My Two Cents: Save the Penny!
By Justin Time
Every so often, we hear talk about getting rid of the penny. While critics say making
pennies is costly and harms the environment, we need to keep pennies circulating in the
United States. They save consumer’s money, help the nation’s poor, are popular, and
keep a great tradition alive.
All Americans would end up paying more if the penny is eliminated. If there were no
pennies, prices for cash transactions would be rounded to the nearest five cents.
Remember, companies are in business to make a profit. Stores would see this as an
opportunity to make more money by creating prices that would have to be rounded up to
a higher value. This “rounding tax” would cost consumers millions of dollars each year.
Additionally, keeping the penny protects our poor. A U.S. Federal Reserve study shows
that 25% of Americans do not have either a checking or savings account. This group,
which contains the poor, young people and the elderly, do all their transactions in cash.
Since only cash transactions would be rounded, getting rid of the penny would hurt
these people who do not use checks, debit cards, or credit cards. This is unfair!
Finally, the penny is a popular part of American history. A 2012 study by the
organization Americans for Common Cents showed that 2 out of every 3 Americans
supported keeping the penny. Pennies have a long tradition. They were the first coin
authorized in the U.S. in 1787, and the original design was made by founding father
Benjamin Franklin. Please, let’s keep this proud tradition alive and save our pennies!
It Just Makes “Cents” to Get Rid of the Penny
By Lucy Change
The penny is useless and just takes up room in our pockets. We think nothing of
throwing them in fountains or on the sidewalk. Most of us would not even stop to pick
one up if we saw it! We should stop using pennies in the United States.
According to the U.S. Government, it cost 1.8 cents to make and distribute a penny in
2013. So the penny costs almost twice as much to make as what it’s worth. While
less than a cent lost for each penny made does not sound like much, consider that the
U.S. Mint made over 7 billion pennies in 2013. Do the math. This means the U.S.
Government lost over 56 million dollars making pennies!
Manufacturing pennies also harms the environment and endangers our health. A
penny’s outer coating is made of copper. The rest of the penny, about 97 percent, is
actually made from the metal zinc. Zinc and copper are taken from huge mines across
the globe. The largest zinc mine in the U.S., Alaska’s Red Dog Mine, heads the
Environmental Protection Agency’s list of our nation’s worst polluters. Zinc mining
leaves behind waste which includes lead and other heavy metals that can cause
cancer, diabetes, and nausea. The refining process where raw zinc and copper are
purified also releases heavy metals and the toxic gas sulfur dioxide into the air.
The group Americans for Common Cents talks about how Americans support the
penny. The truth is that Americans for Common Cents is financed entirely by Jarden
Zinc Products, a major zinc manufacturer. They make it seem like there is broad
support across the U.S. for the penny, but the reality is that Americans for Common
Cents’ main goal is to keep Jarden Zinc in business.
In early 2013, Canada eliminated its penny saving about 11 million dollars per year.
People have not missed it. Others countries including Britain, France, Israel and Spain
have successfully scrapped the penny too. It’s time the United States joined these
countries and say goodbye forever to the useless penny!
Prompt
The article presents arguments from both supporters and critics of keeping the
penny in circulation who disagree about the practice’s cost and popularity.
In your response, analyze both positions presented in the article to determine which
one is best supported. Use relevant and specific evidence from the article to support
your response.
Answer Guidelines
My Two Cents: Save the Penny!
Thesis: We need to keep pennies circulating in the United States
Argument 1: Pennies save consumer’s money
Strengths
- The “rounding tax” example shows how
consumers may pay more
Weaknesses
Argument 2: Pennies help the poor
Strengths
Weaknesses
- The U.S. Federal Reserve study on
Americans who rely on cash
Argument 3: Pennies are a popular tradition
Strengths
- 2012 study by Americans for Common
Cents
- Tradition argument
Weaknesses
- Who is the group Americans for Common
Cents?
- Just because the penny is traditional
does not mean it still makes sense
today
It Just Makes “Cents” to Get Rid of the Penny
Thesis: We should stop using pennies in the United States
Argument 1: Pennies cost twice as much to make as they are worth
Strengths
Weaknesses
- Data from the U.S. Government on cost
Argument 2: Manufacturing pennies harms the environment and our health
Strengths
Weaknesses
- Data from the Environmental Protection
Agency
- Example of pollution from the Red Dog
Mine
Argument 3: Counter argument against Americans for Common Cents’ study
Strengths
Weaknesses
- Provides a counter argument against the
credibility of Americans for Common
Cents
Argument 4: Other countries have eliminated the penny
Strengths
- Example of Canada’s cost savings
- Examples of other countries who have
eliminated the penny
Weaknesses
- Just because other countries have
eliminated the penny does not mean the
U.S. should too