Get Should We Get Rid Of The Penny

9 "Centsible" Reasons to Get Rid of the Penny Pennies take up time at the cash register to count out: If time is money (see below), then pennies are not worth the time it takes to handle them. Found pennies aren't worth the effort required to pick them up: The federal minimum wage is currently $7.25 an hour.

Anti-Penny Arguments Pennies are worthless. They don't buy anything, many people throw them away, and nobody wants to use them, so let's get rid of them. ... Pennies waste time. ... Making pennies wastes taxpayer money. ... Making pennies wastes time. ... Rounding-up prices wouldn't matter. ... Pennies are less than the minimum wage.

Eliminating pennies and nickels could make people think coins overall aren't useful. If we stop using all coins, the Mint will lose $400 million dollars of profit a year. Opponents also argue the government would save money by eliminating low value coins.

— S.J. Answer: Pennies aren't going anywhere anytime soon. “As of this date, the Mint has no plans to cease production of the penny,” a spokesperson for the U.S Mint said. This has been floating around for many years.

The short answer is no—or at least, not yet. The U.S. Mint has no plans to discontinue the penny, and such a move would require congressional approval. However, the “Penny Debate” continues in the United States, with pro- and anti-penny advocates both making some pretty solid points in their arguments.

The penny has practically no value and should be taken out of circulation just as other coins have been in US history. The process of making pennies is costly both financially and environmentally. Eliminating pennies would save time at the point of purchase without hurting customers or businesses financially.

Those who favor keeping the penny believe the penny plays an important role in keeping down the costs of the goods and services we buy. If there were no pennies, stores and restaurants would round up to the nearest nickel. This means consumers would end up paying $0.55 for something that should cost only $0.51.

Those who favor keeping the penny believe the penny plays an important role in keeping down the costs of the goods and services we buy. If there were no pennies, stores and restaurants would round up to the nearest nickel. This means consumers would end up paying $0.55 for something that should cost only $0.51.