Money is a very important part of American society. Every day, millions use it in one form or another. But there is one significant change that the government is thinking about making to our monetary system: the removal of the penny.
Yes, the Department of the Treasury is seriously considering stopping the production of the penny. The coin is a symbol of Americana dating back hundreds of years and not having it would change life forever for the worse.
The thoughts on not having the penny range from getting rid of an unneeded coin to the absence of a purely wasteful expense, since the penny costs quite a lot to produce due to inflation of the cost of zinc, which is what the penny is mainly made of.
Penny enthusiasts have argued the point that keeping the penny isn’t really that bad of a compromise. It is included in many sayings, such as “a penny for your thoughts” and “find a penny pick it up, and all that day you’ll have good luck.” Also, the “take a penny, leave a penny” tray will become obsolete.
But is the disappearance of the penny really going to save anything? Those against the penny say that with every transaction, the time used to count out only a few cents actually costs us more than the pennies themselves. Mathematicians and finance scholars have come up with intricate theories for the reasoning behind the uselessness of the penny.
Without the penny, however, prices ending in a number other than 5 or 0 will most likely be rounded up. By tacking on an extra couple of cents for every purchase, it will ultimately make you pay more in the long run.
It seems that most feel that it is an outdated coin of no value whatsoever, but we need the penny. In the wake of its nonexistence, Americans will go into disarray calling out for their beloved one-cent piece. Because without the penny, life just wouldn’t make cents.