Should We Get Rid of the Penny?

In the early 1900s, you could treat yourself to a candy feast for just a few cents. Many sweets—such as Tootsie Rolls, licorice, and bubble gum—cost just one penny each.

Today, finding a penny on the sidewalk might be good luck. But it won’t do you much good otherwise. There’s almost nothing you can buy for less than five cents. Some people wonder: Do we still need the penny? 

In the early 1900s, you could buy yourself a candy feast for just a few cents. Many sweets, like Tootsie Rolls, licorice, and bubble gum, only cost one penny each.

Today, it might be good luck to find a penny on the sidewalk. But it won’t do you much good otherwise. There’s almost nothing you can buy for less than five cents. Some people wonder: Do we still need the penny?

There’s a downside to life without pennies. All prices would have to be rounded to the nearest nickel. That means the cost of some items would go up. For example, a pizza shop that sells a slice of pizza for $1.98 might start charging $2.00 instead. Those little extra costs could add up quickly.

Plus, many Americans love the penny. In a 2019 poll, 68 percent of Americans wanted to keep the coin. Some people collect old pennies. And a lot of people treasure the penny because of who is on it: Abraham Lincoln. Lincoln was America’s 16th president. He was one of our country’s most respected leaders.

And don’t forget the old saying: Every penny counts. Many charities make money from pennies. They hold penny drives, which ask people to donate their one-cent coins. These drives can bring in a lot of money.

So what do you think: Should we get rid of this copper coin? 

Life without pennies would lead to some problems. Without pennies, all prices would have to be rounded to the closest nickel. That means some items would become more expensive. Think about a pizza shop that sells a slice of pizza for $1.98. Without pennies, it might start charging $2.00 instead. Those little extra costs can add up.

Plus, many Americans love the penny. In a 2019 survey, 68 percent of Americans wanted to keep the coin. Some people collect old pennies. A lot of people love the penny because of who’s on it: Abraham Lincoln. Lincoln was America’s 16th president. He was one of our country’s most respected leaders.

And don’t forget the old saying: Every penny counts. Many charities are helped by pennies. They hold penny drives, asking people to donate their pennies. These drives can bring in a lot of money.

So what do you think: Should we get rid of this copper coin?