While the existence of the penny is insignificant as compared to other monetary denominations in the U.S., its importance in American history as well as tradition cannot be undermined. It has been and turned out to be a subject of controversy on many occasions with the arguments of benefits, pertinence and future use.
A few Words about Penny
The first United States penny was produced in 1793, containing 100% copper, and it was considerably bigger than the present one. It has undergone changes in both material and design as time went by. The most popular model with Abraham Lincoln’s portrait was introduced in 1909 on the occasion of one century since his birth. In the year 1982, the American Mint changed the penny to mostly zinc instead of 95% copper, and only a thin layer of copper on the surface.
Should the Penny be Abolished: Bridging the Argument Gap
In addition, there has been an ongoing argument on whether or not it is necessary for the retailers to accept pennies as a mode of payment. The establishment of this state comes up with a new rule balancing to (sic) the two opposing inputs.
The Time to Get Rid of the Penny Debate
Keeping the denomination of one penny bill has always been another heated topic. Among the critiques of the abolition of the penny are the claims that it is costly to produce since every penny costs more than 2.5 cents to make. Furthermore, there in is a legitimate argument that point transactions with pennies, in effect, are frustrating when they are lost or discarded rather than used.
That said, to many people, getting rid of the penny means going to very wide exceptions. There are many reasons to feel that way, the attractiveness of the penny as a loyal reproduction of Abraham Lincoln remains the most at the top of the list.
Other Penny Facts
The phrase ‘a penny for your thoughts’ can be traced back to the 1500s.
Most people think of pennies as brown, but when they are new, they are very bright and copper colored.
The most valuable penny ever sold was the 1943 copper penny which sold for over $1 m in a rare penny auction.
Impressions
Although a countable thing one seemingly unimportant entity the penny is, it comprises a noteworthy account in American history, and obviously finding a place in issues of money and society. As to whether it will stay in circulation or becomes forgotten over time, the definition of the penny to American society will not cease to exist.