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Needed or Defeated

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by

Angela Altazan

on 25 March 2014

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Transcript of Needed or Defeated

Needed or Defeated
Needed Or Defeated
Funds are not Fun
America is concerned that pennies wastes to much time.The website: http://www.about.com/coins informed us that the average American wastes 2 hr. and 40 min. every year handling pennies. That's almost 3 hr. we could be doing something that could benefit us.
Counting Pennies, wasting Time
U.S Mint Could Care Less
Taxes go to the United States Mint to produce coins, that said, when the U.S Mint wastes .26 cents every penny produced. Every year 7.4 billion pennies are produced. Paying taxes is enough of a hassle, but that money being wasted is a bigger one.
Does America need the penny, or has its purpose in America been defeated? I think that America should destroy the penny because of financial funds and usefulness. The
cost of the penny is more than
than they penny is actually
worth.
The cost of the penny is more to make then it is actually worth. As the United State Mint is concerned, it costs 1.26 cents to make a 1 cent coin. I was informed from the website: http://www.about.com/coins that a penny costs 1.26 cents to make, more than its worth to have. The only problem is that if we rounded to the nearest nickle, we would have the same problem. See, a nickle costs 7.7 cents to make, nearly double it's face value.
The U.S Mint needs time to create the other coins
that are more useful.The website http://www.about.com claims that is they stopped producing pennies, they could use the extra time to produce more useful coins.
Taxpayer money
Becomes Useless
Sources:
http://www.cleanvideosearch.com/media/action/yt/watch?videoId=y5UT04p5f7U&name=Death+to+Pennies&uploadUsername=cgpgrey&hitCount=2367055
Full transcript