Has the venerable $.01 piece outlived its usefulness? Check out the website for some of the arguments in favor of eliminating the penny. What do you think? Also check out this guys hilarious rant against the penny.
The second video is from a guy who loves pennies. Which side are you on?
90 comments:
Daniel Sanchez
2nd Period
I have to agree with John. The penny is worthless, and if weren't being made, $70 million dollars would be saved and that would be put towards a greater cause like he said, jobs. As a response to the other guy, he claimed to have 83 ways they penny could be valuable for but more than half of his reason were and still are dumb. In conclusion, I HATE PENNIES,
Todd Podbielski
2nd period
It is time for the penny to go. Although $70 million dollars is a only a fraction compared to the debt the US has, every dollar counts. To get out of the defect we are in, at some point we have to start cutting resources, it would only make sense to cut a resource that cots much more than it provides.
Zoheb Hirani
Period 2
I think that it's time for the penny to go. However, a whopping 73% of American adults believe that we should keep the penny (http://www.pennies.org/index.php/penny-news/113-73-of-americans-favor-keeping-the-penny), and according to an economist professor with a PhD from Penn State, consumers would have to pay more than $600 million a year if the penny were to be eliminated. Whether or not this is true, some questions definitely need to be answered, and action must be taken on a decision that could potentially be saving $70 million and more.
John Harris
2nd
I have been begging to remove the penny for years! I actually feel it's more disrespectful to Lincoln to have his face on something so worthless, and he still has his face on the five! which is literally five hundred times more valuable. Our government is wasting far too much money and getting far too little back.
Jennie Chen
Period 2
I agree with John for when he stated that it costs 70 million dollars to make pennies I was in disbelief. The amount of money that tax payers have to pay in order to make a coin that doesn't have much value is a huge amount. The money that is spent on manufacturing pennies can be used on so much more like improvements for the lifestyles of citizens. I believe that many US citizens do not use their pennies anyways. They will lose them or drop them on the ground and see not a need to pick them up because its cost is so little. I don't believe pennies are really necessary, however, i'm not sure if its possible to really just get rid of them either.
Brayden Theriot
4th Period
I went into the video thinking the penny was still a great idea. However, after hearing how much the penny actually sets back our country by wasting money changed my mind. It is not right for people to keep spending money for the penny to be manufactured when it could be used in many other important issues that we, as a country, deal with daily.Therefore, we should quit producing pennies, and use the tax payer's money more wisely.
Jacqueline Gann
Period 2
I agree with John Green. Pennies are a waste of valuable government money that could be put into other, more important, things such as education. The fact that it costs almost double what a penny is worth to produce it is reason enough to get rid of it. Cutting unnecessary costs from our budget can only help our economy in the long run.
Krista Killam
Period 6
I think that we should get rid of the penny. We waste a lot of money on the production of something that has no value in the end. No one likes pennies. Pennies are the one coin that a person can drop and not pick up because its not worth bending down to get. They also weigh down wallets when you have so many. Altogether, pennies should go because we could save money by not producing them and no one will have to worry about carrying around such a useless coin.
Yash Mathur
Period 6
I have to agree and say that getting rid of the penny will be benificial to our economy because a waste of 70 million dollars is a little too much, and it costs more to produce a penny that how much it is actually worth. and eventhough President lincons face would no longer be on the penny he still has the five dollar bill.
I agree with John. You something's up when the penny itself is worth more than its currency value. There is no reason for the penny to exist today.
Brian Huynh
Period 4
I agree with John. You something's up when the penny itself is worth more than its currency value. There is no reason for the penny to exist today.
Rachel Kuruvila
4th Period
The penny is more of a burden than anything. The fact that not even a penny can buy a penny shows the amount of money that is being wasted each year just to produce more pennies. With the amount of debt that the country is currently in, it would be a great asset to cut out the penny.
Nevin Thomas
Period 2
I agree with John, now I think pennies are useless listening to his rant on them. Time and money are being wasted on something that is worth even less than the effort that is put into making them. They should stop the production right now, its dumb to continue this with all of the facts. Also the other guys argument was silly and had no facts so I had to agree with John.
Paul Stallings
Period 6
I am on the side that the penny is worthless. Although the $70 million dollars the US loses when producing pennies seems quite small, it is still a large sum of money that can be used in other areas. In addition, it costs more to make a penny than it is worth. There is a problem there, we should not be producing something that costs more than it is worth. With the penny draining $900 million dollars from the economy each year, it is not valuable or used enough to warrant this cost, therefore the production penny should be halted.
Honestly, I think the penny should stay. I'll admit they somewhat annoy because I was always the one counting them up into dollars when my dad forced us to count his jar full of change he has strewn across his dresser because I knew no one would volunteer. Nonetheless, if we stopped making the penny, then everything we buy would be a rounded number like multiples of 5. Thus, everything would basically cost more because stores can't hang $0.99 on the price tag and call it a sale from $1. And besides, when people give coins to charity, most people go for the coins that are worth less to give away like making a wish into a fountain. Why would anyone waste a quarter on a wish when they could get a gumball they know they will receive in the future? 1 is what started everything, basically, so accept the penny. Their may be too many because 100 make a dollar, which is heavy when there is a jar full of them, and they may not fit into any machine, but they're still useful in a way. They may not fit in the big picture well, but they are a detail, which are always important to structure. And besides, I have a friend who owes me half a penny. They're more practical for little things, like kids making wishes or watching it spin around in those donation funnels at the Katy Mills mall. Without them, I doubt anyone would even give a kid a nickel to discover the world.
Amy Krauhs
Period 4
Patrick Stallings
Period- 4
I agree with the argument that pennies should be removed from circulation. There is obviously a problem with the currency when it costs more to make a penny than it is actually worth. The 70 million dollars that are wasted on pennies can be put to use in some other aspect of the country. That money could be put to a better use. Finally, the penny is just a burden in this modern society. Every person carries around credit cards and dollar bills. Many machines do not accept pennies anymore. Therefore, i believe that it is time for the penny to go.
I agree with John penny are absolutely worthless. For one, most of the people don't even use the penny. Its a waste of money. The other guys argument about keeping the penny wasn't that good, he was acting immature about the topic which makes me want to side with John even more
Nikhil Njaravelil
Period 4
Benjamin Kurian
Period 4
I agree that the penny would have to leave. About $70 million is wasted on something that is found on the streets and other dirty places. It will only help the US since it cost more making it than it is actually worth and is next to worthless. Tax payers money can be used for better things instead of wasting it.
John is completely right. The money used to create worthless pennies could be used toward something better. Also, I felt that both guys the videos agree that pennies are useless, but Wilson was just arguing with John for laughs because his arguments made no sense.
Christian Do
Period 3
The penny in United States currency is costing us more money to create than it's actual worth, therefor creating a deficit in which we, the taxpayers, have to cover. I believe that the only useful coin would be the quarter (for the purpose of buying candy or gumballs as a kid.) The penny on the other hand, and this extends up to the dime are worthless, you would never see someone pay in pennies or dimes unless they really want to make the seller miserable.
While I found the other video rather amusing, I agree with John Green (not just because this is John Green of CrashCourse World History and THE John Green who wrote The Fault in Our Stars). If I go to the store and I need the change, I would have to be really desperate to hand a cranky, sleep-deprived cashier some pennies. I'd also be asking for it. Just a personal opinion. Also, onto the more logical side of things, it takes 1.7 cents per penny for a penny to be made... which adds up to $70 million dollars. Not to mention, it's a waste of resources to make a 1 cent penny when it costs 1.7 cents to MAKE... Anyways, while I do not hate nor do I love the penny, I do believe it is rational to do away with the penny. Also, if I save the pennies, someday, when the penny no longer exists, someone's going to want it for 70 million dollars and I'll be ready for that someone.
In my opinion, I have to say the penny is a worthless coin being minted. Actually, it is wrong to say that it is worthless because it costs more to make the penny than what it is actually worth. So it's worse than worthless. I agree with John in that the penny should stop being circulated, as the United States loses $70 million in costs just producing the penny. Thus, I believe that the penny should stop being circulated, and the United States should put that $70 million to better use such as trying to put a small dent on reducing our national debt.
Nina Jiang
Pye 4th
The penny is probably the worst coin ever in my opinion. John Green has a good point, pennies are worthless. The fact that it takes more money to make something that is valued less is just stupid. We could be allocating those resources elsewhere. Lamarr Wilson's video is just comical, not significant. Plus I hate waiting in line at a grocery story behind a person who insists on paying the amount exactly to the last penny. These people must be carrying piggy banks in their bags.
Steve Philip
6th Period
I would have to agree with John Green's argument that the penny is useless. He presents his argument with stronger facts than does the VlogBrothers, especially when he says that $70 million go to waste in the production of pennies. Personally, I can see the advantages of not having pennies. Prices would not be $3.99, but $4.00, which is much easier to pay. Everything would be rounded, and there would be no need to fish for useless coins, which can be an annoyance. I can also see the other side and the pros of having pennies, but I felt like the arguments presented were not as strong at John Green's.
Rachel Chang
2nd period
I would have to agree with John Green's argument that the penny is useless. He presents his argument with stronger facts than does the VlogBrothers, especially when he says that $70 million go to waste in the production of pennies. Personally, I can see the advantages of not having pennies. Prices would not be $3.99, but $4.00, which is much easier to pay. Everything would be rounded, and there would be no need to fish for useless coins, which can be an annoyance. I can also see the other side and the pros of having pennies, but I felt like the arguments presented were not as strong at John Green's.
Laura Luo Pd. 4
Personally I've subscribed to the VlogBrothers and listen weekly to John and Hank's Green commentary during my free time. Yes (I know, really?), their rants make my day, as I learn something new. In this particular conversations, John Green discusses his hatred for the penny. Excluding his feelings of disgust for the penny (and the nickle), John Green's argument is justifiable. I never knew that to make a penny it would cost 1.07 cents to make, which inevitably would cost $70 million wasted money in production costs. This argument convinced me that pennies (and a nickle, costing 9 more cents) are really unnecessary to have. It's not reasonable to keep the penny and waste more production cost.
The other augmenter, Lamarr Wilson, the guy who loves pennies, states there are "83 things you can do with a penny." Personally, I do not find his argument persuasive compared to John Green because he never stated how the penny would be beneficial to the economy as a whole. He comments on weirdest things that pertain nothing to how the penny is good. While he is funny, he fails in efficiently persuading the viewers.
Sylvester Inyang
Period 2
I agree with everything john said about the penny. Even before i saw this video i was against the penny, to me its just a round piece of copper that makes my pockets heavy. Its just worthless there is absolutley no use for them. There is nothing i hate more than paying for something and getting pennies back. Even if 100 of them make a dollar you would get more out of the copper/zinc if you melted it. So i think the only coins we should have are the .25,.10, and .50
Sherin Johnson
6th period
John Green's arguments in favor of eliminating the penny seems to be more reasonable than everything that the man in the other video had to say. If the opportunity cost of making a penny is 1.07 cents then we are clearly wasting our time and money on making something that isn't even given its true value. The penny is useful in a variety of ways, but if we're wasting $70 million just to make the pennies then we're not using the right resources to make the penny. At this point in time, the penny is worthless to still be used today, but if you were to change the metal by which the penny is made into a cheaper metal, as John Green says, then there may still be hope that the penny still exists in our future.
Bethany Williams
Period 2
While the penny may cost tax payers a whopping $70 million per year, it shouldn't be removed from our currency. Without pennies, prices would rise to make sure there would be an even amount of change to give to cash payers. Working as a cashier, I hand out a bunch of pennies due to people paying with $10, 20, and sometimes even $100 bills, making their returns an odd number (i.e. $.31). Without the penny we wouldn't be able to give exact change back. And, pennies do add up eventually. So, while it's making us go $70 million in debt, I think there are other things that are causing the United States to go into a much larger debt that should be paid attention to due to their significance rather than a penny and if the penny is so insignificant, why should it get so much attention to be taken out of our currency?
Lynnie Dickson
Period 6
I have to agree with John. Our generation today and the modern society don't find any worth in the penny. You can see many kids using their pennies in the penny reshaping machine. I see no need for the government to spend more than $7 million dollars in order to conserve something that no one uses. The penny has almost become a joke that people simple use for tricks and tracing over for a circle. I want to know that tax payer money to going to necessary causes and not pathetic reasons of upholding childhood memories of the penny. In conclusion, pennies are worthless and don't have a great enough reason to be subsidized.
Aadithya Srivatsav
4th period
I believe that it is time for the penny to retire and move on. Quite simply, it's not useful in today's modern system with credit cards and the other ways that money is used today. As the following website states (:http://www.debate.org/opinions/should-the-u-s-get-rid-of-the-penny)
that to make 5 pennies, it costs us $2.40. The mint also makes 20.27 million pennies everyday! Taxpayer's money can be spent in a lot of other useful ways and it's time for the penny to go.
Tosin Olabinjo
4th period
I personally agree with John. While I understand that the public's aversion to any kind of change and insistence on sentimentalism are probably the main reasons why we still produce this form of currency, I think some things just aren't worth holding onto. If we're spending $70 million on pennies, then they're certainly one of those things.
Amy Nguyen
6th Period
I believe the penny has to go because not only is it worthless, but the amount of money in order to make it can be used for something more than just a circular piece of metal. In addition, the penny is going aganist the whole principle of Economics: to use scarce resources in the most efficient way.
Reeba Mathew
Period 6th
I have to agree with John. If pennies weren't being made then we could save 70 million dollars. The 70 million dollars could go towards paying the National Debt and then perhaps the government would tax their citizens so much. it makes sense the stop producing something that costs more that it cost and use it and use the extra money for something worthwhile.
I believe that it is time to retire the penny, because it is costing the United States money, and it is a waste of resources. I think that if we simply spent the 70 million dollars that we would save every year on welfare and medicaid, the government would see much larger returns due to more people being able to find work in the country.
Nima Faegh
4th
Skylar Romo
4th Period
I think that the penny needs to go. There are 70 million dollars in tax revenue every year wasted on an item that costs more to make than it is worth, if that does not alarm someone to oppose the penny then it is probabbly due to a personal reason that can not be accounted for at the expense of tax-payers. It is also disrespectful for president Lincoln to be on something that many do not even bother to pick up off of the floor. To conclude, I believe we should get rid of the penny immediately.
Renuka Gondi
4th period
I think pennies are not that bad after all. Even though they cost more than they are worth, in the long run we are going to have to pay more for the goods we want everyday. Instead of $4.99, every thing would be rounded to the nearest dollar. There is also another thing we have to consider. In small takeout shops or places where there is a place to donate money, most people give their pennies. If we take out the penny, no one will leave any more tips and believe it or not, it does make a difference. Also, everyone keeps saying pennies are worthless, pennies are worthless. If you remember what Mr. Pye said "Always go against the trend", it can also apply to pennies. If someone is getting rid of their pennies, you should say "Hey I will take them off your back". In time, you will have have made quite a bit of revenue. :)
Although the penny is a traditional coin with the face of Lincoln on it, it still costs more money to make a single penny than the cost of the actual coin. As the first video said, about 70 million dollars worth are wasted in the creation of the penny. That money could be used somewhere else like in welfare or maybe through social security. I like the penny, but it is not a smart investment to keep around.
Jeffrey Zhou
6th
Joshua Joseph
6th period
I would have to agree with John. The United States is wasting over $70 million on creating a currency that isn't worth having. The penny just takes up space in an individuals purse and ends up just being left behind or throw on the floor. Why keep the penny when its clear it is not worth having. I hate pennies and i believe it is time for the penny to go.
Tia Lal
Period 2
I agree with John in that the penny's time is over. I was appalled to hear that we could be using $70 million for something else, like social security and other government subsidies. I also think that putting Lincoln on the penny is injustice. He did save the nation from its biggest crisis. However, I don't think the penny will go away anytime soon because Americans have an emotional connection with the penny. How else can you pay $17.43 in exact change? What would happen to the 99 Cents Only store?
Karen George
6th period
I agree that the penny is worthless because it costs more to make it than its worth. Although I agree that the penny is worthless, getting rid of it would change the economy drastically. Prices would have to change because there would not be a way to pay exact change. Although the penny has cost more money than its worth, it has helped us in everyday dilemmas.
I agree that we should get rid of the penny. The penny is more of symbol in our economy rather than something that is actually used. However it's costing us to keep producing the penny, especially when that money isn't being put back in to our economy. People are always trying to pawn off their pennies, and it isn't worth the cost. Although it does have a certain attachment within America that may prevent it from going away.
Christine Nguyen, period 6
Considering that it costs $70 million to produce pennies, it would make sense to get rid of the penny since it is costing more to produce them than its actual value, which completely goes against the concepts of economics. It appears to be the best decision to eliminate the penny for the sake of opportunity cost. Plus, it would make purchasing things so much easier without the hassle of the random cent values.
Cecil Sabu
Period 2
Before watching the video and looking at the website, I planned on supporting the penny. We have always used the penny and it would seem weird to not have it anymore, but if its production is causing us to lose money, then we should definitely stop using the penny. It does not make sense to make the penny if making one penny costs more than one penny. We should take the money for making pennies and do something else that will benefit us more.
Personally I value the penny because they do add up and you can eventually have a decent amount of money. However America is losing money making a penny.The money spent on making pennies can go to things the debt that we are in. The penny should be abolished to benefit our country. I conclusion I like pennies, but they are not good for our country.
I have to agree that pennies are not just useless but hurting our economy. Any coin or currency that costs way more than what its worth is a detriment to our economy. The U.S does not need to waste resources on this anymore.President Obama himself has also commented on the uselessness of the penny. It is time for a change.
-Amitabha Mitra
6th Period
Elyssa Buntzel
4th p
I think that it is time that the penny go away. If we are essentially wasting $70 million on producing the penny, I think we can apply that money elsewhere. Not only is the penny annoying to have to carry around, but you cannot even buy anything for a penny. It cost more to produce the penny than what you can buy with it
Timothy Krauhs
Period 6
I have to agree with John Green. The takes more to make then its really worth. I mean the 70 million dollars the government saves can be spent making new jobs or spending on education. I also think personal that the penny is a worthless that I personal throw away and fell a great man like president Lincoln should have a higher value then .01 of a dollar.
Annie Jiang
Period 6
I believe the penny should go away because the marginal cost is larger than the marginal benefit. It takes more to make the penny than it is valued for. The penny will only hurt our economy instead of helping it.
Jocelyn Dang
6th period
I agree with John's opinion about the penny. Even though I've never thought much about the penny, it's evident that the government wastes too much money and time producing the penny, which costs very little, itself. If it costs more to produce something with little value and little use, then we need to get rid of the value. What made me really think that they penny was worthless was when he brought to my attention that the penny isn't even accepted in many coin-related machines. Thus, all the more reason to get rid of the penny!
Caroline Van Nuis
6th
I agree with John, I think the penny is a waste of money and should not be made because it has little to no function. The guy who loves pennies couldn't even come up with a good reason for the penny to stick around, and he was really annoying. If the penny was removed it would save a lot of money that we definitely could use for better things.
Tiffani Weir
2nd Period
At this point the penny serves no purpose, but to clutter my wallet. Unless you're giving exact change, which people rarely do, no one has an excuse to use them. Especially now that we have come to the point where it cost more money to produce than they're actually worth, it is time for the invisble hand to smack the penny industry.
The penny has lost so much value since it was first put into circulation that it has become virtually worthless. I was once given 2 pennies at chic-fil-a in change and threw it away, i didn't know that it was illegal nor that there was a cop sitting right by the trash can, but here's the thing: he didn't even care. Its such a small amount of money that you have to throw away hundreds of pennies before it would actually matter. It costs more to make the penny than its worth, we do not need the physical penny, if you see one on the ground you just walk by it, its time to get rid of it all together. Just think how we could spend that 70 million dollars, although very little in percentage, its still a lot of money being wasted.
Manon Hughes 6th Period
I agree that pennies do seem useless at this point in our society, however I would like to know how that would affect prices. If there are no more pennies would things have to now be priced in increments of the nickel instead of the penny? Also, if we were to get rid of pennies, why not just do away with all of the coins? As the website says, the 5$ bill costs only 3.4 cents to make... Thus, bills are probably more practical and cost efficient. I think the best solution would be to just keep bills and circulate out the coins altogether.
Though I am not as passionate, I completely agree with John Green. The penny has definitely outlived its true purpose. I feel as if it is useless in everyday life. I spend more time trying to get rid of my pennies than anything else. I try to avoid receiving them at all cost. I won't even pick one up for good luck. Making pennies is a waste of time and money, literally.
Briona Caruthers
6th Period
Julie Joy
6th Period
I agree with John because it is time for the penny to go it has been in the world for too long and is not worth much. Before watching this video I thought pennies were very useful but after watching John's video I have learned that if we did not have pennies in the world we would be saving $70 million dollars which could be put to a much bigger and better cause.
Tom King
6th Period
I completely agree with John. The penny is near worthless in the modern day and its a hassle to deal with them. Not only is money saved by removing penny from the US currency system, but also is a billion production dollars. Moreover the counterargument about the things you can do with a penny is generic and can be done just as easily with a nickel or dime.
Justin Hoang
6th Period
I agree with John. Pennies are worthless. They just take up space in your pockets and wallets. Also I couldn't believe that it costs $70 million to make pennies when we can use that money towards stuff that will help our country. Like building more schools.
Ashish Jain
4th period
I don't think the penny is still a good idea for the United States economy. It costs more to produce a penny than what it is actually worth, so therefore, there is no point in even producing it anymore. To go along with this, not very many people enjoy carrying loose change in their pocket whenever they go out somewhere. On top of all these reasons to get rid of the penny, I think the debt the United States is in should give an even bigger reason to take the penny completely out of our currency system.
I think the cost of making pennies is ridiculous and should not be that high. However I don't agree that the penny should be removed from circulation. Pennies seem worthless individually but in the long run they can contribute to a bigger whole. I do however believe that pennies should continue to be made but made at a lower cost.
Celine DeLeon
2nd Period
Lindsey Jones
2nd period
These disgusting bacteria ridden disks that suck at facilitating commerce have disappear from the American currency. Something that Abraham Lincoln would be ashamed of, that the coin that his face is imprinted on is now worth 1/26 of a nickel's worth. I agree that the American currency and the exchange of currency would be easier without the "exact" value of the penny. The fact that both pennies and nickels are worth less than what it takes to make it, meaning that America is wasting millions of dollars annually, is quite disturbing and frustrating. I wonder why this has not been made a political debate, especially since America has recently faced many financial troubles.
Kimberly Mendez
4th period
I 99% agree with John. The penny is a huge burden on society and the economy. It costs way more to produce pennies ($70 million dollars) than their usefulness and effectiveness,thus, the opportunity cost in regards to the production of pennies is high. However, that 1% in me does not want the penny to be removed from circulation. The penny is an icon with the face of an icon on it. It holds much more sentimental value than actual value; tradition is a difficult thing to change after years of use. It makes sense to eliminate the penny but making cents is okay too.
George Waterous
Period 4
Yes, it is time to retire the penny. The penny costs not only 70 million to keep in circulation, but it also costs billions in opportunity cost. The penny is worthless. When people to even put in the effort to pick up the penny of the floor, you know its worthless. Bye penny, you had a good run.
Jasmine Luke
6th period
Although Wilson makes a strong case in favor of the pennies, I would have to agree with John that the penny is virtually worthless. Currently the U.S is in debt with foreign nations and there are many other programs the government has dismissed because of our budget. By saving $70 million dollars and not making pennies we could be directing our funds to more useful projects. Politicians need to have eliminating the penny as a top priority because that is $70 million dollars they are just disregarding.
Lillian Nguyen
Period 2
Although the penny has taken a large part of my childhood (I learned how to count by counting pennies), the cost of the penny production is greater than the cost than nostalgia. Pennies are wasteful way to use the cut of metal, and they costs more than what they are worth. Also, the response to John Green's video did not argue effectively against John Green's point. I think he was just being satirical about people who argue for the penny.
Lillian Nguyen
Period 2
Although the penny has taken a large part of my childhood (I learned how to count by counting pennies), the cost of the penny production is greater than the cost than nostalgia. Pennies are wasteful way to use the cut of metal, and they costs more than what they are worth. Also, the response to John Green's video did not argue effectively against John Green's point. I think he was just being satirical about people who argue for the penny.
Lillian Nguyen
Period 2
Although the penny has taken a large part of my childhood (I learned how to count by counting pennies), the cost of the penny production is greater than the cost than nostalgia. Pennies are wasteful way to use the cut of metal, and they costs more than what they are worth. Also, the response to John Green's video did not argue effectively against John Green's point. I think he was just being satirical about people who argue for the penny.
Lillian Nguyen
Period 2
Although the penny has taken a large part of my childhood (I learned how to count by counting pennies), the cost of the penny production is greater than the cost than nostalgia. Pennies are wasteful way to use the cut of metal, and they costs more than what they are worth. Also, the response to John Green's video did not argue effectively against John Green's point. I think he was just being satirical about people who argue for the penny.
Luke Emery
5th Period
The evidence is based solidly in fact and makes rational sense. It is extremely hard to argue against something when that something makes so much sense. So in that regard, I agree that the penny should be discontinued. It simply costs too much to make while it is not worth very much. However, what would we do with all of our current pennies? Turn in a certain amount of them in exchange for other coins or bills? How about the random pennies hiding under couches or laying on the street? I say we should encourage people to turn them in, so they can be melted down and used for something more effective. But then that begs the question, how much would THAT cost?
Samantha Fonseca
4th Period
I agree with John that pennies should be retired. Before watching the video I thought that even though a penny individually isn't that valuable, a lot of them together gives them value. However, John made me realize that the penny really is worthless and does not fulfill its purpose in facilitating the exchange of goods and services. Learning that $70 million is being spent in producing pennies also changes my opinion. Rather than spending that much money on producing something with very little value, the government could be using it on other important things. Although I do agree that the penny should be retired, I would like more imformation on how prices would be effected.
Divya Joseph
6th Period
Wilson talks strongly about the importance of the penny, but after watching Johns video I would have to agree that the penny is really useless.Even though pennies add up to be useful its not necessary to spend so much money to just make pennies. There is so many other ways to pay then using pennies and much better ways. By stopping the making of pennies can help the US lessen the high debt we currently have.
I agree that it would be more economically correct to clear up the $70 million dollars left in debt by subsidizing the penny, although I believe the penny is a piece of our history and should not be messed with. But the opportunity costs that John explains bring out my attention that it clearly is not worth our time to even look at pennies.
Sheryl Machado
6th period
The video explains the significance of the penny and is value. But cleary, it's clear that the $70 million left in debt by subsidizing the penny, because the penny is worthless. Although the penny is an important piece in our history, it's not necessary to spend a lot of money making them. As well as it can reduce the high debt we have currently building.
Yvonne Thong
2nd period
I agree with John Green on his decision that the penny should be eliminated. It costs way more to produce it than its actual value, and I especially agree with the point about it having no practical use even in machines that require coins, like parking meters and vending machines. It's not as if those in favor of claiming to keep the penny simply "because they like it" are actually using them either; this reason is overly naive. Furthermore, the US shouldn't be wasting valuable metal resources on making coins; they should be making machinery (possibly even machinery that can USE particular kinds of coins!).
Alyssa Wilson 6th Period
It seems to me that there is actually only one side to the argument, and that is that the penny is not worth its cost. John Green breaks down the ridiculous cost and lack of necessity for the penny. And the man in the second video seems to be satirizing anyone who argues to keep the penny, him listing out petty things that can be done with other, more necessary items further proves John Green'a point that if the penny were to stop being produced, we would be better off.
Shivani Doshi
2nd Period
I agree with John that the penny is
completely worthless! The government is continuously spending money on a piece of currency that the people no longer use or care about. Our government can spend the money they use to make penny's on other resources we don't have money for. Moreover, the penny cost twice as much as its worth, that is not worth our money!
Joshua Roy
2nd Period
I agree with the first video. Pennies cannot facilitate the exchange of goods and services properly, use up $70 million in US Tax payer money to be produced, and have decreased in value over the years. The fact that the penny costs to be produced in comparison to its actual value exemplifies its worthlessness. As John explains, the time used to produce pennies can cost Americans billions of dollars annually without having any significant impact on American currency. Thus, further reason is given to withdraw the penny from the circulation of our currency in order produce a something beneficial to American society.
Minh Le
4th Period
Although I agree that the penny is useless in this time and age, I also understand why the penny is essential to the money system in the first place. The penny acts as the lowest amount of money that can be obtained, one cent. Without it, there is no way of measuring out the difference of one cent from another. Also the amount of money in circulation was much less back then, giving the penny so much more value today. Moving away from the context of the pass, lets discuss the value that the penny in the present. It takes a lot of money to produce the penny and thus hurts the financial system of the United States as a whole. However like all lasting systems, the economy will adapt. The economy is moving towards an electronic currency of the USD in which money is measured in credit. With this change, the importance of the penny will no longer be valid, and thus the penny can be forgotten.
Abel Menezes
4th Period
I find it extremely surprising that a majority of Americans believe that we should keep the penny. The penny has long outlived its use and whether or not to keep it is no longer the question. The real concern is how to get rid of it. With the amount of pennies circulating around the United States economy, there are limited routes that can be taken to get rid of them. Most of these routes require a sizable amount of money to accomplish anyways. I believe the only viable option in removing the penny is to somehow make it less desirable to use it. Instead of literally removing it from the economy, have it remove itself by having people not want to use it. I can see this happening as technology advances and money is kept on digital devices. Whatever the method is, the amount of money that is being drained by maintaining pennies is too much, and thus action must be taken.
Amanda shah
Period 4
Wow. Before reading all the arguments I thought the penny was a useful coin and we should always keep it. But the agruments are really unarguable. The amount of money The Penny sucks - $900 million from the national economy every year is too much. we should be putting that money towards something more useful. Especially because pennies are pretty much useless.
Also, because of inflation you can't buy anything with a penny.
Too me, retiring the penny is the best and smartest desicion.
The penny has been with America for a long time, but it's time to say goodbye.
Taylar-Jayde Dodwell
6th period
I agree with John. I believe the penny is worthless, it costs more to make than its even worth. I believe we should do what they do in New Zealand and round everything to the nearest 10 cents. down size the number of coins we have and save millions of dollars from the production costs.
Fabian Romo
4th period
I have never liked the penny, nor have I ever thought of it to be useful, so I do agree that it is time for the penny to go. To have such a large amount of money go into such an almost, if not, worthless coin is absurd and we can utilize that $70 million dollars for more beneficial things. Down with pennies!
Guadalupe Alvear
2nd period
The penny is the most worthless unit of currency. It is worth less than it actually costs to make. These pennies do not deserve to stay in the U.S. any longer.
Jacob John
6th Period
I disagree with John, because I believe that the penny is still useful today. Even though it costs $70 million dollars to be made, it is very much useful to the millions of citizens today. Without pennies prices would rise everywhere just to make amounts even causing an even bigger problem with tax, which is 8 cents on the dollar. The way our currency system is set up is just fine and any changes made may hinder our economy.
Christian Beduya
6th Period.
Bruh
I personally don't have a stance on the issue of whether or not America should eradicate or keep the penny. However, I were to take a stance I would stand in for pennies. Yes, I am calling myself pro-penny. I believe change is good, but changing the system with removing the penny, I feel, will disturb some kind of balance in our currency. I understand that it takes $70 million to make pennies. I also understand that the opportunity cost is higher than the revenue. But as a student studying economics and wanting to become an entrepreneur, some part of me strongly feels that eliminating the penny will disrupt major exchanges in markets. I could be wrong and eliminating the penny may be the next advance in the US economy, but I still stand where I stand and that is that pennies should still be made.
Muizz Soomar
2nd Period
When talking about the use of penny in class, I thought the penny was useful for several reasons, but then I watched the video and went to the website and found out the flaws of the penny. The penny use to be worth the amount of a nickel a while back, and without pennies back then the economy was still well to do. Now we have pennies which cost 1.7 cents to create each one. Regardless of material used, we are still using about 70 million dollars wasting it towards these now useless coins. We could change the material of the coin to steel but it would still have no reason to even create the penny.
Like most people, the penny does seem to be worthless and a waste of money that could be used for other necessities. On the other hand, it felt like the video trying to support the penny was actually helping John. The opposed kept doing things that made it look silly and immature to keep the penny. Like using it as hard thing inside the sock or playing games with the coin. These merely helped John in proving the worthlessness of the penny. If your not using penny as a source to pay people with or be payed with, then why should it be produced just so more money is wasted.
Chris Sani
Period 4
Bryan Nguyen-Le
2nd Period
I believe that we should remove the penny. The amount of money that is put into maintaining the penny is more than it is worth, which inevitably causes a deficit. The amount of money that can be saved can go into essential things that help the country. There is also the problem that the amount of money used to stop remove pennies will be a lot, however we must look long term. Said amount of money will be made up in time.
Bryan Nguyen-Le
2nd period
The video and the website made me consider that the penny was still a worthwhile piece of currency. However, if the penny really is going to make us lose money rather than gain money, it might need to be removed. We should be sure to put our economy first over things of the past; it does not hurt to move on from the norm.
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