EVERY YEAR THE U.S. SPENDS $119+ MILLION TO MAKE $70 MILLION WORTH OF PENNIES, THROWING AWAY $48+ MILLION A YEAR.
Pennies are bad for people and their economy. HERE IS WHY.
-- PENNIES COST MORE TO MAKE THAN THEY ARE WORTH --
* It costs the U.S. mint 1.7 cents to make each 1 cent Penny.
* Pennies of the Old Republic were made of 100% pure copper but the value of copper went up and because of inflation the buying power of pennies went down.
* Now Pennies are only 5% Copper and 95% ZINC.
* In 2006 value of the metal in older pennies rose above 1 CENT, people melted them to sell the raw copper for profit, then the Government made melting of U.S. coins illegal.
-- THEY DON'T WORK AS MONEY.--
You may ask, will prices rise? NO.
* New Zealand got rid of their one cent, so did Australia, Finland, The Netherlands & Canada, these countries round to the nearest 5 cent for cash transactions and none of them witnessed prices rise or people's savings go down.
* The U.S. terminated the half cent coin (1792 - 1857) for being worth too little, but when the half cent ended it had more buying power than today's DIME.
PROBLEM: Everybody loves Lincoln & his profile is in the penny.
- Lincoln's face and his monument are still in the 5$ bill which is not going away.
- Some may think it might be unpatriotic or disrespectful to get rid of presidential coinage but The United States Military on bases overseas have already abolished the penny by automatically rounding to the nearest 5 CENT.
-- THEY WASTE PEOPLE'S TIME!--
* In the olden days pennies could actually buy stuff, but not anymore.
* You're going to have to put in some effort if you want to spend pennies.
EXAMPLE: try paying $30 worth of items with 3,000 pennies weighing over 16 pounds and see how that works out...so you have to get rid of them using exact change on every purchase but because the United States doesn't include sales tax in prices and its troublesome to divide by 8.875%, getting your change ready before you reach the register is nearly impossible
* On average pennies add 2 seconds to each transaction...
* Perhaps people can find a machine that would accept pennies...vending machines wont take them, neither laundry machines, toll booths, parking meters or anything else because pennies aren't worth the time and effort to count, store and transport them
* COINSTAR is the only machine that will take your pennies by taking 10% of your money while providing nothing in return.
Pennies are the dead weight to the economy after a short useless life where they fail at their only job, to facilitate exchange. They must be terminated.
Updates
November 28, 2015
The current level of engagement has prompted a request for comment from a national financial news outlet. I am preparing a formal brief detailing the fiscal impact of penny production to submit to their editorial desk. We are moving forward with a structured proposal for the Treasury Department.
Reached 100 supporters
November 28, 2015
19 Comments
But i like pennies!......just kidding!!! no i dont, they are worthless, annoying, and they have a funky smell
I do not remember the last time I have physically used a penny. Even when i find a penny on the floor, I don't pick it up because i know they are useless
Deberian eliminar esta moneda , a parte que el cobre es uno de los minerales que sube cada vez mas su precio, es una moneda que no aporta al monopolio de la economía.
Why do we even have coins that cant buy anything? I say terminate the nickle too or just switch coinage to smaller bills.
Me gusta este tema por que es la realidad de la economia .cuesta mucho fabricar los centavos.
I love how this is written, it kinda has a quirky tone.
it makes no sense to keep pennies around anymore.
Sign Petition
We never post to your account. Social sign-in is used only to verify your signature.
Add a comment?
Your signature will be added via . Tell others why you're signing — it's optional.
By signing, you accept our Terms and Privacy Policy and agree to occasional emails about petitions. Unsubscribe anytime.
Share this petition
Share this petition to help it reach more people.
Your share link
EVERY YEAR THE U.S. SPENDS $119+ MILLION TO MAKE $70 MILLION WORTH OF PENNIES, THROWING AWAY $48+ MILLION A YEAR.
Pennies are bad for people and their economy. HERE IS WHY.
-- PENNIES COST MORE TO MAKE THAN THEY ARE WORTH --
* It costs the U.S. mint 1.7 cents to make each 1 cent Penny.
* Pennies of the Old Republic were made of 100% pure copper but the value of copper went up and because of inflation the buying power of pennies went down.
* Now Pennies are only 5% Copper and 95% ZINC.
* In 2006 value of the metal in older pennies rose above 1 CENT, people melted them to sell the raw copper for profit, then the Government made melting of U.S. coins illegal.
-- THEY DON'T WORK AS MONEY.--
You may ask, will prices rise? NO.
* New Zealand got rid of their one cent, so did Australia, Finland, The Netherlands & Canada, these countries round to the nearest 5 cent for cash transactions and none of them witnessed prices rise or people's savings go down.
* The U.S. terminated the half cent coin (1792 - 1857) for being worth too little, but when the half cent ended it had more buying power than today's DIME.
PROBLEM: Everybody loves Lincoln & his profile is in the penny.
- Lincoln's face and his monument are still in the 5$ bill which is not going away.
- Some may think it might be unpatriotic or disrespectful to get rid of presidential coinage but The United States Military on bases overseas have already abolished the penny by automatically rounding to the nearest 5 CENT.
-- THEY WASTE PEOPLE'S TIME!--
* In the olden days pennies could actually buy stuff, but not anymore.
* You're going to have to put in some effort if you want to spend pennies.
EXAMPLE: try paying $30 worth of items with 3,000 pennies weighing over 16 pounds and see how that works out...so you have to get rid of them using exact change on every purchase but because the United States doesn't include sales tax in prices and its troublesome to divide by 8.875%, getting your change ready before you reach the register is nearly impossible
* On average pennies add 2 seconds to each transaction...
* Perhaps people can find a machine that would accept pennies...vending machines wont take them, neither laundry machines, toll booths, parking meters or anything else because pennies aren't worth the time and effort to count, store and transport them
* COINSTAR is the only machine that will take your pennies by taking 10% of your money while providing nothing in return.
Pennies are the dead weight to the economy after a short useless life where they fail at their only job, to facilitate exchange. They must be terminated.
Updates
November 28, 2015
The current level of engagement has prompted a request for comment from a national financial news outlet. I am preparing a formal brief detailing the fiscal impact of penny production to submit to their editorial desk. We are moving forward with a structured proposal for the Treasury Department.
Reached 100 supporters
November 28, 2015
19 Comments
This is a topic that is discussed among some of my peers. We agree that coins in general are flawed. If you look at whats happening in countries mentioned by this petition, year after year their economy improves with the lack of coinage. I would rather have all coins except for the nickle and penny changed to small bills. Consumers are very much in the driver seat of this argument in terms of innovating our commerce.
But i like pennies!......just kidding!!! no i dont, they are worthless, annoying, and they have a funky smell
I do not remember the last time I have physically used a penny. Even when i find a penny on the floor, I don't pick it up because i know they are useless
Deberian eliminar esta moneda , a parte que el cobre es uno de los minerales que sube cada vez mas su precio, es una moneda que no aporta al monopolio de la economía.
Why do we even have coins that cant buy anything? I say terminate the nickle too or just switch coinage to smaller bills.
Me gusta este tema por que es la realidad de la economia .cuesta mucho fabricar los centavos.
I love how this is written, it kinda has a quirky tone.
it makes no sense to keep pennies around anymore.
Help this petition grow
Share it with friends to help reach 250 signatures.
Sign Petition
We never post to your account. Social sign-in is used only to verify your signature.
Add a comment?
Your signature will be added via .
Tell others why you're signing — it's optional.
Signing with Google or Facebook verifies your signature instantly — no email needed.
By signing, you accept our Terms and Privacy Policy and agree to occasional emails about petitions. Unsubscribe anytime.
Share this petition
Share this petition to help it reach more people.
Your share link
Petitions like this
Other petitions you might want to support
Scan to share
Anyone who scans this can sign the petition.
This is a topic that is discussed among some of my peers. We agree that coins in general are flawed. If you look at whats happening in countries mentioned by this petition, year after year their economy improves with the lack of coinage. I would rather have all coins except for the nickle and penny changed to small bills. Consumers are very much in the driver seat of this argument in terms of innovating our commerce.