Financial

Statistically, it has been quite obvious that the penny has been financially obstructive over the years. In 2006, the cost to mint a penny surpassed the original face value. As years have gone beyond 2006, the cost has risen.

Cost to Make the Penny: Chart/Graph. Digital image. Cost to Make the Penny with Chart/Graph. CC Enterprises LLC, 21 Feb. 2012. Web. 30 May 2013. <http://coincollectingenterprises.com/copper-pennies/cost-to-make-the-penny-2011>.

 As of the year of 2012, the cost has settled at nearly double. With such drastic debt that the United States is currently in it would probably be sensible to discontinue such a coin? Right? Well no. People seem to be attached to this coin because of the fact that Lincoln is on it. They don't want to give it up because it is considered "History". I find this difficult to understand because the consequences are far too large in order to come up with pitiful excuses. Heck, Lincoln is on the five dollar bill.

Financial issues go beyond just the idea of production. It affects individuals, businesses and organizations. It has been statistically proven that the time wasted with fidgeting with pennies leads to an extensive money loss through time. (People who think the saying "Time is Money" is not true need to open their mind a bit and accept the fact). Since pennies hold such a low value many are needed in order to make a reasonable transaction. By doing this a larger amount of time is taken to do this which slows down the rate of transactions. This costs both parties because they either could've received more business or gone on with other tasks.

Hundreds of millions of dollars are lost yearly because of the fact that the penny is still in circulation. It is certainly best if this coin is discontinued. Maybe we can start making good decisions in order to get out of the 16 trillion + dollar debt. Realization needs to be made for everyone as a whole.