Image of a pile of pennies

Debate photos courtesy of families; Shutterstock.com (pennies)

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Should We Get Rid of the Penny?

Everyone knows that a penny is worth one cent. But did you know that it costs more than three cents to make one? Pennies are made out of zinc and copper. In recent years, the prices of those metals have increased. 

The cost is just one reason many people think the U.S. should stop making pennies. Some people also point out that the coins often get lost under couch cushions. Most of the billions of pennies made each year end up with consumers and are never used again. Australia, Canada, and other countries have already gotten rid of their lowest-value coins.

But penny supporters point out that many people collect the one-cent coins. They can turn in their pennies at banks for paper money. Also, many charities collect pennies to raise money. For example, since 2009, a penny drive has raised more than $2 million for a food bank in Tennessee. 

Here’s what two of our readers think.

The U.S. government could save millions of dollars if it stopped producing pennies. Last year, the U.S. spent more than $127 million to make less than $41 million worth of pennies. That just doesn’t make sense!

Plus, pennies are basically worthless. Many people wouldn’t pick one up from the street. Vending machines don’t take pennies. And you’d have to save up hundreds of them just to buy something as small as a candy bar. 

If we got rid of pennies, the government might have to make more nickels. In 2023, it cost more than 11 cents to make each nickel! So the government might not save any money after all.

Also, pennies help keep prices down. Without them, stores and restaurants might round up prices. So things would cost more.

Though many people don’t use them, pennies do have value. They come in handy when you’re making a purchase and don’t have other change.

What does your class think?

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