![]() It's clear that the modern penny is no longer necessary in our financial system. For these types of payments, rounding to the nearest nickel would cost consumers an extra 2021 dollars annually. Penny has attracted the support of economists from Harvard and Wake Forest University. A nonpartisan organization called Citizens to Retire the U.S. A HuffPost/YouGov poll conducted in January found that only 34 percent of Americans are in favor of eliminating the penny, while 51. , The use of pennies in paying for goods and making change adds time to sales transactions. A California company called Mikes Bikes has banned the penny from its registers because Making pennies wastes natural resources is toxic to people and the environment. Overall, continuing the use and manufacturing of pennies. 9 " Centsible " Reasons to Get Rid of the Penny. I will now list them and also describe them. ![]() Please refer to the appropriate style manual or other sources if you have any questions. These composition changes ranged from temporary wartime alterations during World War II, to more permanent switches like using zinc instead of copper for the penny. Convenience stores across the nation have been showing how handling pennies adds up in cash transactions, but that doesn't sound like a huge issue until you look into the 2019 Federal Reserve study that shows the average consumer makes 11 cash transactions in one week. 25, 2006, Consumer Affairs, "The Penny's End Is Near,", July 2006, Courtney Waite, "The Origination of the Lincoln Penny,", Apr. 25, 2006, Greg Mankiw, "How to Make $1 Billion,", Sep. "Current Market." In 2017, Senators John McCain and Mike Enzi introduced S.759 Currency Optimization, Innovation and National Savings (or C.O.I.N.S.) Get Rid of Stupid Pennies,", June 17, 2016, Mike's Bikes, "Pennies Don't Make 'Cents,'" (accessed July 2, 2018), Retire the Penny, "It Makes 'Cents,'" (accessed July 2, 2018), Sebastian Mallaby, "The Penny Stops Here,", Sep. The current cost for manufacturing a nickel is 7.29 cents per coin. However, it would hit low-income Americans especially hard. The existence of pennies helps raise a lot of money for charities. Shops' reluctance to accept cash payments, coins included, has disempowered people experiencing homelessness, who often don. Aaron's argument resonates with many modern consumers who remember when a person could buy a mini Tootsie Roll, Mary Jane or ice cream cone at the candy store with just one penny. We should get rid of pennies because it cost less and is useless but it could be helpful, I think we should keep the penny because it is sill money, what the creep who ever wrote these are all bum hahahahaha. Even during my childhood in the 1980s, there was a candy store not far from our house that sold penny candy in jars one penny for a mini Tootsie Roll, or two for a Mary Jane. Numerous Americans are in favor of keeping it due to sentimental value, while others say it is just too costly. ![]() To learn more, read our article on the possible economic impact of eliminating the penny. So instead of penny drives, charities could start holding nickel drives, putting out bottles or wishing fountains to collect the new useless coins. ![]() i think we should keep the penny so when our kids our older they will know what a penny is yaaaaaaaaaaaaaaaaaaaaaa. In 1962, it removed tin from the alloy, changing it from bronze to brass. ![]()
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