Do we really need pennies? In 2013 pennies and nickels exceeded the cost of production, meaning that it cost 1.9 cents to create pennies. Pennies are becoming worthless, being collected in drawers, pockets and jars, rarely being used for a transaction. Why do we even need pennies anymore? Even dollars only cost 5.4 cents to produce, they’re worth 100 times more than pennies.
Lets be honest, most of us don’t even want pennies. If you were one of the people selling chips, candy, or anything in school, you would be annoyed if someone came with pennies to buy something, you would not be happy about it.
Though pennies role is as a currency, its primary role might just be getting thrown away. The estimated worth of pennies thrown a year is about $1.2 million. That is ridiculous! One might as well make collecting thrown away pennies a career. The government could have saved $1.7 billion over 30 years if they had gotten rid of pennies.
What can pennies really buy? Right now you might be thinking, stuff from the 99-cent store, but there is nothing worth a single cent even there. One thing a penny can buy is a wish, a wish from a fountain or well, 1.9 cents for your thought. Another reason to throw away a penny.
An argument says that removing pennies will have price rounding be done unfairly. Consumers will have rounded prices for products, having cost a little bit more or a little bit less. Even though, it doesn’t make sense to keep creating pennies if it cost twice as much. If pennies do continue, they should at least make them from a cheaper substance than zinc.
Pennies aren’t worth enough to produce and getting rid of them would just make “cents.”