1. Pennies
The penny is not worth the metal it is made out of. It is a coin that cost more to make than it is worth. The crux problem with the penny, in the modern economy, is that it will buy you nothing. Since nobody has the time to do a sales tax calculation in their head while waiting in line to buy their products, and even if you did the time would not be worth digging through your pockets, or purse, for exact change. No state will accept pennies in bulk and very few machines still take pennies. The only reasonable thing to do with pennies is store them in a giant glass jar and then dump them in a Coinstar, a machine that charges you 10% to spend money that you already have. The penny, at this point in time, manages to be both extremely useless and impractical, it is a Congressional gaffe that the penny is still being made. Making the penny is not cost effective, and pennies do not get used anyway.
The penny is currently an out of date, economical blunder. As you probably know the penny is worth exactly a hundredth of a US dollar. This is all well and good, except the fact that it takes one and one half a cent more to make a penny. This means every time the U.S. Mint produces one penny it wastes one and a half cents. This may seem insignificant, however, according to the U.S. Mint almost 5 billion pennies were produced in 2011 alone. That is 50 million dollars in pennies, at a cost of 7.5 billion dollars, so in just 2011 taxpayers lost 7.5 billion dollars just to make pennies. In the scope of government this may not be a lot of money, but when every dollar is money straight from your taxpaying pocket, 7.5 billion dollars in a year is an inexplicable amount of money.
Some misled proponents of the penny believe that the cost is irrelevant since the penny is tradition. "How can we get rid of a minted coin?" they may ask. The answer is the same way we got rid of minted coins in America before.
"Ha"penny" "Ha"penny, a short story written by Alan Paton, is about a young orphan who wants to be taken in by a family. ... Ha"penny is a mosuto, which is a member of the Black South African people. ... Ha"penny is a little nervous because he is afraid his mentor will figure him out. ... Ha"penny always wrote to her, but she never replied. ... Most important, she is ashamed and regrets not ever taking Ha"penny in. ...
In 18th and 19th century, pennies were useful because the penny itself could be used to purchase certain goods and services. Bread, for example, only cost a couple of pennies. ... Since individuals cannot really derive any utility directly from the penny, many people have begun to deem the pennies as negligible. ... Although historically pennies were valuable and necessary, pennies are now just a legality. Most consumers do not keep track of pennies or desire to have pennies cluttering their wallets, pockets, or purses. ...
The penny. ... To start off, the penny should be abolished because the value of the penny has greatly diminished in the last few decades. ... Secondly, the penny should be abolished because it is very inefficient. ... If the penny was efficient, then we wouldn't have penny cups" next to every cash register. ... In conclusion, the United States should abolish the penny. ...
The penny is literally worthless. ... So whats the argument of the pro-penny team? ... The fact of the matter is that we all grew up with pennies. ... So of course the penny manufacturers will defend the pennys cause. ... Other concerns from retiring the penny draws from charitable causes that depend on the penny, and the poor being harshly affected by its discontinue. ...
Mint changed the composition of the pennies. ... We are not allowed to damage the pennies in anyway. ... We then proceeded to drop one penny at a time into the graduated cylinder to see the volume of each individual penny. ... The year before the penny changed the average mass was 3.1 grams. During 1982 the penny fluctuated between 3.0 to 2.5 grams. ...
Three weeks ago I went to view a play entitled "New York Values" which was written and performed by a very well known artist around the globe named Penny Arcade (her actual name is Suzanne Ventura). ... For the simple fact that Penny performed this play as a one-woman act, one could say that the play "New York Values" took on the characteristics of a monologue and the comical gestures in the play made it seem like a stand up comic show. ... In many instances throughout the play, the main character Penny forgot a large number of her lines. ... The intent of Penny's play was basically t...