. Nobody will want to donate some loose change, because people might think nothing of pouring out old penny jars, but they wont part with nickels so easily. And finally, nickels cost even more to make than pennies. The U.S mint can make five pennies and still lose less money than making just one nickel.
So to avoid paying more, bankrupting charities, and making the poor suffer more than they have to, keep the penny. [continues]
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