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There has been talk of eliminating the US penny for many years. Before they switched from the bronze alloy penny to the copper clad zinc penny it cost about 3 cents to mint every penny. Even the copper clad zinc penny costs more than a penny to mint. Of all standard issue US coinage only the nickel (5¢) and the penny cost more than their face value to mint.
Wiki User
∙ 8y ago
Wiki User
∙ 8y agoPenny is a nickname for the US one-cent coin. They are not worth much. A quarter today has the same value that a penny had in 1913. The penny today is worth 1/25 of a 1913 cent, yet in 1913 the penny was the smallest coin made and people got along fine. Pennies cost more than one cent to make. We could certainly get along fine without them and save the treasury the expense of making them.
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Why are they getting rid of the penny?
2 reasons; 1. It cost 2 cents to make them. 2. other country's are getting rid of theirs. i think we should keep the penny.
Why is the penny important?
It used to be important to create fractions of a dollar. Canada just got rid of its penny, and the U.S. might not be far behind. The penny is no longer important in our technology age when a lot is done electronically, and the penny is too costly to make.
What does a penny saved is a penny earned meant?
It means that if you save a penny,you earn that penny when you really need it to spend.
Why do they call penny loafers penny loafers?
They call Penny Loafers Penny Loafers because they are loafers in you put pennys in them
Is a penny worth a penny today?
Yes.
Did they get rid of penny?
no.
Will Barack Obama get rid of the penny?
No.
Should the U.S. get rid of the penny?
Probably.
Why are they getting rid of the penny?
2 reasons; 1. It cost 2 cents to make them. 2. other country's are getting rid of theirs. i think we should keep the penny.
Are we disrespecting Lincoln if you get rid of the penny?
No, not at all. He's still on the $5 bill. Getting rid of the penny makes a great deal of sense economically; it has nothing at all to do with whose face is on it.
When does Canada get rid of the penny?
Production ceased in 2012. The Canadian penny is still legal tender, but the Canadian Mint isn't making them anymore.
Why did they get rid of the penny?
As of 2016, the United States still produces the penny. In case you're referring to Canada, they discontinued their penny in 2012 due to production costs and the fact that inflation left it obsolete.
Why is the penny important?
It used to be important to create fractions of a dollar. Canada just got rid of its penny, and the U.S. might not be far behind. The penny is no longer important in our technology age when a lot is done electronically, and the penny is too costly to make.
Should you get rid of the penny?
no for it has been a useful way to collect money and it helps get exact change
Should we get rid of the penny?
I think so. They're worth almost nothing but cost money to produce.
Does light soda rid a penny of corrosion faster than dark colored soda?
no, dark colors do..... ;)
What does Obama say about getting rid of the penny?
During his presidency, Obama did not explicitly express his stance on getting rid of the penny. However, he did state in an interview that "It's one of those things where I think people get attached emotionally to the way things have been." This suggests that he recognized both the sentimentality and practicality arguments surrounding the penny.
