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Why Should We Use Pennies Essay

692 words - 3 pages

It has come to my attention of how we use our money and noticed that pennies aren't being taken seriously. I realized while standing in the checking line, people would rather use dollar bills instead of the piggy bank of pennies in their possession, not only because of limited utility, for instance, pennies are generally not accepted in vending and bulk machines, but also because the act of producing the penny cost more than the actual penny itself. So I ask myself, "Why use pennies? Should they be eliminated?" The growing debate of whether or not the penny should be eliminated from all cash transaction is, personally, futile, when they, themselves, doesn't bother to use them.
It seems as if the penny is kept around today for more of a sentimental reason, for example, Abraham Lincoln's face on the penny to remind us of our history and where we've become. Admit tingly, the penny has been good throughout the years, but the nation now have to face that its value has become useless and help the U.S. Mint eliminate it because it's obviously a waste of time and money, literally. One can infer that the nation is in denial, because today, most people don't even bother to pick a penny off the floor anymore but still defend it when it comes to deciding to abolish or not.
This continuation of pennies affects taxpayers also, especially those who favors to help eliminate the pennies. It cost the mint more than what the penny is worth to produce it, meaning that taxpayers are losing twice more, of not the value of the penny itself, but the actual price to produce the penny. Because this expenditure just produces a nuisance for society it's probably at the top of every taxpayer's list of budget cut. The annual outcome of the production of penny is probably more than $5 billion, not including the time, fuel, expense and shipping and handling these pennies to banks, so one can suggest that not...

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