Penny Argumentative Performance Task on Financial Literacy

Categories: Financial Literacy

Do you believe the penny should be maintained? The one-cent piece, frequently described as the penny has remained in a huge argument in the United States about whether if we ought to keep the penny in circulation, or eliminate the cent totally from the U.S currency. The cent ought to be abolished completely from the U.S Currency for a number of various factors.

To begin with, have you ever considered the expense of a cent? If you ask a random person, they would most likely state one cent.

However on the other hand, according to the article, “The Expense of a Penny” by J. Wendell Shelton it specifies that the when the U.S Mint mints, or produces, a new cent, it costs 2.4 cents to mint, 1.4 more cents that the cent’s real worth.

Have you ever seen a penny on the side of a road and took your time to select it up? Lots of people see cents every day however do not choose it up.

This is since the cent’s worth has actually gone done a lot for many years. Given that innovation have actually developed so much and more digital transactions than physical making the penny nearly non-existent.

According to, “Penny Anti,” the U.S Treasury loses $100,000,000 dollars yearly just from making cents. Now think about it, your yearly income may be $100,000 dollars but the expense from pennies would be 1000X your yearly paycheck. This is one of the reasons why we must eliminate the penny, yet the government still wishes to lose cash from making pennies.

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The U.S government makes 4,300,000,000 pennies annually more than twice the annual output of all other coins combined! That means that the penny is worthless and the government spends the most money making worthless coins. This is one of the reasons that I believe we should remove the one-cent piece from the U.S currency.

Many people will argue that the prices would round up if we get rid of the penny, yet that would not be the case. According to The Cost of a Penny, if we round prices down and not up, businesses would attract more customers and to avoid the higher prices and people not buying anything from stores that would round up.

Many people will argue that the penny is a piece of American history and culture yet there are more reasons to eradicate the penny than to sustain it. Though I can see why some people would want to keep the penny in circulation based on its history, though the reasons to abolish it is more important.

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Penny Argumentative Performance Task on Financial Literacy. (2016, Aug 11). Retrieved from http://studymoose.com/penny-argumentative-performance-task-on-financial-literacy-essay

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