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To Eliminate or Not To Eliminate. . .

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To Eliminate or Not To Eliminate. . .

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  1. To Eliminate or Not To Eliminate. . . The Penny VF: Zachary M. Mlcoch

  2. Historical Data • 1787 • 1909 • 1989 • 1959-2008 • 2009 • 2010-Present

  3. Pro-Elimination • Anti-Penny Bill to the House of Representatives • Jim Kolbe, Arizona State Representative • RicKahn’s document – “Penny Pinchers” • Time being Wasted in Stores • William Safire’s article – “Abolish the Penny” • Current buying power of the Penny • Thesis • Although the bill to the House of Representatives failed, the debate whether to eliminate the penny as the smallest-denomination United States coin or to keep it has many pros and cons with a middle ground focused primarily on the penny’s historical roots and whether it is even worth the trouble of taking the penny out of circulation

  4. Anti-Elimination • Mark Lewis’s document – “Ban the Penny” (Ironic due to title) • Fans of the Penny rooted in Tennessee • Mark W. Weller response to William Safire’s article “Abolish the Penny” • Harris Poll #51 “Abolish the Penny? A Majority of Public says ‘No.’” • Over 50% of people of all incomes opposed abolishing the penny

  5. Mediation • Lincoln Penny Redesign by President Bush • December 22, 2005 • Trouble caused • Getting the pennies out of circulation • Coinstar Help • Pennies turned in to coinstar can either be recirculated or eliminated

  6. Bibliography Harris Poll #51. “Abolish the Penny? A majority of the Public Says ‘No.’” 15 July 2004. Web. 22 March 2012. Kahn, Ric. “Penny Pinchers.” Globe. Globe Mag., 9 October 2005. Web. 22 March 2012. Lewis, Mark. “Ban the Penny.” Forbes. Forbes Mag., 5 July 2002. Web. 22 March 2012. “President Bush signs Lincoln Penny Redesign Into Law.” Abraham Lincoln Bicentennial Commission. 22 December 2005. Web. 22 March 2012. Safire, William. “Abolish the Penny.” nytimes.com 2 June 2004. Web. 22 March 2012. Weller, Mark W. Letter. Unpublished letter to the New York Times. Americas for Common Cents. Web. 22 March 2012. U.S. Mint. “Pennies in Circulation.” http://www.kokogiak.com/megapenny/twelve.asp. Web. 26 April 2012.