Fact: It costs about 1.8 cents to produce a penny in 2011.
The penny debate has been raging on for years, and every once in a while it experiences a swell in popularity and people start to take notice of the issue. Other countries have eliminated the 1 cent coin from circulation (New Zealand), with great success.
Chances are, you have a jar collecting pennies somewhere in your house. Occasionally you rummage through all your handbags and pockets to empty out the small change that is rattling around. Am I right so far? You also get frustrated when the person on line in front of you starts counting out exact change in pennies.
What exactly can you do with your pennies? They’re not accepted in vending machines or parking meters, and I highly doubt you can purchase anything for one cent these days. (Unless you want to buy a recipe for the Happiest Cake on Earth!)
So why do we still use pennies? You may be surprised to find out that there are a lot of penny lovers still out there. Most notably, Americans for Common Cents, an organization that has been vocal in opposing all bills proposed to eliminate the one cent coin.
Can you think of any good uses for the penny? The Standard Hotel tiled the floor of their restaurant in pennies (see photo). Leave a comment below and let me know if you’re for or against the penny.
More opinions on the penny: