Has the venerable $.01 piece outlived its usefulness? Check out the website for some of the arguments in favor of eliminating the penny. What do you think? Also check out this guys hilarious rant against the penny.
The second video is from a guy who loves pennies. Which side are you on? Why?
Honestly, I think the penny should stay. I'll admit they somewhat annoy because I was always the one counting them up into dollars when my dad forced us to count his jar full of change he has strewn across his dresser because I knew no one would volunteer for them. Nonetheless, if we stopped making the penny, then everything we buy would be a rounded number like multiples of 5. Thus, everything would basically cost more because stores can't hang $0.99 on the price tag and call it a sale from $1. And besides, when people give coins to charity, most people go for the coins that are worth less to give away like making a wish into a fountain. Why would anyone waste a quarter on a wish when they could get a gumball they know they will receive in the future? 1 is what started everything, basically, so accept the penny. Their may be too many because 100 make a dollar, which is heavy when there is a jar full of them, and they may not fit into any machine, but they're still useful in a way. They may not fit in the big picture well, but they are a detail, which are always important to structure. And besides, I have a friend who owes me half a penny. They're more practical for little things, like kids making wishes or watching it spin around in those donation funnels at the Katy Mills mall. Without them, I doubt anyone would even give a kid a nickel to discover the world. Pennies aren't worthless; people just find that other coins are more valuable in the sense that they can by more immediate utility while you have to store up enough pennies to even buy a piece of gum. The penny teaches the value of savings, so don't ignore it. It matters. Money is always useful in one way or another.
ReplyDeleteAmy Krauhs
Period 4
Evan Young
ReplyDelete2nd Period
I think the penny should stay. While it does have a very small value, it is historical; it is traditional. America was built upon the foundation of liberty and free market; the penny was a result of this. The penny has been around for a very long time, and I think it should stay. Besides, the penny isn't hurting anyone. In fact, a penny only helps people. As a child, and even today, I saved up my coins that were spare change, and it's rewarding exchanging my accumulation of coins for a big sum of money. It teaches value and savings principles to kids. The penny never hurt anyone...why take it away?
Karen George
ReplyDelete4th
Honestly, I would take a neutral stance on this question. The penny, at times, becomes a pain because of the additional weight added to my purse, but at the same time is useful if you want to pay with the exact amount of cash. I think it should be retired if it is bringing our economy in to debt, but would also keep it for its historical stand point. If the penny were retired, it would change a lot of price values in stores which can make necessities more expensive.
Crystal Lam
ReplyDelete4th period
Pennys need to stay because some people with low income might be affected.
We can't use the nickle that much because it costs 10 cents either. products in local stores cost would increase largely, and with how bad our economy is right now, it's just not a safe idea right now, it would just increase the stress on american citizens. And just for little reasons like if something cost $1.58, if we get rid of the penny, store owners, and merchants will have to round UP to the nickel, forcing the buyer to pay more and trust me it all adds up.
Aadithya Srivatsav
ReplyDelete6th period
I believe that it is time for the penny to retire and move on. Quite simply, it's not useful in today's modern system with credit cards and the other ways that money is used today. As the following website states (:http://www.debate.org/opinions/should-the-u-s-get-rid-of-the-penny)
that to make 5 pennies, it costs us $2.40. The mint also makes 20.27 million pennies everyday! Taxpayer's money can be spent in a lot of other useful ways and it's time for the penny to go.
Jacob Toy
ReplyDeletePeriod 4
I believe the government should halt the production of the penny. Currently, China loans the U.S. billions of dollars every day, and one day the U.S. government will have to repay their debt. In order to create revenue, the government should stop making pennies since the marginal cost exceeds the marginal revenue.
In addition, the penny really is neglected by society. Most people just carry on with their day and ignore a penny lying on the ground since a penny can hardly purchase anything and since money is dirty. Why continue to dedicate time, money, and effort to making a coin that most of society neglects?
Jocelyn Dang
ReplyDelete4th period
I agree with John's opinion about the penny. Even though I've never thought much about the penny, it's evident that the government wastes too much money and time producing the penny, which costs very little, itself. If it costs more to produce something with little value and little use, then we need to get rid of the value. What made me really think that they penny was worthless was when he brought to my attention that the penny isn't even accepted in many coin-related machines. Thus, all the more reason to get rid of the penny!
Jacqueline Gann
ReplyDeletePeriod 2
I agree with John Green. Pennies are a waste of valuable government money that could be put into other, more important, things such as education. The fact that it costs almost double what a penny is worth to produce it is reason enough to get rid of it. Cutting unnecessary costs from our budget can only help our economy in the long run.
Emigdio Escobedo
ReplyDeletePeriod 2
I agree with getting rid of the penny. We (the tax payers) lost $105 million in production of pennies and nickles last year, according to the Washington post. Though compared to the nation's total income it isn't much, but $105 million is enough to improve many things like the education system, or the maintenance of our roads and bridges. So i agree agree with john. We should get rid of pennies, because production for them is a waste of our (tax payers) money and we don't pay taxes for money to be wasted, we pay taxes to benefit us and society. So I say, get rid of the penny.
Kissa Rizvi
ReplyDeletePeriod 2
I think that it is high time that the penny be eliminated. I agree with John Green that it makes absolutely no sense to create something that costs more to make than it is actually worth. American taxpayers' money can be put to a lot more useful functions than facilitating the creation of a piece of money that is worth 1 cent but costs 1.7 cents to make. In general, dealing with monetary issues will become a lot more efficient if a useless and practically worthless piece of currency is taken away from the system.
Felix Chang
ReplyDeletePeriod 4
I believe the penny production should come to a close and take it out of circulation. Many counties have gotten rid of their smallest unit of currency, including Canada. The reason for this is simply the production of the product is worth less than its actual value. Thus, on an economic standpoint the production of pennies should stop since it is an inefficiency. Firms take raw materials and produce an item that better allocates its resources. In addition, this means without government subsidization, the firm would have to shut down regardless because it's total cost is above its product price.
Elyssa Buntzel
ReplyDelete4th p
Overall, I'm indifferent to the penny. I can see how some would like it to stay or how others would like it to go, but if it's not broken, why fix it? The penny is historical and its traditional, something American's actually value, even if its monetary value is .01. It can also be a stepping stone to the youth as a value of money and that's always useful in some way.
Amanda Salmon
ReplyDelete2nd period
I think we should keep the penny. It may cost more to make than what we are valuing it as, but it is important to the economy. If we didn't have to penny, how would we make change. Also with out the penny, then everything would have to go up in price to accommodate the nickel and so there would be a 4 cent increase. Yet, as the VlogBrother mentioned even the nickel costs more than it is worth, so I think it is okay to keep the penny because other currencies cost more than they are valued.
Gabrielle Chaney
ReplyDelete4th period
Keep the Copper, Zinic, whatever is used to make these valuable coins stay alive! I just used pennies today at the store and the cashier accepted them! Money is money and when you save money the value will add up in the end. I'm not saying that saving one million pennies is possible but letting go of these valuable cents will I think make breaking change more difficult. Prices on goods and the value for tax will have to change if the pennies are not valuable anymore.
Keanu Florence
ReplyDelete4th Period
I think that maybe we should take a break from the penny and allocate some of the money we spend to make it to the national debt we are sitting on. I was almost shocked to know that the penny costs more than it is worth and I think that is kind of ridiculous. However, what will happen when you choose to pay for something in case and your change is $1.44 , sure that 4 cents may not affect you much in the moment , but those pennies will surely add up.
Joe Thomas
ReplyDeleteP.4
I think pennies are only useful if you’re making cash transactions and in today’s world most transactions are done through credit and debit cards. I personally like paying in cash, but I’m ok with shelling out an extra 1-4 cents (because there are no pennies, only nickels) if it means saving the economy millions of dollars each year. Pennies aren’t necessary, and even in gas stations there is a leave a penny/ take a penny thing because people don’t like to keep their pennies, and we also need them to give a insignificant amount of money, like 3 cents.
Natalia Chudumebi Opara
ReplyDelete6th Period
I think a penny is very important because of its history attached to it. The penny made the united states to become a powerful country and we should not just discard because of its weight on people's purse. They say "tiny drops of water can make a ocean", if we give the penny time, it can become something useful and if we cannot use it in our day to day transaction, we can just save it and use it for household stuff.
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ReplyDeleteMichelle Pacheco
ReplyDelete6th Period
Pennies are sometimes useless and sometimes not. I say this becuse the penny is such a small amount of money that we sometimes forget about. If you have a lot of pennies it might be annoying and difficult when making an exchange of money but it is still money. As the second guy was saying if you get one penny every day and you double it you will end up with a lot of money. I consider pennies "lucky" so if I found one on the street I will take it and put it on my money box. I love pennies!
Cailin O'Connell
ReplyDeletePeriod 2
Okay so I do not think the second video did the penny justice, it was just a satire of the coin, which goes to show how overall the penny truly is just a "disk of suck". While I do find the penny useful to save the change from any cash purchases, and similar techniques can be used to help allocate funds to investment accounts, the penny is quite useless in my daily life. Beyond the clear economic inefficiencies of the coin are the environmental impacts of such an excessively fractional coin. Personally, I think the coin can hit the road.
I honestly believe the Penny should stay because if you think about it if you were to get rid of the penny you'd have to change to price of anything that doesn't end with a 5 or 0 cent range so something that is 2.99 would have to be 3 dollars. Also I've grown up with pennies all my life and even have a collection of them and a stock pile that I use to convert to bills, I say let the penny stay in our economy.
ReplyDeleteAlex Duong
ReplyDeleteClass 6
The penny incurs a loss of revenue to the United States economy. Why would it be rational to continue to produce an item that has negative productivity. Sure, it may have some utility to the general population, but it can almost be a certainty that such large amounts of money be allocated to another department of the government that further benefits the population at large, such as education, human aid, job creation, etc. That surely provides more utility to the common man than what utility a penny provides. The penny has no economic value and is a waste of taxpayers money, even the man in the second video should agree, considering the video is a satirical portrayal of the first vlogbrothers video.
Madeline Alcock
ReplyDelete6
I agree with John Green in the sense that a penny is pretty much worthless. Keeping the penny just for historical sake is not worth the money that would come if the penny were to be discontinued. I also believe that as humans we would save a lot of time if the items already included tax and were a set even number. For example, we should round the price of goods including tax to the nearest .25 cents or .10. This would not only eliminate the need for pennies, nickels, and possibly dimes, but also eliminate the hours of our life that we spend looking to give the cashier the right amount of change.
Tojo Malayil
ReplyDeletePeriod 6
In this issue I am neutral. Pennies are one of the most useless money out there. Like nobody will want to dig in their purse or wallet just to find a penny, they will look for everything but pennies. But also i believe pennies comes in handy. Like if you want to give an exact amount of money to someone, a penny would come in handy.
This comment has been removed by the author.
ReplyDeleteTimothy Krauhs
ReplyDeletePeriod 6
I have to agree with John Green I myself find the penny completely useless. Why would ma something that cost more that what it is worth. Another fact is that Canada has already gotten rid of there penny why shouldn't we get rid of our own.
Patrick Pecson
ReplyDeletePeriod 6
I agree with Mr. John, finding myself a penny hater as well because as John said, it takes 1.7 cents to make 1 cent, which will amount to $70 million dollars wasted annually to fund the subsides to make the pennies. So it just makes sense to not like the pennies/ halt the production of pennies because it wastes more money to make the penny, and also, pennies aren't even used in everyday situations like the other coins, such as the quarter for a vending machine, or nickels and dimes for the bus. Pennies are redundant and should certainly be stopped.
Jenny Simon
ReplyDelete2nd period
I would have to agree with John Green on this one. I never really thought about this issue, but this got me thinking. I believe that pennies are useless and incurs a loss of revenue to the United States. Another side of this is to look at how it is all made and how it effects the environment. Making pennies wastes natural resources and is toxic to people and the environment - Pennies are 3 percent copper, and 97 percent zinc and are primarily made from virgin ore. Making pennies from zinc and copper means mining for those materials. Red Dog Mine, which is the largest zinc mine in the U.S. is by far the #1 polluter on the EPA's list, because of large quantities of heavy-metal and lead rich mining tailings. The process of refining both metals can release sulfur dioxide (SO2), lead and zinc into the environment.
Brikitta hairston
ReplyDelete4th period
i agree with both john green and mr. john. with mr. john, i do agree that it takes more to make a cent than it is actually worth so it is logical to dislike pennies and stop production, they also are not even used everyday like the quarter or the dime. and john green, it does affect the environment to make pennies and may not be worth it in the long run.
Michelle Dang
ReplyDelete6th Period
I don't know about you guys, but I have so many functional uses for the penny.
First of all, the corndogs at Sonic during happy hour are 99 cents. If we get rid of the penny, what am I supposed to do? I can't pay $1 because then I won't get my change back. And I also can't pay with exact change because, well, there's no possible way to get up to 99 cents without 4 pennies. Are you saying no more 99 cent corndogs?? $1 corndogs just doesn't have the same ring to it. I don't want to live in a world that has no 99 cent corndogs.
Secondly, I keep a healthy stash of pennies in the cupholder of my car so I can throw them at people who drive badly. Should the penny and, daresay, the nickel cease to exist, what do I do, throw DIMES at them?? That's 10 cents, 1/10 of a dollar, that I'm wasting on a person who's driving 20 miles below the speed limit. No way. I'm not about to stop throwing things at people either, so that suggestion is ridiculous.
Thirdly, I really like Abraham Lincoln's face. If they do get rid of the penny, they better stick his face on a $100 bill or something. Benjamin Franklin's got nothing on him.
Michelle out
Samantha Chan
ReplyDeletePeriod 2
Penny for my thoughts? I'm sorry but that doesn't exist anymore!
I think we can all agree that the penny is pretty much an economic cost on America. However, pennies are not always about the cost, it's about the lifestyle. Allow me to elaborate. Pennies are used in everyday purchases. Imagine the chaos that would ensue if pennies were taken away. Imagine, you're standing in line for a coffee and the change rings up as 28 cents. Sure, the cashier could give you a quarter, or two dimes and a nickle, but what about the three cents that remain? How would this be solved? There would be no way for you to get your three cents back and you'd hold up the line trying to figure out how to get your money worth. People riot and burn the place down and America falls apart.
Okay, maybe that was a little exaggerated (maybe people will just slaughter the cashier) but you get the idea. Pennies are important. How else will I be able to collect pressed pennies? Yes, that's right. Pressed Penny collecting is a real hobby and a real thing. I spend a lot of my time collecting pressed pennies from around this great nation of ours. I can't imagine my collection having to die and end because Americans decide that it's not economic to keep the copper coin around. How will I keep track of where I've been without my pressed penny collection telling me that I've already been to Tommorowland at Disney?
John Green has some brilliant points, but in the end, let's not forget the little people who collect this great coin. Let's not forget about all the times you have received the perfect amount of change because of this coin. Without the penny, America would surely collapse.
In summary, people who argue that the penny is useless make no CENTS. In fact, they should realize that currency simply doesn't need the CHANGE.
Ingrid Curtom
ReplyDeletePeriod 4
I think we should get rid of the penny because since it costs more than they are worth to make them, we would save money and help our economy. Also, many people are destroying the environment by littering pennies. Countries like Australia, Canada, and New Zealand have already gotten rid of their pennies and so should we.
Siobhan Simmons
ReplyDelete4th Period
The penny needs to become extinct. Yes, it will be sad knowing that my children will not grow up with the same things that I had, but when something is useless and is actually creating harm to the economy, we need to get rid of it. As the man in the first video stated, the penny has literally become useless ended costing us more money to make it than it is actually worth. with the money that would be saving for not producing the penny, we could be using that towards school funds, building constructions, or anything that could improve our society. Even though we have use the penny for some time now, it is pointless to keep it when our society no longer has a need for it. Also, the man in the second video is not giving very good uses for the penny which made me lean towards more their first men as well. What we need to do now is take the penny off of all sales which is honestly the only reason we still use it and just leave it to nickels, dimes, and quarters as our coins.
Leslie Reglos
ReplyDeletePeriod 6
Although it's unfortunate that pennies cost more to make than they're worth, pennies have various other uses besides buying things! First of all, pennies bring people good luck. They lay on the floor in random places, waiting to be picked up so that they can spread their good luck all over the place.
In addition, pennies are the coins you insert in those cool little machines to get squished into a souvenir. They sacrifice themselves to be flattened into ovals and stamped with an image to remind you of the place you visited.
If you're a stingy person with a conscience, no problem! You can give homeless people your pennies without losing very much of your mullah. That way, you feel good about yourself while saving money.
All the people against the penny are just thinking about the costs to the American economy, but pennies have feelings too. Haters gonna hate, when they should learn to appreciate. The penny should stay.
Wesley Andrade
ReplyDeletePeriod 2
It should not cost a government money to literally create its own money, yet it does. A new report from the U.S. Mint says that it costs 1.7 cents to create each penny, and 8 cents to make each nickel. The increase has to do with the cost of metals used in the alloys for coins, especially copper. Simply changing what coins are made of doesn’t solve the problem, since that would alter each coin’s electromagnetic signature. That’s what vending machines use to recognize each coin that customers insert, and changing the signature would require retrofitting every vending machine in the country: understandably, the vending industry is not keen on this idea.
Jayson Varughese
ReplyDelete4th period
I agree that the production of pennies should be halted. This is because the government is wasting too much time and money producing the penny, while it costs very little in the first place. Another point that stood out is the fact that vending machines for a long time have not accepted pennies as a form of payment. This places the penny at little value. The elimination of the penny will significantly help decrease our national debt, because prices will no longer be marked down to .99 cents and be called a discount.
Muizz Soomar
ReplyDelete6th period
I watched the video and went to the website and found out the flaws of the penny. The penny use to be worth the amount of a nickel a while back, and without pennies back then the economy was still well to do. Now we have pennies which cost 1.7 cents to create each one. Regardless of material used, we are still using about 70 million dollars wasting it towards these now useless coins. We could change the material of the coin to steel but it would still have no reason to even create the penny.
Emmitt Penelton
ReplyDelete2nd period
I for one am for the penny to be retired, It's old, almost near invaluable, and just a place holder for most people their cars. Not many people use for evening out their purchases, many of them in fact just go to the nearest five if not just quarters to pay out change. I for one, find annoying to have to use one coin for every extra cent that I can't just use a nickel or a whole dollar to pay out out the remainder. If we stop the production of the penny we can use that metal for so much more.
Twinkle Joseph
ReplyDelete4th period
I agree with John Green in that having a penny is pretty useless. Overall, it is worth basically nothing so, creating the penny costs more than the actual worth of it. The amount of natural resources wasted for the use of making in the ridiculous. This can be used to make more useful things. Also, even though the idea of it just being $0.01 makes it seem like it is an issue that needs no attention, the amount adds up. This penny turns into millions of dollars on a larger scale. And, no pennies just makes things easier. There would be just less change to worry about. Therefore, pennies should be taken away because the opportunity cost exceeds the opportunity benefit.
Justin Adame
ReplyDelete2nd Period
I agree with John i think that the penny is worth less than what the american currency says its worth. 70 Million dollars to make something that is worthless does not make sense to anyone. Whats why i believe that the government should shut down production of the penny completely in 2016 and if possible even this year 2015. I work with money everyday at my job as a cashier and if someone drops a penny or has a penny left in change, they don't ask for it or pick it up themselves. because it is literately not worth there time to pick up one cent.
Ashley Garcia
ReplyDelete2nd period
i agree that the penny should be eliminated.it is wasting natural resources that could be used for making more useful things instead.it is really sad that we waste 70 million dollars to make/produce the penny.i would however change my mind if we used a different material,but if there is no new material we can use then yes we should get rid of the penny.
Kennedy Ford
ReplyDeletePeriod 2
I take a neutral stand on this question. Although I collect loose change, it has become a way for me to turn my loose change into big bucks. if the penny is causing our horrible debt, then maybe we should retire the penny because our debt is growing by the minute. But the penny has some value to it, with its historical background and ability to make money even, the penny could also be a good thing.
Axel Cuypers
ReplyDelete4th Period
I think that the penny should not be retired. The penny has been around for such a long time, it would be culture shock to completely cut them out of currency. However, I do think with the proper plan to slowly take them out of currency, it could be possible to eliminate pennies. Again, I still feel like it I tradition, and there is no reason as of now to eliminate them. Yes, they do cost more than they are probably worth- but that is not counting they value they hold in the American cultural background. I mean what would Americans do when they refer to "a penny for their thoughts" yet there is no such thing as a penny anymore? Put your two cents in... How??
Reuben Bijy
ReplyDelete2nd Period
I think that the production of pennies should be stopped. I think the government is wasting too much time and money producing the penny. Another point that stood out is the fact that vending machines for a long time have not accepted pennies as a form of payment. I also think eliminating the penny will significantly help decrease our national debt, because prices will no longer be marked down to .99 cents and be called a discount
Ayesha Wahid
ReplyDelete2nd Period
Honestly, I don't really care if the penny is retired or not. I only say this because at times the penny comes in helpful but most of the time when people get pennies they just toss em somewhere and usually forget about them. It's more about he quarters rather than the pennies. But then again pennies come in handy when paying and you're not wanting any change back. Although the penny brings our economy into debt and could cause problems it also helps sometimes when having to pay for sown thing that cost a couple cents. Therefore, it really doesn't matter to me if the penny stays or goes because I'm in the middle of the argument and whatever happens, happens.
2nd Period
ReplyDeleteTo me personally, it doesn't really matter if the penny is retired, but maybe that is a reason to do so. If the biggest difference it can make in the cost of an item is 9 cents, I can't really see that affecting anyone, even the destitute. So, if the penny is costing more to produce than it is even valued, it would save the government time and money in producing them. It would be a small start to shedding some of the national debt, but it's a good start and a good way to make our government at least a little more efficient, as John said.
Frankie Smith
ReplyDeletePd.6
I don't really care for pennies and would rather have them gone. They cost more than they're worth, and we waste natural resources to make them rather than make something more useful. I'm not sure I know of anyone who really uses pennies anymore when it comes to change (except stores, but they're just trying to get rid of their pennies by giving them to us as part of the change we receive). I literally see pennies being left everywhere. They're a waste of $70M tax dollars and natural resources since nobody really wants to use them.
Amie Jean
ReplyDelete2nd period
I’m in the middle on this subject as well. Although I see no clear value to the penny, I like them. If there was one thing I knew as a child it was that 100 pennies equaled a dollar. I used to go on penny hunts to collect them as a kid until my jar was full. Then I would go to the bank wrap them up in the penny counters and by as much hot cheetos as I could afford. If we got rid of it we would have to change how sales tax and prices work...that’s a lot of effort. In reality we are wasting our money on a plethora of useless things so until we are really in a deficit, we can leave the penny alone.
DEATH TO PENNIES. Pennies suck. Ask yourself this, do you ever go around carrying pennies? If youre a normal person, then answer would be no. Pennies are only useful for collecting them in a big jar, then asking people how many pennies are in the jar, just so that when they answer the correct amount, they get a nice prize thats worth much more then the pennies in the jar. Then afterwards, the jar is dumped i to one of those machines that gives you 95% of the money that you put into it. Thats how much pennies are worth to you. Because you hate having them in your pockets, and youd rather have 95% of what you actually had before just so that you can carry around ACTUAL CASH. Pennies suck. Theyre almost as bad as the Cleveland Cavaliers after Lebron James left them. Pennies need to die off.
ReplyDeleteAmber Alex
ReplyDeletePeriod 4
Wow Mr.Pye, I can't believe you're making us have this discussion. Honestly, I'm slightly prejudice against pennies. Call me vain but they just don't look quite as nice as all the other coins. I understand that pennies have been apart of everyone's lives and could be used to do cool tricks (which we could easily use another coin to do) but..it's a penny. If it's costing money that could be going to help provide for the needy, I say get rid of it ASAP.
Ryan Mathew
ReplyDeletePeriod 6
Well the way I see it historically the penny is important the the nation by its worth and the man whose face is on it. I think however, there is no use for the penny. As we move into the 21st century pennies are becoming less and less meaningful because nothing is close to or remotely cheap to the point of using a penny. The only way a penny should be used is if there are absolute needs for it but in my opinion I do not think it is worth it.
I believe the penny should stay because witout it here is no way a store can give back a customer the exact change. Unless the prices for all products are altered to where the finals prices are always in fives or tens, it is impossible to run a store or buy something without pennys.
ReplyDeleteArjun Daru
ReplyDeletePeriod 2
I believe that it is time to retire the penny because it is rapidly becoming obsolete. Prices will have to be modified to avoid change involving pennies, but it is a small price to pay. The production of pennies can save the country a lot of money if it were to be halted
Humam Daas
ReplyDeletePeriod 2
I think the penny is completely useless and should be retired. It is literally just one cent and it is so bothersome just filling up space in my pocket until I throw it on the table at home. Counting all the pennies I have collected over the past year(s), guess how much money I have? .73 cents. Now, if you count the quaters and stuff I collected, then its a bit of cash. But really? 73 cents after years of pocket change? Not much. I just dont see the point of pennies anymore.
Mackenzie Boudreau
ReplyDelete2nd period
In my personal opinion pennies are pretty convenient only because if we didnt have them, or got rid of them, we would have to round every price to the nearest .05 because thats the second smallest amount in coins for the U.S currency. This price rounding would be very inconvinient, also collecting pennies can add up tremendously over time.
Period 6
ReplyDeleteJohn is completely right. The money used to create worthless pennies could be used toward something better. Also, I felt that both guys the videos agree that pennies are useless, but Wilson was just arguing with John for laughs because his arguments made no sense.
Zoheb Hirani Period 4
ReplyDeleteI agree with John in that we should get rid of the penny and allocate our resources elsewhere. More importantly, I think we should get rid of all money systems altogether and go back to commodity. Fiat money is so...fake. What if we started trading chickens for Yu-gi-oh cards!! How awesome would that be Mr. Pye?
Although there is some serous history and tradition that surrounds the penny, I feel it has finally reached the end of its life. Due to the simple fact that our world has moved more and more away from physical money and more towards plastic cards and paper checks, the penny seems to have fallen behind to the last century. The fact that the penny also cost more to produce it than it is actually worth is quite idiotic that we still make them, and to save money we should stop the production of them immediately. While those in circulation will still be there,i feel it would be a necessary step to take in order to keep advancing our society and save our government valuable dollars.
ReplyDeleteErin Keir
ReplyDelete6th
I agree with the first video, that all though the penny is a past time and something that the United States is known for, I feel as though it has reached its ending. It is not economically efficient and seems to do more harm than good. It costs more than it is worth to produce and is not needed as nobody I know actually uses penny's. Many countries in the world do not have pennies and their economies function well, if not better. I think that the penny is unnecessary.