Question

Should we keep the penny? The penny, and the nickel, both cost more to mint than their face value. What do you think? Keep the penny? Change its composition? Why or why not?

Answer 1

USA one cent country is called as penny , which is 1/100 times of dollar ,has 97.5 percent zinc and 2.5 percent copper (copper-plated zinc) .

Nickle also USA currency , which is equal to 5cent,Composed of 75% copper and 25% nickel.

It's take avg cost of a penny to make is around 1.7to 2.0 cent per penny.That why it's is more than it's face value .Same thing for nickle also. These both currency

Pro argument:

Destroying the Penny will disrespect lincon sir as their pic on this currency. Some said that they are not in want to do any profit from it or it's not a business things to change penny and nickel as both are emotions for country not the profit or loss type thing. pennies and nickels elimination will cause prices in cash transactions to be rounded up, which will hurts the poor.

Con:

some people said tthat it is not profitable for country as it's face value is lesser than its physical value. It's is burden on economy. It's may promote chance of corrupt practices to stock currency and using it's metal to sale and earn higher amount of dollars than its face value.

Some said that printing should include composition of lighter and cheaper metal to make them and thus make ensure to stop corrupt practices in its business.

To continue these currency are political motivated or gain things not the logical one.

In 1950-60 these currency have higher purchasing power but now it not that why eliminate them.