Benefits Of Penny Essay

613 Words3 Pages
Pennies. Should they stay or should they go? Since 2001, the question of whether or not to keep the penny in circulation has been asked by legislators and citizens all over the United States. Although there are benefits to the penny, it would be more beneficial to eliminate the penny due to the persistent use of credit cards, its little convenience and its tapering value. Society today has been transformed into a fast paced consumer- friendly world. With more people buying items it is almost essential for every family to have a credit card. These credit cards make it possible for people to virtually carry their life savings with them wherever they go. As the use of credit cards increases, the need for coins decreases. No longer do people need to find exact change in their wallet when they can whip out a credit card and pay with that. It seems silly that anyone would carry around change with them. “ 27 percent of Americans don’t…show more content…
Some of this money is used to make pennies. However, the cost to make a penny has risen over past years. As of now, it takes more money to make a penny than the penny is actually worth. This seems like a waste of money when 2/3 of pennies immediately drop out of circulation (Source C). The money being used to make pennies could be made for other, more useful, things such as buying supplies for schools or helping the homeless. With the cost of penny making going up, the price of everything else has gone up along with it. Because of the growing and evolving economy, no longer does something cost a penny (Source C). Due to the inconvenience, most cashiers become frustrated when someone tries to pay for something with pennies. Although, by eliminating the penny, prices would either have to rounded up or down, but this could be a “win-win” for both the consumer and the corporate businesses. Is this a good enough concluding
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