Analysis of the Statements against the Eradication of the American Penny: [Essay Example], 790 words GradesFixer
exit-popup-close

Haven't found the right essay?

Get an expert to write your essay!

exit-popup-print

Professional writers and researchers

exit-popup-quotes

Sources and citation are provided

exit-popup-clock

3 hour delivery

exit-popup-persone
close
This essay has been submitted by a student. This is not an example of the work written by professional essay writers.

Analysis of the Statements Against the Eradication of the American Penny

  • Category: Life
  • Subcategory: Myself
  • Topic: Personality
  • Pages: 2
  • Words: 790
  • Published: 12 February 2019
  • Downloads: 22
Download Print

Pssst… we can write an original essay just for you.

Any subject. Any type of essay.

We’ll even meet a 3-hour deadline.

Get your price

121 writers online

blank-ico
Download PDF

The penny has served the American public faithfully for over 230 years. Do we really want to destroy this time-honored legacy in an attempt to lessen problems that will always plague our society? Besides its cultural value after being used by millions of people daily for hundreds of years, the penny also serves commemorative and economic purposes that cannot be easily replaced. I say we shouldn’t abolish the penny — it does more for us than we give it credit for.

Firstly, the established monetary system is difficult to conceptualize without the penny. It would simply be unnatural for most Americans, consumers and businesses alike, to follow U.S. Rep. Jim Kolbe’s plan of rounding every transaction up or down to the nearest nickel. (Source A) The so-called menu costs of changing prices on every good currently listed for $0.99, $1.99, $2.99… would be enormous — and unnecessary. Our consumer culture is based on age-old tricks like enticing buyers through to illusion of $1.99 being a much cheaper price than $2.00. Abolishing the penny is not only unnatural, but also removes room for nuance in items’ prices — fundamentally violating the spirit of free markets in a capitalist society like the U.S.

While proponents of abolishing the penny claim it no longer serves a standalone purpose — as William Safire of the New York Times writes, “you can’t buy anything with a penny any more,” citing the “penny candy” and “penny ante poker” of bygone days — inflation should have no bearing on whether certain monetary denominations should be kept or banned. (Source C) If we establish a dangerous historical precedent by removing coins deemed no longer useful at will, what will happen in fifty years? Will the nickel be banned, and then the dime? What about the dollar? The American economy has grown steadily at an inflation rate of around 3% per year, meaning that by penny-abolishers’ logic, we would have to rid ourselves of other coins soon, too. Abolishing the penny would only be a misguided step towards a never-ending and unnecessary cycle of confusion.

In a similar vein, some naysayers state that pennies merely end up dropping out of circulation — in the New York Times article, Safire cites John Tierney as saying that pennies end up behind “chair cushions or at the back of sock drawers.” (Source C) But pennies should not be singularly blamed for the common faults of all coinage. Regardless of how Safire would have you believe that pennies are the root of loose change evil, “tear[ing] holes in pockets and set[ting] off alarms at every frisking-place, the unique importance of pennies to our history and economy should not go unnoticed.”

As a White House press release noted in 2005, according to Michael Bishop, executive director of the Abraham Lincoln Bicentennial Commission, “the penny is perhaps the most visible and tangible reminder of Lincoln’s presence in American history.” (source F) The coin itself was the first currency authorized by the United States (source B). Where some see “outdated”ness (source C), I see a rich cultural and historical symbol that reminds Americans of the great legacy of our founding fathers on an accessible and frequently used tool of trade.

That’s not all of the contribution the penny has made to the American economy. It has also allowed our Tennessean zinc mines to flourish. (Source A) While greedy lawmakers such as Kolbe attempt to gain more market share for copper based coins, which largely source copper from his home state of Arizona, we should remember that pennies literally fuel economies in the South and should not be banned or discouraged just so wealth can be concentrated in a few greedy states: it is diversity and diversification, of our coinage and our funded minerals, that make this country great.

America is first and foremost a country by the people, for the people. We take great pride in our rich history and in commemorating our heroes of the past, including Abraham Lincoln. We take pride in our free markets and our consumerism. So when the people showed their majority opinion against abolishing the penny in a Harris poll (source E), I think we should listen to them. The penny’s huge cultural significance as a symbol of the American spirit cannot go ignored just to appease the select few who use the faulty arguments of inflation or lack of circulation to oppose the coin. After all, with the weight of our forefathers on our shoulders, we cannot afford to cave to greed. The penny should live to see another day, whether in cash registers or tip jars, pants pockets or sock drawers. We owe at least that much to our celebration of America.

Remember: This is just a sample from a fellow student.

Your time is important. Let us write you an essay from scratch

100% plagiarism free

Sources and citations are provided

Find Free Essays

We provide you with original essay samples, perfect formatting and styling

Cite this Essay

To export a reference to this article please select a referencing style below:

Analysis of the Statements against the Eradication of the American Penny. (2019, February 12). GradesFixer. Retrieved October 28, 2020, from https://gradesfixer.com/free-essay-examples/analysis-of-the-statements-against-the-eradication-of-the-american-penny/
“Analysis of the Statements against the Eradication of the American Penny.” GradesFixer, 12 Feb. 2019, gradesfixer.com/free-essay-examples/analysis-of-the-statements-against-the-eradication-of-the-american-penny/
Analysis of the Statements against the Eradication of the American Penny. [online]. Available at: <https://gradesfixer.com/free-essay-examples/analysis-of-the-statements-against-the-eradication-of-the-american-penny/> [Accessed 28 Oct. 2020].
Analysis of the Statements against the Eradication of the American Penny [Internet]. GradesFixer. 2019 Feb 12 [cited 2020 Oct 28]. Available from: https://gradesfixer.com/free-essay-examples/analysis-of-the-statements-against-the-eradication-of-the-american-penny/
copy to clipboard
close

Sorry, copying is not allowed on our website. If you’d like this or any other sample, we’ll happily email it to you.

    By clicking “Send”, you agree to our Terms of service and Privacy statement. We will occasionally send you account related emails.

    close

    Attention! this essay is not unique. You can get 100% plagiarism FREE essay in 30sec

    Recieve 100% plagiarism-Free paper just for 4.99$ on email
    get unique paper
    *Public papers are open and may contain not unique content
    download public sample
    close

    Sorry, we cannot unicalize this essay. You can order Unique paper and our professionals Rewrite it for you

    close

    Thanks!

    Your essay sample has been sent.

    Want us to write one just for you? We can custom edit this essay into an original, 100% plagiarism free essay.

    thanks-icon Order now
    boy

    Hi there!

    Are you interested in getting a customized paper?

    Check it out!
    Having trouble finding the perfect essay? We’ve got you covered. Hire a writer

    GradesFixer.com uses cookies. By continuing we’ll assume you board with our cookie policy.