The original penny goes back to the birth of a new nation. In 1793, the new-founded US Mint released the cent, or currently known as the penny. The American people enjoyed the diverse uses of a penny, given it was worth many times more than what it is today. It starts as pure copper; nothing else is added to the minting but pure copper. In 1856, the penny was being leavened by 12% nickle. In 1943, the penny was actually zinc coated steel, not copper at all. It went back to 5% zinc in 1944 during World War 2, and remained that way for a solid 4 decades. Up until now, the penny is only 2.5% actual copper, most of it being the thin outside coating. The rest is a cheap zinc core. According to the US Mint, each year America throws away 4 Billion dollars on penny production. Furthermore, it takes $0.004 to make a penny. If you do the proportions and rationalizing correctly, it comes out as 4 Billion dollars in exchange for 1 Billion dollars in tiny coins. The total weight for all those pennies is about 2755 tons. In the previous year, 6 billion dollars was put into production for pennies. As a miserly consumer and economist, this is the biggest waste of money history has ever seen, and nobody bats an eye. I believe, for the benefit of the common citizen, that the production of pennies should be terminated as soon as possible. Without further notice, I will begin my reasons:
1. To throw away 6 Billion dollars for pocket change is unnecessary. Six billion dollars can be used to provide many things including global debt payment, healthcare, community projects, philanthropy, or simply giving back to the people. If there are 200 million Americans today, we can give 30 dollars to each and every one of them using that money. There are many things to do with that amount laying around deep in down in the US Treasury. With tensions in Syria, America could seriously invest in aid to the freedom liberators.
2. There really isn’t confusion, if it’s 91 or 92 cents, then simply round down. If it’s 93 or 94, round up. No harm could possibly be done in that. No inflation, no collapse of American Ideals, nothing scrutinizing or financially degrading. There is absolutely nothing bad that will happen. There will be no inflation, normally Americans don’t even want their change. It ends back in the dilapidated cashier register never to be touched by the hands of man ever again.
3. Let’s talk practically here, nobody really counts out their coins to the perfect cent anymore. I did you readers the courtesy of asking 20 people at a local gas and convenience store if they pay to the perfect cent. Only 3 people actually do; the rest don’t, which makes only 15% of the average person. A bet at 15% is almost guaranteed to lose. For the people that actually do, you’re wasting your time and the time of others behind you. Fuck off with your little “try- to-be-mother-teresa” persona and save yourself a little time. Plus, do you want to carry around single cents at which have no commercial value? Honestly ask yourself that and see the results. Be perfectly straight with yourself, just don’t bother pennies.
4. Other countries like Finland and New Zealand don’t use pennies, and they’re doing perfectly fine. Why not emulate them and stop production for the single cent coin? It has already happened, why won’t America realize this? Other countries that use their lowest currency articles have use for it because it probably is a 3rd world country, or maybe you can actually buy things with it. We are children of a lifestyle obsession, poverty and tiny coins don’t concern us.
I’m practically done here, but there’s plenty of futile rebuttals you inconsiderate jerks will make up. Humans have a tendency (or rather a fetish) to simply disagree just for the sake of disagreeing out of some completely arbitrary reason. Most times you’re gonna lose that debate and really feel stupid. I’ve done you another favor by naming some common misconceptions.
“If pennies have been around from since the birth of the nation, banning it would be degrading to our national image.”
I don’t even know where to begin. Let’s start by saying that there’s an older coin than the penny called the half-cent. The half cent was actually able to buy things back then, and had the exact economical value as the US Dollar today. When America decided to take that away, nothing happened at all. It actually makes us look much more wealthier than squabbling around in our pocket change. In addition, no other country cares about our lowest currency. It’ll just be a small sub-article in the bottom of a foreign newspaper and completely disregarded. Don’t bother with the whole “Patriot-what-if” bs, it’s not going to happen.
“Yeah but pennies have been around for generations, if you took them away then it’ll upset people.”
As stated before, nobody cares about pennies. It’s so useless we don’t even realize it. Why waste 6 billion dollars from federal tax reserves so you can satisfy your cashier register instincts? There are much more important issues at hand, and you ignorant bigots want to worry about tiny metal scraps?
“Taking Lincoln off the coin is unpatriotic.”
The most patriotic group of young men and women in America are known as the US Armed Forces. They are willing to give up their lives for their country and they don’t even use pennies. Ask any marine or veteran, they didn’t use it. Also, it’s kinda degrading to find the arguably best American leader on the lowest currency. If you’re still worried about Lincoln’s image, he’s still on the five dollar bill. If you’re still worried, well nobody gave a crap when they took JFK off the 50 cent. The thing is, people just simply don’t care.
“But but but….”
Leave further arguments down below; trust me nothing will go wrong. I’m not asking people to make pennies strictly illegal, I just want to stop production. Hell, if possible, why not start a penny collection? Who knows what they’ll be worth 10 years from now? Feedback and suggestions are greatly appreciated.