Find a Penny, Pick It Up. All Day Long You'll Have...Lost Money.

Here's something to think about the next time you see a filthy Abe Lincoln on the sidewalk.

If there is a penny on the ground, is it worth your time to pick it up?

Keep reading Show less

There Are $39 Million Reasons to Stop Making the Penny

Find a penny, pick it up, all year long, you'll have that f*cking penny. There is a mounting consensus that the US should retire its tiniest coin. 

Find a penny, pick it up, all year long, you'll have that f*cking penny.

According to the US Mint, the cost of making a penny in 2015 was 1.4 cents. These cents add up to millions of wasted dollars every year, and in 2015 alone, its production cost taxpayers $39 million. Meanwhile, even my local vending machines won’t accept them for the cent that they’re supposedly worth. Given how hard it is to spend a penny and that the raw materials are worth more intrinsically than pennies themselves, it’s hard to see why the government bothers to continue making them. As Binyamin Appelbaum points out in The New York Times, if the purpose of currency is to facilitate commerce, the penny is clearly failing. 

Keep reading Show less
Quantcast