The Penny

Topics: Penny, Cent, Retailing Pages: 1 (384 words) Published: September 1, 2013
The Penny
We can’t buy anything with a penny any more. The value of a penny has gone way down. Just finding a penny in a pocket or a purse is a waste of time. Most pennies are not even used anymore. “Two-thirds of them are immediately drop pout of circulation, into piggy banks…” (C)

We never hear of a “penny store”. We may hear of a “dollar store” (C), but because of the value of money has gone down, us Americans cannot buy the same thing we may of bought 60 years ago, “it takes nearly a dime today to buy what a penny bought back in 1950.” (C) We cannot even use a penny in vending machines, it is not accepted.

Pennies are a waste of time. People look around in pockets and purses for them. It is one cent, it is definitely not worth the time, “that’s why you see “penny cups” nest to every cash register; they save the seller time…” (C) Because of all this wasting of time, it is found that “if each person’s time is worth $15/hour then we arrive at the conclusion that each person is losing $60 per year, at a cost to the nation of over $5 billion per year.” (B) Not even to mention that is takes almost eight cents just to make the actual penny. “The Brits and the French… dumped their low- denomination coins 30 years ago…” (C) Now it is our turn.

Which brings me to my next point, with that amount just to make a penny, most of the pennies are not even being used. Some are found “behind chair cushions or at the back of sock drawers…” (C) Pennies get lost because they lose purpose and meaning. They are practically worthless. “Quarters and dims circulate; pennies disappear because they are literally more trouble than they are worth” (C)

The higher the income, the less percentage people oppose to abolishing the penny. The penny has no use to the higher incoming people. (E) Although the penny honors our sixteenth president, there is no need for the penny. We can barely use it anymore and it is a complete waste of time. Most of the pennies are not even in...
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