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Transcript of Penny Debate!
By: Abby and Hope
reasons people want to keep pennys.
People like the president on the penny.
If you get rid of the penny prices will go higher
30% of the people want to keep the penny
Homless people need pennys
Reason's to get rid of the penny
Expensive to make pennies
Wastes 2.4 hours a year.
Doesn't even pay minuim wage.
Prices will increase
If we eliminate the penny, everything will have to be rounded to the nearest nickel. Merchants will probably round everything up in their favor, costing us more for everything we buy.
The poor pay the most!!
- A corollary to the above argument says the poor will be affected most, because they are most likely to make more frequent, smaller purchases, thus suffering rounding up more often.
It cost money to make money
In 1857 the Mint stopped making the half cent coin.
Other major changes in the U.S coinage has also occured without any catastrophic effects on commerce, such as when the 90% silver dimes and quarters were changed to base metal clad versions in 1965
New Zeland got rid of it's penny and two-penny coins without incident back in 1989, and in 1991 replaced there two lowest paper denominations with coins.