Americans for Common Cents

The Penny's Impact: Every Cent Counts!

The penny continues to enjoy overwhelming support from a majority of Americans, and for good reason. It plays an important role in our everyday lives and in our nation's economy, and alternatives have consumer and social costs. Consumers benefit with a low denomination coin, with the penny helping keep high prices in check for millions of America's hardworking families. The penny also fuels charitable causes, allowing America's wonderful charities to raise millions of dollars.

By contrast, eliminating the penny would increase spending for many federal government programs, causing inflationary pressures, and it wouldn't save money. The U.S. Mint has said that without the penny, fixed costs associated with penny production would have to be absorbed by the remaining denominations of circulating coins.

Our Mission

Americans for Common Cents aims to inform and educate policymakers, consumers, and the media about the penny’s economic, cultural, and historical significance.  Through coalition building, media outreach, and community partnerships, ACC attempts to ensure that accurate information about the penny is widely disseminated, and that the impact of any changes to the penny’s role in our nation’s monetary supply is adequately understood.

Support for the Penny

TWO-THIRDS OF AMERICANS WANT TO KEEP THE PENNY

An overwhelming number of Americans want to keep the penny. A 2012 poll conducted by Americans for Common Cents found over two-thirds (67%) of those surveyed favor keeping the penny in circulation.

These results confirm the strong and unwavering public support for the penny. Americans understand that eliminating the penny would lead to a rounding process and cost them hundreds of millions of dollars in higher prices.

The poll results showed that:

  • Over two-thirds of adults (67%) favor keeping the penny in circulation;
  • 77% were concerned that if the government implements a rounding system for cash purchases, businesses might raise prices;
  • 66% of Americans oppose eliminating the penny and establishing a price rounding system.

National polling over the past two decades has consistently shown that between two-thirds and three-fourths of Americans support keeping the cent in circulation.

A Gallup Organization poll in 1990 and Opinion Research Corporation surveys conducted in 1995, 1996, 2001, and 2006 show Americans are persuaded by several factors, such as antipathy toward price rounding. And a 1992 CNN/Time survey conducted by Yankelovich found 74 percent of Americans support keeping the penny in circulation. The importance of preserving the penny goes well beyond high public acceptance and historical significance. A 2006 Coinstar National Currency Poll found that public support spiked when people became educated about the issues around the penny, such as rounding at the cash register. Public support for the penny jumped to 79% in 2006, a time when Congress was discussing penny elimination.

Thus, polls conducted by Americans for Common Cents and independent polls such as those by Coinstar, USA Today, and CNN/Time show overwhelming public support for the penny.

Links of interest:

 

The Penny's Impact: Every Cent Counts!

What Does it Really Cost to Make a Penny?

Recent reports about penny costs have led some to ask if the government would save money by eliminating production of the penny. So, are we better off financially without the penny? The answer is "no" according to a recent report by Navigant Consulting, Inc.

Navigant found the government would actually lose money without the penny. How? Click here to read more

WHAT DOES IT REALLY COST TO MAKE A PENNY?

 

Recent reports about penny costs have led some to ask if the government would save money by eliminating production of the penny. So, are we better off financially without the penny? The answer is "no" according to a recent report by Navigant Consulting, Inc.

 

Navigant found the government would actually lose money without the penny.  How? Click here to read more

Contact Us

Americans for Common Cents
1301 K Street NW     
Suite 600, East Tower     
Washington, D.C. 20005-3364     
Phone (800) 561-7909
Fax (202) 408-6399
This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Penny News

Does time spent at the cash register really "cost" the economy millions of dollars? Are retail workers actually paid according to their productivity? The answer to both questions is a resounding "No" according to Americans for Common Cents (ACC) Executive Director, Mark Weller.

Read more...

It's ironic that on the eve of President's Day weekend President Obama said he would support eliminating the penny. "Such a move would remove the image of one of our great presidents, Abraham Lincoln, from public view in our circulating coinage and harm consumers," said Americans for Common Cents Executive Director Mark Weller.

Read more...

Our Two Cents

twitter Bird more info...!

Lincoln In His Own Words

Better to remain silent and be thought a fool than to speak out and remove all doubt.
Abraham Lincoln

Facebook