The U.S. Mint issued the first penny in 1793. Now, 228 years later, the U.S. Mint has decided to stop manufacturing pennies. In the middle of Super Bowl LIX on Feb. 9, U.S. President Donald Trump posted on social media that he decided to get rid of the penny. I believe that stopping penny manufacturing is a good thing because it will help the economy, the penny can’t buy as much as it once could, and eliminating pennies will make the checkout line quicker.
The penny costs approximately 3 cents to make. By eliminating the penny, the economy will make money. In 2023, the U.S. Mint made over 3.2 billion pennies.
Thebalancemoney.com said, “While the U.S. Mint is a net contributor to the U.S. Treasury, producing pennies is a money loser for the Mint,” their website said. “In 2023, the nation lost $86 million making pennies.” Considering that money is also part of taxpayer money, getting rid of the penny is not just helping the government; it’s helping everyone.
Secondly, the penny can’t buy as much as it could. This is the case mostly because of inflation; since 2000, the price of things has gone up by 88.14%. In 1980, a pack of gum cost as much as 25 cents. Now at Kroger, the grocery store’s price is $1.99, just a small amount, but still a lot compared to what it used to be. Money Crashers says, “Today, there’s literally nothing you can buy with a single penny — and you can’t do much else with it either. Vending machines don’t accept them, and neither do most parking meters. Even automatic toll booths won’t take them — except in Illinois, the home state of President Abraham Lincoln, whose face adorns the coin.” So clearly, the penny has come to an end, because of its uselessness, and the prices of things in the current day.
Finally, eliminating pennies will make the checkout process quicker. Instead of counting off by one cent, prices will be rounded to the nickel. Money.usnews.com says, “When people aren’t counting out single-cent coins, which can back up lines and frustrate other customers, and cashiers aren’t tasked with giving pennies as change.” This means that the checkout process will go significantly quicker when not counting out singular pennies. Money.usnews.com also says, “The change can also hit the cash register itself. When the space previously set aside for pennies is empty, a different currency can take its place.” This means that eliminating the penny, checkout lines will move faster, and the cash registers may even be neater
There are many reasons why stopping the manufacture of pennies is a good thing. First of all, it will help the economy. Secondly, the penny can’t buy as much as it once could. Finally, eliminating pennies will make the checkout line go quicker. Although this might be a change in the system we all have used for many years, it is a good thing to change and modify the way we live to best suit the ever-changing, evolving lives of people.
