Preview

The Penny

Satisfactory Essays
Open Document
Open Document
323 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
The Penny
April 10, 2013

The Penny

The use of pennies is steadily declining. Most people don’t even keep track of the amount of coins they have, so it’s more than likely that they’ll think it’s useless, and dispose of it. People would throw away the pennies they have, without a second glance. Bit if we all save up our loose change, there’s a chance we’d be able to save up to hundreds, or possibly even millions of pennies. Pennies are valuable to some people, for example, coin manufactures (Source A). It allows them to make profit by using their own resources. Though it may take a while to pay with coins, (Source B Many are opposed to abolishing the penny. They are the people who save the pennies and actually use them. Like every other money, it adds up.
It’s true that you can’t really buy anything with a penny (Source C), but if you save up the pent up pennies you have, you can actually make big bucks out of the loose change. The pennies represents our pride for our country and honor Abraham Lincoln Source F). It’s a tradition, the penny has been with us for more than ten decades. It’s the most noticeable out of all the other coins. And just like our country, it also stands out. So why abolish it when it’s our pride and is what makes us unique.
Many people don’t use their pennies, there are some who even thrown them away and some who save it in their piggy banks. The penny is just like any other source of money, it adds up. The penny is one of the most symbolic creation of America. It has our 16th president’s face engraved on it and he was one of the greatest leaders who made a great impact to our country. We shouldn’t abolish the coin because it’s a historical symbol that should be honored and

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Pennies may have been useful several years ago; however, now they are inconvenient and obsolete. As an American citizen who pays with U.S. currency almost every day and almost every day, inconvenienced by the use of pennies. Pennies make even less sense provided the fact that the United States Government has made such a large amount of pennies that the materials used to make pennies are worth more than a penny itself. Other countries have already done this and it is working out well for them, therefore, there is not a reason that the same could happen to America. The pennies have become unnecessary and the government should no longer recognize them as currency.…

    • 259 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    The Penny Research Paper

    • 391 Words
    • 2 Pages

    The penny contains value that a great portion of the American population finds necessary, yet many attempt to demolish the penny for a small percentage that might possibly benefit the nation. In order to accomplish such a decree one would have to dispute against two-thirds of the American population as shown in…

    • 391 Words
    • 2 Pages
    Good Essays
  • Good Essays

    o Americans had no currency, but they were constantly buying things from Britain, so that gold and silver was constantly draining out of America, forcing some to even trade and barter. Eventually, the colonists were forced to print paper money, which depreciated.…

    • 2539 Words
    • 11 Pages
    Good Essays
  • Satisfactory Essays

    Ancient China Essay

    • 486 Words
    • 2 Pages

    Paper money was an offshoot from block printing, which is a little like stamping. People had it much easier once they had paper money was introduced. Paper money is light, foldable, and worth a lot more than coins, and takes less effort to make than many of their earlier inventions. If they didn’t make paper money we could be carrying around a lot of heavy coins instead of light notes.…

    • 486 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Under the Articles of Confederation each state was given the power to regulate their own currency. Each state issued it’s own money. As a result nobody knew exactly how much a New York dollar was worth compared to a one from New Jersey or Virginia. The more money there was in circulation, the less a dollar was worth. Finally, there was just a financial collapse and a paper money was considered worthless. For five long years the colonies experienced the worst business depression. This inefficiency to deal with the regulation of currency not only caused one of the worst depressions the colonists had ever seen but also set the groundwork for a major rebellion called Shay’s Rebellion. People were so angry that their paper money had become worthless because of the initial problem of each state creating it’s own currency, that a rebellion was…

    • 755 Words
    • 3 Pages
    Good Essays
  • Good Essays

    In modern day society, currency is an imperative part of our everyday living. From purchasing groceries to paying bills, it is integrated into practically every aspect of our culture. It is hard to imagine life without currency as a means of competitive exchange. However, in Colonial America, there were several different types of money used in numerous ways. One means of currency was not dominant over any other until well after the American Revolutionary War. The question arises, how did colonists handle fiscal transactions without a bank system in place? They did so in 3 different forms: Native American wampum, trading goods, and early forms of paper money such as “tobacco notes”. A fully functioning society is dependent upon a strong and opportunistic economy. Currency in Colonial America plays an integral part in forming the structure of society as we know it today.…

    • 819 Words
    • 4 Pages
    Good Essays
  • Good Essays

    This was very similar to the Jacksonian policy of ending the bank of the United States and putting the money in "pet banks," or state banks, around the country. However, to the dislike of Jackson, these banks were now able to print large amounts of paper money that helped fuel the economy. Populists wanted this to continue, to help counter the deflation of agricultural goods. Some Jacksonians liked this paper money, others wanted hard money, meaning gold and silver coins. The free coinage of silver and the opposition to the gold standard was a Populist quality. Sticking with just silver would allow inflation, good for the farmers, who had suffered from deflation. Populists continued the common man's fight over the currency issue. They also pushed hard for a graduated income tax. This kind of tax, forcing the rich to pay more money than the poor, soon became the law of the land with the passage of the 16th Amendment to the…

    • 730 Words
    • 3 Pages
    Good Essays
  • Better Essays

    The Stamo Act

    • 1745 Words
    • 7 Pages

    “No taxation without representation!” This was the cry that came forth from the American rebellion after George Greenville proposed the Stamp Act in England’s House of Commons. George Greenville had a plan to help pay off debt and help pay for soldiers to protect the American frontier. The Stamp Act, Greenville’s plan, was proposed on March 9th 1765 and took effect on March 22nd 1765. The act was to tax printed documents such as ship papers, legal papers, newspapers, licenses, and even playing cards. This act was passed by the British Parliament but wasn’t accepted for long from the Americans. To many it was taken offensively because taxes were originally used for commerce reasons; however, when the Stamp Act came about their money was being used for fundraiser purposes. Was Greenville’s Stamp Act plan a good idea? Although it helped pay off England’s debt and helped pay for England’s protection, it also upset those who were required to pay the extra tax with having no say as to how their money was being used (Colonial Williamsburg).…

    • 1745 Words
    • 7 Pages
    Better Essays
  • Good Essays

    By granting the power to coin money to Congress, they are not only creating a national identity in which the colonies are one, but also developing the illusion of security and safety in a unified economy. In Fundamentalism, Ruthven argues that “In the developing world economic realism can be reinforced by cultural nationalism and anticolonial settlement (Ruthven 76)”. Creating a currency that circulates through all colonies was a drastic change from the separated, broken economies of the colonies that reinforced the idea of an American identity found in American money. Colonies were now each expected to contribute money to the new Nation in exchange for protection and unity against any potential enemies, like Great…

    • 926 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Taxing Cash

    • 10277 Words
    • 31 Pages

    Cash is a paradox. Why do individuals treat certain pieces of metal and paper differently from other similarly valueless objects? Despite the above, cash is an indispensable part of modern economies and is part of a complicated monetary regime. Even though we take it for granted that the pieces of paper in our wallet offer a reliable representation of our consumption power, this monetary regime is anything but trivial Money and cash (as a form of money) allow people to engage in complicated exchanges, to store value and account for it—which is in many ways an extraordinary development.…

    • 10277 Words
    • 31 Pages
    Powerful Essays
  • Good Essays

    "A Penny for Thought"

    • 723 Words
    • 3 Pages

    The great debate of the penny is an intriguing and quite controversial one. While some may feel the penny is worthless and not needed, others argue passionately that the penny is worthy of great praise and deserves to be kept around. It is not only a great American tradition with great sentiment but it is also functional and extremely convenient. Along with unequivocal opinions, statistics are also available to prove how practical and favorable pennies really are.…

    • 723 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Class Notes

    • 6260 Words
    • 26 Pages

    The reason is that having one dollar today is worth more than having the same dollar two years in the future.…

    • 6260 Words
    • 26 Pages
    Powerful Essays
  • Powerful Essays

    The Function of Money

    • 3123 Words
    • 13 Pages

    In order to be a medium of exchange, money must hold its value over time; that is, it must be a store of value. If money could not be stored for some period of time and still remain valuable in exchange, it would not solve the double coincidence of wants problem and therefore would not be adopted as a medium of exchange. As a store of value, money is not unique; many other stores of value exist, such as land, works of art, and even baseball cards and stamps. Money may not even be the best store of value because it depreciates with inflation. However, money is more liquid than most other stores of value because as a medium of exchange, it is readily accepted everywhere. Furthermore, money is an easily transported store of value that is available in a number of convenient denominations.…

    • 3123 Words
    • 13 Pages
    Powerful Essays
  • Good Essays

    The Evils of Money

    • 714 Words
    • 3 Pages

    The first argument to how currency is evil is the hidden greed and selfishness it brings out in the sweetest of people. The little avarice embedded in us all that only the thought of getting a few coins into our hands can bring out. This desire for “cash” can poison the heart and mind of the common man and stem the tide of any pure and selfless thought that the individual would have. The ordinary man turned drug dealer, and some corporations, for example, whose only concern is largely the acquisition of “dough” neither hid the lust they possess for money nor care whether someone gets hurt in their mad quest for riches.…

    • 714 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Overall money is definitely important in today's society, as it was hundreds of years ago. We use money for practically everything. Without money, we would find it hard to purchase the…

    • 382 Words
    • 1 Page
    Good Essays