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 Weaknesses - The “rounding tax” example shows how consumers may pay more

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 Weaknesses - 2012 study by Americans for Common - Who is the group Americans for Common Cents Cents? - Tradition argument - 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 Weaknesses - Example of Canada’s cost savings - Just because other countries have - Examples of other countries who have eliminated the penny does not mean the eliminated the penny U.S. should too