“Eliminate the Penny” – Suggested Letter
Dear (Representative’s Name),
I am contacting you to ask you to support the idea of pitching the penny. According to an annual report put out by the US mint, a penny costs 2 cents to produce, and worse than that, it’s been costing more than its face value to mint since 2006. In 2012 we spent $58 million producing pennies. Yet what can one penny buy?
The reason for having a monetary system is to facilitate exchange. If most people are saving, stashing or even tossing pennies aside, we are not using this coin to promote commerce, thus it’s not really serving us very well anymore.
U.S. military bases overseas don’t see the sense in using pennies anymore; Canada stopped minting pennies last year; and many other countries such as Australia and New Zealand have also pitched their pennies. Isn’t it time we follow suit?
I highly support the elimination of the U.S. penny and hope you too will join forces to help us cut this wasteful spending.