How Informative Essay: How Important Is The Penny?

How Important is the Penny? The one-cent coin, commonly known as the penny, was made legal by the Coinage Act of 1864. On the penny that we carry in our pockets, is the face of the 16th President of the United States, Abraham Lincoln. Throughout the years, the penny has helped shape our culture, by giving us sayings and idioms, such as ¨a penny for your thoughts¨ and ¨not one red cent”. Over the years, the penny has seen many things, yet now a conflict has arisen: Should the United States keep producing the penny? I believe that the United States should no longer spend time and money on producing pennies. From time to time, we find an isolate penny in a pocket or purse; however, we never seem to find them in our pockets when paying for a cup of coffee that costs $2.02. This scenario shows one of the main reasons I believe the production of the pennies should stop. In our day and time, most people do not use pennies when paying for things. Most people do not even pay with cash, as
Why does the production and distribution of this coin costs so much? In Article 1, it says that it costs 2.41 cents to produce and distribute each zinc and copper coin. In essence, it costs more than twice as much to produce the coin than the coin itself. In Article 1, it quotes Francois Velde about the production of the penny; “From the standpoint of economics, that’s just a total waste of money”. In Article 1, Jeff Sommer says that we are paying for pennies just so they can stow them away in drawers and on top of dressers. Some people say that this will cause outburst throughout America, but a number of countries have already dropped their lowest coins, and there have been no significant impacts. In conclusion, should the production of the pennies end, the United States would save lots of time and millions of dollars that they could spend on something more