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There is no point in keeping pennies, as it costs more to produce them than what these coins are
actually worth. Additionally, people tend to hoard them at home in jars and as such, most of them
are hardly ever in circulation. This means that new pennies must constantly be minted, at huge cost
to the state. Australia has already gotten rid of its penny and Canada may end up taking this
approach as well, with Parliament currently debating a motion that would do just that. The US should
also consider following this example. Removing the penny from circulation would not be a radical
change at all. Stores could still sell merchandise for prices that end in odd figures (such as
$1.99), but once the client gets ready to pay, the cashier will simply round the total either up or
down.
Even though removing the penny from circulation makes sense, I doubt that the US will do this in the
near future. America seems to be rather conservative when it comes to its currency. I remember that
replacing the one dollar bill with a coin (similarly to what Canada has been using since the late
1980s) never caught on either. |
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If we took the penny out of circulation all businesses would round their prices up. Also then what
would become of the saying, "A penny saved is a penny earned." ??? |
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No, the penny should still be circulated because if the penny was not intended to be made into
money, then the penny would not be made. So why change it? I think it should just stay the way it
is. |
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Well along with that we would have to change the price on EVERYTHING. Nothing would be able to be
odd unless it ended in a 5 and couldn't be even unless it ended in a 0. It's more trouble then its
worth to take them away my opinion is for them to stop making new pennys and just wash the current
ones we have. |
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07 May 2008 08:34
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