Author: www.thebalancemoney.com. Why We Should Get Rid Of The Penny - The Odyssey Online The United States has eliminated small denomination coins in the past with relatively little trouble. The government accountability office reported in 2017 that roughly two-thirds of pennies dont circulate, meaning they are sitting in storage and losing their value over time. Thats what happened in Canada, where the Salvation Army and numerous other charities held drives to collect discontinued pennies in 2013. Vending Machines Don't Want Them. CGAA will not be liable for any losses and/or damages incurred with the use of the information provided. Many wont even bend to pick them up, as Andy Rooney noted on a 60 Minutes segment some years ago. Dont get rid of it! Finally, small-change drives aren't always enough to raise funds - clean sorting and counting are required before any money can be collected, and many organizations are now accepting donations electronically over coin drives for this reason. Should We Make Cents? - CBS News The less a person makes the more the saying "every penny counts" rings true. 10 reasons why we should keep the penny. If more businesses follow Chipotles example and start rounding down their bills, their customers will find themselves with fewer pennies in their pockets. One-cent pieces account for nearly three-fourths of the coins now being made by the federal government and critics maintain that the Mints facilities and workforce could be used to better advantage, and much more profitably, by devoting them instead to higher-value coins that yield substantial profits. " THE PENNY DEBATE" written by Brad Andrews explains to the readers the important points and reasons on why we should keep the penny and important points and reasons as to why we should get rid of the penny. However, the nickel is in just as bad a shape as the penny. 9 " Centsible " Reasons to Get Rid of the Penny. In 1943, the Mint produced cents made of zinc-coated steel in order to conserve copper, a metal vitally needed for military uses during that pivotal year at the height of World War II. Because pennies are worth so little, theyre much heavier than any other coin in proportion to their value. Learn how to keep it safe. People will start rounding up to five cents. And nickels cost 10 cents to make. A pro-penny group funded by the zinc industry calls these claims absurd, as they argue employees would save more time spent counting change than people would necessarily spend if we got rid of them.
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