The US Penny Should be Taken out of Service

To start this debate, I'd like to define some of the key terms and state that I am con, firmly arguing why the US penny should not be taken out of service. Definitions: Penny Taken Out of Service: All pennies within the United States will neither be minted nor accepted as legal tender. Plan: As I am Con, it is not my job to address a plan, so the plan must be addressed by Pro. Burden of Proof: Here, I'd like to establish a 3-pronged burden of proof for Pro. In order for Pro to win this debate, he/she must prove the following three items: 1) The harm of the penny is sufficient enough to justify its removal from the market. 2) Taking the penny out of service will minimalistically harm the economy. 3) Their plan is good enough to transition into this change smoothly with minimal harm and maximum benefit. If any fragment of these three items is left unproved, then I, Con, will win this debate. Arguments: I would like to bring 2 major points into this debate. Argument 1: Economical Harm The US penny should not be taken out of service because it will harm the economy. Even though it is only one cent, the penny is extremely important in the way the US economic system works. How can we achieve the same amount of exactness in change and payments as we do with the penny? The only answer is rounding, but that is detrimental to the economy. According to pennies. org, propositions take the penny out of service and utilize the nickel as the coin of lowest value create public anxiety about higher prices and inflation. Over three-quarters of Americans (77%) are concerned that merchants would raise prices without the penny. And, most likely, they are correct. Professor of Economics at Penn State University Raymond Lombra, Ph. D. said to a Congressional committee that rounding cash sales up or down to the nearest nickel would cost consumers over $600 million annually. For example, you are a merchant who runs a clothing store. You charge $11 for a t-shirt, and the sales tax in California is 7.5%. You have a customer, and he/she pays in cash. The amount comes down to $11.86 with the sales tax. But, wait" you have no pennies! How do you get the extra cent when there are no cents? The only answer is to round the price down to $11.85, but then you're losing a cent! When the penny is taken out of service, multiply this example by millions per day, and, as Raymond Lombra puts it, $600 million is now lost per year versus when the penny was still in service. $600 million dollars being lost just from taking a coin out of service is an extremely significant amount that cannot be ignored. A whopping majority of 77% of the general public is worried about taking the penny out of service. Without the penny, the the general public will lose money and the US economic situation will worsen. Argument 2: Charities The US penny should not be taken out of service because charities need pennies. There are a plethora of small charities that depend on penny drive to bring in donations. People think nothing of pouring out their old penny jars to support these drives, but they won't part with nickels so easily. Many corporations, national charities, schools, and local philanthropies have realized the worth of the penny. Through the use of point-of-sale collections, penny drives and competitive penny fundraisers, these groups have turned thousands of idle pennies into real dollars for everything from college scholarships to cancer research and housing for the homeless. One major example is Pennies for Patients, and without pennies, it would be nickels for patients, but that doesn't sound good! Pennies always have a worth to someone no matter who he/she may be. Pennies rescue people battling terrible diseases such as cancer. Pennies can save lives. College scholarships and cancer research rely on pennies. We, the opposition, want the best in the future, and the best is not to eliminate the penny.