Friday, September 26, 2008

Is it Time to abolish the Penny?





With all the doom and gloom of the previous week, I thought it was time for a lighter post. Follow the link above to an activist website dedicated to abolishing the penny. As you know the Mint just announced its plans to introduce four new designs for the penny. Leave your thoughts on this and on the penny in general.

72 comments:

Stephen (BOLD) Font said...

I think the new penny designs are pretty lame. I like the penny, but if they should do anything to the penny, they should get rid of it, not spend time and money spicing it up. However, if they had honest abe in a cool pose or a top hat and beard on the penny, i would be all for the new penny. I don't want to get rid of the penny, and I think that all of these statistics on how much time we're wasting because of the penny is pointless. You can say that about anything.
You could say that tying yor shoe laces wasted 5 minutes of your day, so over a year you waste almost 2000 minutes tying your shoe, when you could have been making money, so we should just get rid of shoelaces. Either get rid of the penny or deal with it, just don't talk about how bad it is. Nobody really cares, its just a penny.

Unknown said...

Honestly, it's a waste of time to sit and keep talking about it like they have been for years. It's simple either keep it or don't. Sometimes pennies do come in handy when you barely have enough to grab something from the store. The time that we waste trying to scrounge for the pennies in our pocket really doesn't matter we live life to fast as it is. They come up with these ridiculous reasons to get rid of it. Who cares if it takes a transaction half a second longer to complete just because of the penny. Honestly, someone needs to think about how amazingly stupid that sounds.

Justin Popp said...

i agree with esteban, big deal its a freakin penny. Sure its great to honor American heritage but in the current crisises we face, i believe our leaders and our government have more important things to be doing with their time. The world is coming to an end as we know it and we are making an invaluable piece of currnecy our priority. Good Choice.

Nick Veselka said...

I think the idea of changing the penny is pretty stupid and getting rid of it all together is worse. You need pennies to pay for cheap stuff. The penny has been the same for many years and it is one of the only pieces of currency that has yet to be revamped. But i think the penny is a symbol of americanism and a great man, Abraham Lincoln, who has done many great thinks for this country. The penny should showcase his face, the face of a great man, and not the log cabin of a great man. Not everything needs to be changed and I think sometimes old is good because it helps us to remember and honor the past and our ancestors. America is the greatest!!

Anonymous said...

Who cares about a penny? Why waste money to make them? They cost more to make than they're actually worth. And the new design? Give me a break. No one cares what the penny looks like. Most people just drop them on the ground and leave them there anyways. Why not spend the money used to make pennies for better purposes?

Adam Cheer said...

The idea of redesigning the penny is stupid, but the penny itself is good for prices. The penny gives more flexibility and elasticity in pricing. Does the United States not have better issues right now (ECONOMY) then redesigning the freaking penny? Changing it to a log cabin isn't going to make me like the coin anymore.

Anonymous said...

Most americans lose change right and left. It is a rare occurrence (or, it is from my observations and experiences) that one pays for a product or service with exact change. Although the idea of giving the penny a "make-over" is a good idea, in theory, I believe it's not going to change the amount of times we actually use it. It's kind of like when they re-did the quarters. Americans got really excited about collecting all 50 new designs, but that excitement wore off very quickly. Did it change anything? Not in my opinion. I personally believe it is useless to redesign the penny, but further produce it at all. It costs more to make it than it's actually worth, so why bother?

ILLERTHANSICK(: said...

I think it's absolutely pointless to design the penny. It's barely worth anything, and it's not like anyone sits and admires pennies anyway. It costs more to make the new design than the actual cost of the penny. Sometimes they come in handy, but the actual "look" of it doesn't really make a difference. It's just complete insanity and nobody cares about a coin that's only worth a cent.

-Tracy Kwong

Anonymous said...

I wonder who comes up with these lame ideas of revamping the penny. Plus, some stores are not even using the penny anymore. The other day I went to marble slab and the change i was supposed to get was a penny but the cashier didn't give it to me. This also happened at another store. Cheap people want their pennies too!

michael levin said...

I don't believe they should abolish the penny. The unit of one cent is important when purchasing things, and to remove the cash version of the one cent will likely cause more problems in cash exchanges. Although it may be true that people waste 2 to 2.5 seconds handling pennies, if pennies are abolished they would still have to hunt for nickels - and possibly waste more time rounding to the nearest 5 cents.

However, if the U.S. is really paying more than 1 cent to make each penny, then they should definitely use cheaper materials. If people are considering abolishing the penny, surely they wouldn't object to making them out of less valuable materials.

Anonymous said...

I agree with the article that if a penny costs more to make than it is actually worth than yes theres not really any point in making them any more. But the articles second point about wasting time, i think , is completly irrelevent. Saying a penny wastes time because you have to look for it is just like saying we should get rid of shoe laces because they take too long to tie or traffic lights because we waste time and gas idling at them when we could be doing something else.

Anonymous said...

Why exactly are we even debating on this? Aren't there more pressing matters at hand? The government never fails to astound me at how ADD they can be. Anywho, I guess it's a nice idea to do the whole Abraham Lincoln life thing on the penny, but why are we spending more money and time redesigning it? It seems clear that we are loosing money in the manufacturing of the penny. The way i see it is we really don't need to wast anymore money that we already do. The dollar is already lost so much of its value.

Anonymous said...

This penny debate is pure nonsense. There are surely more pressing matters at hand. The statistics about pennies wasting time are ridiculous, what am i going to do with 5 extra seconds? The argument that the creation of new pennies is, however, valid in my opinion. I believe the government should keep producing pennies and not play around with trivial matters such as this.

Anonymous said...

I don't get why everyone is making such a big fuss about whether or not to make the new penny or not. Our economy is crashing as I type this blog. Our country is falling apart and our government has much bigger issues to deal with than think about new pennies. I honestly don't remember the last time I actually used a penny. The penny was useful back in the day when gas was a dollar and candy was 10 -15 cents. Now we are lucky if we got something useful that costed less than a dollar. Instead of using all this money to make new pennies, why don't they use that money to help our country with more useful things? I just think this entire controversy about making the new penny is a waste of time!

-Swati

Anonymous said...

I think the penny should just be left the way it is. There really is no point in wasting money on re-designing it. I mean the whole idea of it honoring Abraham Lincoln is nice and what not but it isn't really necassary. But I also don't see the point in "aboloshing" the penny. Just leave things the way they are, it is stupid to be arguing and debating over what to do with the penny, I never thought anyone would really care that much about the penny at least not enough to be debating over this, there are definatly "bigger fish to fry".
Kimberly Gallegos

Anonymous said...

Most people treat the penny like garbage so I don't think its really that necessary to redesign the penny. Most people either throw their pennies away or leave them with the register. The new design of the penny does support American heritage, but will people even notice? I can understand where adam is coming though from, when he says that the penny does help people who are in a bind. But when most people treat the penny like garbage, i think its pretty unecessary to be talking about redesigning the penny.

Livia Lin said...

The new penny designs are pathetic. Pennies themselves are rather pathetic. This whole argument is rather pathetic. DONT LISTEN TO ZINC PEOPLE of course because they have bias. Do not pay to much attention to people criticizing the poor penny to the an inch of its life either. because if you care that much about the penny your crazy. Just get rid of it already!

Anonymous said...

I think redesigning the penny is pretty useless, especially since it cost more to make them than it is actually worth. But I also think that pennies are pretty useful in evening out change and things that we pay for with cash, but i agree with everyone else, either get rid of for ever, or just deal with the fact that we have it. Personally its never been an issue for me.

Anonymous said...

Wow, stephen has a very good point. We should just stop talking about it so much, if there are enough people to get upset about the penny then i think we might as well just get rid of it so those left wing conservatives will shut the h&@l up. There are so many people wasting time talking about the penny it would be better to get rid of it so we can save the time spent on the debates and make money doing our jobs instead. We probably spend 2,000 minutes each year talking about pennies, shoot im losin money right now that could be used for pimpin but im here talkin about pennies!

Unknown said...

redesigning the penny is pretty much a stupid idea, and getting rid of the pennies in the currency system is a even more stupid idea. for many years pennies have been part of the american currency system, taking it out would just mess up evreything. I agree with Adam that pennies creates more flexibility to the prices.

Anonymous said...

i think the new designs are rather tacky. instead of making the US look better, it makes us look like rednecks. come on, a log cabin? how does that look better? we may understand the story behind it, but people outside of the US and even many in the US, won't.

Also, the penny is annoying. No one likes being saddled with them because even if you have a bucket of them, you probably won't have more than $10. Not to mention that it costs more than a penny to make them...dumb all the way around.

Anonymous said...

i understand why people would want to get rid of the penny since it costs more to make it that it's acutal worth. But it does play a vital role. Let's say you bought something that was $4.38,your're going to need three pennies to pay for the item. When you add up all the pennies that you never used to pay for something,the store that you bought from could lose up to hundreds or even thousands of dollars. I just dont see why they would redesign the penny when they need to focus on making it cheaper....

Anonymous said...

Of course the U.S. should not abolish the penny! It literally is a part of not only the country's currency, but the country itself! As opposed to other countries in the world, the U.S. currency only consists of bills that are green for the most part and coins that are silver in color. But, that one bronze coin that stands out is easily remembered by anyone!

Sure, pennies are virtually worthless, but there is history with it. Lincoln is on it, and the new designs will further recognize his brilliance and success when he was alive. I must admit, however, that spending time to create new designs is not the what the Mint and government should be focused on. Unless they are willing to send money in the $700 billion bailout in pennies, they should just focus on the big bucks and not the "chump's change".

Anonymous said...

I agree with Nick. I think that we are wasting our time trying to come up with new ways to make it look cooler. We should just stick to the old way and not have to worry about it. And I also agree with Stephen about the "Waste of Time" ideas. So what if you waste 12 seconds per day with pennies? What better could you be doing for 12 seconds? Making less than a buck..? It just doesn't make sense to me when people are so focused on money and think that that is the one thing you should concentrate on in your life. Honestley, it really doesn't mean a thing to me. I just don't get it. But anyways, I don't really think that we should get rid of it, but we shouldn't be worried about the way it looks either.

LiveLearnLove said...

The pennies are a useless coin. But sometimes pennies are used to put in the charity box besides a counter and as we can see that most objects are worth 99 cents and not a whole dollar, this is where the role of penny comes in for the businesses to keep the price lower in the eye of the customer and it is when the penny transaction comes to play.But still it is worthless, because it is a waste of time trying to remodel the penny and wasting $40 on in it every year to make it. Instead if that money is put for charity it should have had more value than wasting it to create pennies.

sjolandra said...

Well in my opinion yes the penny is somewhat worthless.And yes they need to get rid of the4 penny just like the article said when most people drop a penny they do not pick up. However,if they drop a quater they will pick up. So just by making that assumption it tells you that the peeny has lost its value. I also think that it is somewhat wasting money to produce the penny becasue it has no vaule. For example I work at Pier 1 Imports and everytime someone purchase something and It never fails that out of the quater, nickel, and the dime the penny slot is the only slot with peenys filled up. So Yes it may be be good to get rid of it.

Anonymous said...

I think they should keep the penny but not make a new one. The penny is something that has been around forever, it doesn't exactly define America but it does show one of the oldest forms of money. They should keep the pennies around until they fall out all together, getting rid of it won't change anything, it is a penny. Besides... what change to do you get back if you buy something for $.99?

Anonymous said...

To get rid of pennies would be more of a nuisance then just keeping them around. If we got rid of it we would have to come up with something that would make every transaction end with a 5 or a 0 because... well... we wouldn't have pennies. I think this would just make a bigger deal and make things complicated, but if their was some way to get rid of the pennies or change in general for the good. Then i would be full for it. Peace.

Anonymous said...

The penny is a waste of time. I hate always having change everywhere. Pennies in my car, purse, pocket, room, couch...everywhere :( If all that change could just translate to dollars, I could get some chick-fil-a tomorrow morning with "spare change" Pennies only add to my frustration. The only time I am happy to see a penny is if it is heads up for good luck! The new design is only going to put more pennies in to circulation--great!

Chelsea Pletcher

Anonymous said...

I don’t think designing new pennies or make pennies are worth the trouble. Pennies these days are worthless. Let’s face it, how many people would take the time to pick up a penny from the floor? If our economy is bad right now, why waste money and time, producing something that is worthless. I don’t’ agree with what Michael said about using nickels could waste more time than using pennies. If you have enough dimes, and quarters, when you give change with nickels, you only would give one nickel, while using pennies, there are chances that you have to pick out 1 to 4 pennies.

Anonymous said...

The idea of redesigning the penny to rouse interest again is absolutely pointless. No one goes out of their way to pick up a penny because pennies are by themselves, useless in our society. However, completely abolishing this age-old bronze coin is not correct either. Indeed the penny does hold history, but most importantly, it allows for the flexibility in coin exchange. Lastly, the fact that it takes a few more seconds to find a penny also holds true to dimes and nickels, so a decision based on that would be irrational and idiotic.

Jensine Chacko said...

Seriously, we have more imporant issues to discuss. And America is worried about a new penny design? Well that is a load of crap, we should be spending our money actually doing something productive and helpful. If a penny is really that much of a concern, then stop making it. We can live without a new penny design.

Anonymous said...

I don't know what the government is thinking, we are going through a hard time and they are spending money on pennies, seriously! The pennies circulating right now are worthless and they are just making more of them. Hopefully the new president will straight things up in Washington D.C so they don't keep doing things like this, because if they keep this up, the U.S is going to get into a big recession that will be hard to get out of.

Anonymous said...

I actually think that the Penny is obsolete. Sometimes when one sees a dime or a quarter on the floor, they say "oh!" and pick it up. But when one sees a penny on the floor, they just walk on by I mean... It's a penny. You need 100 of them to make a dollar, which can barely buy anything anyways.

So yes, it is only logical to abolish the penny, especially if it costs more to make it than what the average person thinks of it worth! With modern ways of payment such as checks, credit cards, and such, few people take the time to actually pay in cash. The penny has effectively been outdone by technology, and it is time to move on.

Anonymous said...

I’ m quite ambiguous on the penny. It can be quite a waste of space and time, and quite annoying. But when we look at the charity jars at the cashier in a drug store, we can see that they are usually filled with pennies. The accumulated pennies could mean a lot to many people who are desperately in need of those charities. If the pennies are bothering you that is one useful way to get rid of it rather than just let it fall on the ground and just lie there.

Anonymous said...

I dont think the penny will ever be abolished. We need the penny so stop talking about it. Also I dont think anyone really cares what the penny looks like as long as we have one. Maybe coin collectors but when it comes down to it this is no time to be spending money on a new "cool design" for our money. Keep the penny and keep it the way it is.

Reubin Sabu said...

I have to say that i think the new penny designs are not that great. They are also not that appealing because there really wasn't anything wrong with the original penny. Changing its look still wont get more people to appreciate it. I think the penny should stay and that the statistics they use to say that it is a time waster is ridiculous. The penny is a classic and despite its lack of worth, it still has worth which is all anyone really needs. This is a stupid reason to get rid of the penny and if people have an issue with it, then they should adjust prices so you don't get pennies back for change.

Anonymous said...

Pennies are indictative of a level of exactness that needs to remain fundameentally in our nation. Without the penny we would lose conceptions of things that are not whole. In essence when the monetary sector utilizes only a fives system then it will have residual effects to other aspects of our culture and may lead to a decline in the importance specifics down to the minute within numerical systems and thereby hurt the future of America.

Anonymous said...

I think that there is no point in redesigning the penny. No one likes having a penny with them so why take the time to redesign the penny. Its costing more to make the penny than what the penny is worth. Might as well keep the same design to save money. All over you just see pennies all around and there so what is the difference if it looks new. Its nothing important it's just a plain old penny that any one barely uses.

Sayrah Gilbert said...

I don't think we should necesarily get rid of the penny. That would screw up foreign trade pretty badly since most countries still have penny equevilants. However, I agree that it's pretty ridiculous that we're spending so much money to do something this frivilous. It seems like we could find better things to do with the revenue.

Anonymous said...

I agree with nick, although the penny might be a little inconvenient at times, If we eliminated it, it would be more difficult to buy cheap stuff. It it was eliminated the price of things could also increase because of the rounding up. The government has more important things to deal with right now like the ecomomy crash and the drastically increased unemployment rate. to be overly concerned with the penny is dumb.
*Bailey McMath

Anonymous said...

I think the penny is pretty worthless because it cost more to make it then its worth, but if you look at it in a good way pennies could be worth a lot to one individual by saving them. If you take the time to be the odd ball to pick up and save pennies they could probably have a lot of money if dedicated. I know you guys are saying what is she thinking by saying this but you can't always relate these things to only yourself. Believe it or not some people do save them and they might have more money than they thouht they did. Personally i really wouldn't be angry if it was abolished but im saying we should look at it from both sides.

Anonymous said...

Well I think we should keep the penny and stick with its old design. I like pennies. Even though they may seem worthless, they add up. My friends and I saved up spare change last year and we had a bbq party on the last day of school. When I went to Australia, a penniless country, everything was rounded off to 5s. 5 cent coins were basically like pennies and treated as spare change. So if we get rid of the penny, there might be a domino effect and eventually we won't have any coins. First the pennies, and next the nickels, and so on and so forth.

sarah burton said...

The new penny designs are stupid. The state quarters were cool because you got to look at all the different states in America but I don't really think too many people will be fascinated by the stages of Lincoln's life. I agree with a lot of people that this issue of time spent in transactions doesn't really matter that much. You spend more time waiting in line, at stop lights or even tying your shoes in your lifetime. There is a valid argument for abolishing the penny, however, when you see the cost of production.

Anonymous said...

I think the Penny should be abolished. In today's economy, a penny is worth merely nothing. On top of inflation, the economic crisis also lowered the value of the dollar, thus further decreasing the value of a penny. The cost to make a penny is now higher than its actual value, therefore it is ridiculous to keep producing them. Abolishing the penny would be beneficial to the environment as the existing pennies could be recycled for further use.

Anonymous said...

While I dont necessarly like the new image of the penny, i dont think we should abolish it. I personally like pennies. I usually have alot of change, so i like to pay in exact change sometimes to get ride of it, so without pennies it would be kind of hard to do that! Thanks to the awkward sales tax(in Texas at least)on items, that would make it even harder without pennies! It is a cool idea to re-invent the face of the penny with Licolns time line because it shows that even way back then if you worked hard you co go far even from humble beginnings; anyways, i also dont think they should spend more money to change the face of it because it is perfectly fine how it is. Besides, it makes linoln look regal.

Anonymous said...

Well pennies aren't as worthless or pointless as the average person thinks. Just know when pennies are gone you won't be able to say, "Oh, let me just give up these ten pennies because that equals a dime." Pennies add up if you must know, but there is nothing pathetic about this situation. The smallest things make the biggest impact. I believe the penny is worth something or wouldn't have been brought to our country to use. So what if it costs more to make it than to take it, just know sooner or later when the penny is gone it will be missed. If there is so much input into a penny there should more action into bigger things. Why mess with the penny, because you think that will help something? My answer is no, maybe I'm wrong, but it's not my decision just opinion.

Anonymous said...

Keep the penny! It probably takes more than a nickle to make a nickel too.

I think the new designs are are rediculous. I think its crazy to starta new penny desighn when we are 9 trillion dollars in debt.

Who cares is people take 2 seconds to handle pennies. Citizens use credit and debit cards today more often than cash anyways.

Anonymous said...

I don't think that the penny really causes such great problems. Do we really need to utilize the time lost by searching for pennies? As it is, Americans on average work harder than the rest of the world. Can't we have a break? however, i do agree with stephen (bold) font, the new designs are pretty lame.

Anonymous said...

Poor penny. You people act like the penny serves no purpose. How about all of the times when you had to pay for something that was $2.06? What would you do then? If you gave a dime, then you would be getting pennies back as change. Pennies are the foundation of America! How can we pass up or take out our lil guy who has served great purpose for many years. He (the penny) has served this country with honnor just as John McCain has. Pish posh on you people and your communist ideas. Hazzah for the penny!

Michael Manning said...

The penny has been around forever. One may draw concern from the point that it costs more to make the penny than what the penny is actually worth. Good ole Abe would be rolling in his grave if he heard talking about people getting rid of the penny. The penny is a penny, plain and simple. No one cares for them and nobody will, but get rid of the penny, and people will miss it

Anonymous said...

I don't think the penny is useless enough to completely eliminate it from our currency. But to spend time and money on revamping it seems kind of pointless. It's just a classic little copper colored piece of money. I don't see the need to revamp it. Personally I like seeing how old my coins are, and if I get a new, shiny penny it'll just upset me.
I personally think all of the new money looks ridiculous, the purple fives, the big headed nickels, the metallic on the 20, it's all too fancy. And I just don't like it. But if everything else has been redone, why not the penny? One new penny is bad enough, four new designs is just too much.

Anonymous said...

Why spend time on recreating the penny? I guess it's just another way to attract people to pennies, since they're always lost someplace--thrown in fountains, on the streets, lost in bags. The original design is fine, as long as the penny serves its purpose, though we could probably get rid of it, since most prices are almost rounded to the dollar anyway (for example, you see a lot of $1.99).

Anonymous said...

i think that remodeling the penny is COMPLETELY RIDICULOUS!!! we are already trillions of dollars in debt and we are wasting our time and money on re-making the penny. if the penny is such a hassle then they should get rid of it because in the long run it will only save us time and money.

Anonymous said...

I think that they should not revamp the penny because it is good the way it is.
When first graders are learning the value of what certain coins mean they must learn all the different pictures it has which complicates the penny as a whole, sure they can tell by the color...but what if they are color blind? did they ever think of that? so as a result, they would need to recognize four different pictures instead of just one. Which makes it easier on the little ones.
I also believe that they shoud not get rid of the penny because in Lesley Gore's 'Sunshine Lollipops and Rainbows' song the lyrics describe a penny. If we were to abolish the penny, how will younger generations know what the artist is trying to say. in like 100 years from now, will the younger generation know what a penny even looked like? so therefore the penny should not be abolished.

Anonymous said...

The new penny designs stink. They should just keep the old one. As for the argument that they should get rid of it...that is just lame. We need the penny. If I bought something that was a $1.13 and gave the clerk $1.15 I don't wanna be jipped out of my 2 cents. Although 2 cents seems small add that up over time and you could buy a happy meal!

Sasha said...

The people reporting statistics about how much time pennies take up should look in the mirror and think about how much time they're spending calculating/researching those statistics and then complaining about them. This is just silly. The penny has been around forever and has done no harm. Why get rid of something that is innocent? Not to mention, a lack of pennies would mean every price would have to be at a multiple of five. So things that used to add up to, say, $5.83, would now have to be $5.85 or $5.80. Talk about annoying. Just leave it alone.

Randy Laran said...

I think it is time to abolish the penny. I mean, the penny is only good if the total is $12.01. Pennies are not that important. So what if your down a penny. Its only one cent. Pennies should be abolished because no one uses them any more. You always find them deep inside your pocket or in your piggy bank. Plus, they have that weird copper smell. Pennies should be abolished. Nickles are okay.

Anonymous said...

I personally dislike the penny.. they are really annoying and I never use them.. I do not think it is worth it at all to create new pennies. Pennies are worth less than we pay to make them, so why make them? The money and time spent on penny production could go to so much better use!

Anonymous said...

I love the penny. It is totally useful! Their statistics are rubbish. Utter rubbish! I have to agree with Stephen's initial post. It's just a a freaking penny. What is a truly epic waste of time is sitting down and gathering information of what a waste of time the penny is.

As for the new designs, I'm not gonna lie, they are pretty lame. Keep Abe Classic!

Anonymous said...

What? its a penny! I guess that they should do something to get people excited about the penny again.I really dont see the big of it but it should make for something to look at. The new quarters new nickels and......the new pennies. I knew it was coming now or later

sarath r said...

getting rid of the penny or changing it should not this much of a big deal in the current scheme of things. u see there are other important things that these white collars need to worry about up there in the capitol, like getting the nation back on tract as far as the economy is concerned. but as a matter of fact, yes getting rid of the penny is a good ideas since it cost about 1.8 cents to make a penny. in the long run it could be major advantage. but who knows,like famours ecomist said "in the long run, we all will be dead".

Anonymous said...

I think the new penny designs are kinda weird. The penny is slowly loosing its popularity and is pretty much useless. Personally, i hate carrying around pennies and i find them just a burden. However, it is still part of our history and does not really hurt to have it around. After all, it is just a penny.

Anonymous said...

Personally, I don't really care whether or not they abolish the penny. I think it has it's advantages and disadvantages. Advantage-stuff is cheaper, without it everything would be rounded up at least 4 cents. Disavantage-they're annoying and get heavy if you've got a large collection of them. They aren't practical for purchasing anything without other coins/bills.

fingerPrints said...

We had to write an essay on this topic for our English AP last year... I guess that proves how much this topic just keeps coming up to irritate people. The penny used to be enough money to get an entire cow, or a cheeseburger- whatever it was- but now by melting it, the copper is worth more than the penny itself. Should we get rid of it? Of course not. Just because the penny is useless doesn't mean we should take it out of circulation. Such topics simply complicate things while there are just way to many more important things to worry about.
Ashley Abraham

Anonymous said...

Ew! No! We should keep the penny! Sure, it's not the most valuable coin, but it's still worth something. My question is what will we do if our total purchase at a store rings up to $2.79? If they abolish the penny what happens to that 21 cents? We would only get 20 cents. I'm cheap. I like my money, all of it. Penny's add up over time. Save the pennies!

Anonymous said...

I'm not really sure how i feel about the penny. Usually it is just an annoyance, jingling around in my pockets, wallet, between the couch cushions, in the change jar, at the bottom of my backpack. I have never had much use for the penny, but that doesn't mean i feel it should be abolished. It does have some uses for some people. I do think that the new designs are kind of ridiculous. It's unnecessary and seems like a waste of time, money, and effort.

Anonymous said...

i really hate these articles. the ones that just give your mind these rediculous calculations that always start off with "lets estimate that..." Ok, maybe the penny is losing its value, i think i heard it takes like 3 cents to make something that costs one? But come on, it does not cost the american people all this time out of their lives, we dont spend time counting pennies at times that we could be working, it happens in spare time. I realize this person is probably familiar with economics and so he thinks opportunity costs, but in that case i could argue that ive now spent 2 hours doing homework, wheres my money for that every night that i supposedly could be working, i hate it when they estimate the value of an american hour...whoever wrote this article should be payed in all pennies for the rest of his life.

Anonymous said...

Keep the penny.All I say is we don't really need all those designs.Especially know, the gov. can't waste any money at all.The time equation assumes that if we had those extra hours, we would all use them to work.I think I would just sit back and relax if I had that extra time, not try to work.

Anonymous said...

we need the penny. its the only coin thats a different color than the rest which is diversity, and america is known for its diversity. Plus i dont think the economic price tag of a penny will destroy us.

Anonymous said...

Honestly, it's a waste of time to sit and keep talking about it like they have been for years. It's simple either keep it or don't. Sometimes pennies do come in handy when you barely have enough to grab something from the store. The time that we waste trying to scrounge for the pennies in our pocket really doesn't matter we live life to fast as it is. They come up with these ridiculous reasons to get rid of it. Who cares if it takes a transaction half a second longer to complete just because of the penny. Honestly, someone needs to think about how amazingly stupid that sounds.

Anonymous said...

I believe the new penny designs are not that great. I dont see whats wrong with the old penny. Its a classic. Everyones always trying to get rid of the classics.