23 The one-cent commonly referred to as the "penny," has been a part of United States history for over two hundred years. Its design has changed twenty-one times. History also shows that as the economy has changed, so has the value of the coin. 24 The first pennies, minted until 1857, were very large—larger than our modern day quarter and had different images of the Statue of Liberty on the front. People did not really like how big they were. Several other versions of the coin were minted before finally producing the familiar Lincoln penny in 1909. Since then, ten varieties have been minted, mostly because of changes in metal content. Changing metal content was important to try to reduce production costs. The U.S. Mint is still exploring additional designs and different, more cost effective, metal compositions for the penny. 25 The history of a reveals more than just a coin—it exposes a piece of American culture. The cent piece has influenced our language, giving us a number of idioms, such as "a penny for your thoughts" (a way to ask what someone is thinking) and "not one red cent" (meaning no money at all). The coin also gave rise to the terms like "penny candy" (a piece of candy sold for a cent) and "penny arcade" (an amusement center with machines that cost one to operate). 26 Despite its cultural influences the penny is currently under attack. The reason? Because making money also costs money. In 2011, it cost the U.S. Mint more than 2.4 cents to produce one penny. This has led many to argue that the penny is inflating the economy and should be eliminated. However, what many people fail to also consider is that the nickel, too, costs more to produce than it is worth. In 2011, the cost for the U.S. Mint to produce a nickel was over eleven cents. Even though production costs are slightly lower today, the penny still costs the U.S. just over 1.8 cents to produce. The nickel's cost is currently 9.4 cents. 27 The history of the American penny is a curious one. How long it will remain a part of our spending currency is yet to be determined.
23 The one-cent commonly referred to as the "penny," has been a part of United States history for over two hundred years. Its design has changed twenty-one times. History also shows that as the economy has changed, so has the value of the coin. 24 The first pennies, minted until 1857, were very large—larger than our modern day quarter and had different images of the Statue of Liberty on the front. People did not really like how big they were. Several other versions of the coin were minted before finally producing the familiar Lincoln penny in 1909. Since then, ten varieties have been minted, mostly because of changes in metal content. Changing metal content was important to try to reduce production costs. The U.S. Mint is still exploring additional designs and different, more cost effective, metal compositions for the penny. 25 The history of a reveals more than just a coin—it exposes a piece of American culture. The piece has influenced our language, giving us a number of idioms, such as "a penny for your thoughts" (a way to ask what someone is thinking) and "not one red cent" (meaning no money at all). The coin also gave rise to the terms like "penny candy" (a piece of candy sold for a cent) and "penny arcade" (an amusement center with machines that cost one cent to operate). 26 Despite its cultural influences the penny is currently under attack. The reason? Because making money also costs money. In 2011, it cost the U.S. Mint more than 2.4 cents to produce one penny. This has led many to argue that the penny is inflating the economy and should be eliminated. However, what many people fail to also consider is that the nickel, too, costs more to produce than it is worth. In 2011, the cost for the U.S. Mint to produce a nickel was over eleven cents. Even though production costs are slightly lower today, the penny still costs the U.S. just over 1.8 cents to produce. The nickel's cost is currently 9.4 cents. 27 The history of the American penny is a curious one. How long it will remain a part of our spending currency is yet to be determined.
MS_PreTest_Grade%208_Argumentative%20FINAL%20(4).docx