speech slides

8/7/2019 Speech Slides

1/17

Penny Should be Discontinued.


2/17


3/17

Arguments for Preservation

1) Some organization rely on donations from

the collection of pennies.

2) The penny was one of the first coinsauthorized to be minted by the American

government.

3) The penny depicts former president Abraham

Lincoln.


4/17


5/17

Solutions:

1) We can mint penny only for collectors.

Example: Finnish euro (They dont use 1 and 2

cents in the market. British were using half pennycoin before but from the circulation of Dec. 1984,they stop using that coin.

2) Charitable institution can use some otherdenotations to collect donation( Like: Dime, orNickel)


6/17


7/17

Are you a Penny Lover?Limited Utility!!!!!!

1) Penny are not accepted by all vending machines

or toll machine, and pennies are generally not

accepted in bulk.

2) People often do not use pennies to pay at all;

they may simply use larger denominations andget pennies in return.


8/17

Are you a Penny Lover?Production at a loss:1) U.S. mint director ED Moy said it costs

almost 1.7 cents to make a penny.

2) Each year, the U.S. mint makes 8 billion

pennies, at a cost of $ 130 million.

Americantaxpayer lose nearly $ 50 million in the

process.


9/17

Are you a Penny Lover?

Distribution Cost:

1) Federal Reserve, banks, retailers and

customers lose millions of dollar and timehandling these nearly worthless coins.

2) It costs more in employees hours, wait forbuyers, then to count, pack up and take them

to the bank.


10/17

Are you a Penny Lover? Lost productivity and opportunity cost of use

With the average wage in the U.S.

being about $17 per hour in 2006, it takesabout two seconds to earn one cent.If ittakes only two seconds extra for each cash

transaction that uses a penny, the cost oftime wasted in the U.S. per person is about$3.65 annually, about $1 billion for allAmerica.


11/17

Are You a Tax Payer?

How much do you want to pay just for using

the penny?


12/17

Pennies are Dangerous!!!

Penny holds dangers when swallowed bychildren and other. If the copper plating isbreached, the penny quickly change into a

sharp-edged object, which is more likely tolodge in the digestive system.

A dog can be fatally poisoned by swallowing apenny because of dogs higher sensitivity tozinc toxicity and lower body weight.


13/17

Do not be Fool !!

Pennies are used to fool people into thinking

they are getting a deal when they seesomething with a price tag of $9.98, and they

buy it thinking its less than 10 bucks


14/17

My Questions??

What are two pennies really

worth?

What are people really going to

be able to buy with the twopennies they saved?


15/17

Your Answer will be .!!!

NOTHING!!


16/17

Discussion by the Government

Previously, Two Laws are purposed in the U.S.

Congress would have ceased production ofpennies, but neither bill was approved.

Such a law would leave the nickel, at 5, asthe lowest-value coin.


17/17

Penny should be Discontinued

Bye Bye

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