Americans For Common Cents: 66% of Americans Favor Keeping the Penny

March 30, 2012 05:50 PM Eastern Daylight Time

Americans For Common Cents: 66% of Americans Favor Keeping the Penny

Poll Shows Americans Concerned About Costly Price Rounding System If Penny Is Eliminated

WASHINGTON--(BUSINESS WIRE)--A poll released today by Americans for Common Cents (ACC) shows overwhelming support for the penny by the American public. Over two-thirds (67%) of those surveyed favored keeping the penny in circulation.

"Americans understand that eliminating the penny would lead to a rounding process and cost them hundreds of millions of dollars in higher prices."

"These results confirm the strong and unwavering support the penny continues to receive from America," said Mark Weller, Executive Director of ACC. Weller's group includes more than 50 organizations that support continued production of 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."

In an Economic Action Plan, Canada recently announced it will eliminate the Canadian penny from their coinage system. According to Weller, Canada's decision to remove its lowest denomination coin will have little impact on the US penny. Congress has already asked the US Mint to make recommendations later this year on how to make US coins less expensively. Congress and the Administration will likely wait for the Mint recommendations, especially in an election year when the public is sensitive to price issues.

"Suggesting that eliminating the penny saves money is wrong," Weller said. The Mint has stated publicly that it takes almost a dime - 11 cents - to make every nickel. "From a budget standpoint, it's hard to see how you save money by eliminating the penny and making more costly nickels," Weller added.

The Opinion Research poll found that over three-quarters of those surveyed (77%) were opposed to rounding cash transactions fearing merchants will raise prices rather than lose pennies and round down. "The alternative to the penny is rounding - something that Americans abhor," Weller said.

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.

Americans for Common Cents is a broad-based coalition of business and charitable organizations dedicated to keeping the penny. ACC was formed in 1990 in response to Congressional threats to eliminate the one-cent coin (www.pennies.org). Opinion Research Corporation International of Princeton, New Jersey, surveyed a national sample of 1,019 adults from March 22-25, 2012, comprised of 506 men and 513 women by phone. The margin of sampling error is +5%.

Contacts:

Americans for Common Cents
Mark W. Weller, 202-408-3933

 

President's Day - A Time to Celebrate Abraham Lincoln and Cheaper Pennies

President's Day gives us the chance - at least once a year - to recognize Abraham Lincoln's immense contributions to the country and a legacy that continues to enrich us daily.


President Lincoln is a unique cultural and historical figure," said Mark Weller, Executive Director of Americans for Common Cents. "It's not just that the front of the penny has had Lincoln's image since 1909, it's what Lincoln did for our nation," Weller added "He possessed all the qualities we want in a president -- the ability to unite a divided nation, honesty, strength, and humility," Weller concluded.


For the full press release, please click here

 

Special Announcement!

Pennies for Pasta and Pennies for Patients

These are run by The Leukemia and Lymphoma Society through its local chapters as part of its renamed Student Series program:  www.studentseries.org

For more information, you should call your local Chapter which may be found by going to the Society's website at: www.lls.org

Please note Americans for Common Cents does not get actively engaged in any fundraising activities.

Collapse of the zinc market means the penny is cheaper to make; saves taxpayers!

A collapse in metals prices means U.S. coins, including the penny, are less expensive to make. The penny has reached its lowest cost in seven years. Each 1-cent coin, made almost entirely of zinc, now costs the taxpayer much less to produce and its likely to stay that way for the foreseeable future.

Click here to read more.

More than Two-Thirds of Americans Still Favor Keeping the Penny

Recent Poll Shows Increasing Penny Support and Concern About Price Increases If Penny Is Eliminated

WASHINGTON--(BUSINESS WIRE)--A poll released today by Americans for Common Cents (ACC) continues to show overwhelming and increasing support for the penny by the American public. 68% of those surveyed favor keeping the penny in circulation, representing a slight increase since the last poll in 2012.

"These results confirm the strong and unwavering support the penny continues to receive from Americans," said Mark Weller, Executive Director of ACC. Weller's group includes more than 50 organizations that support continued production of the penny.

For the full article, please click here

Contact Us

Americans for Common Cents
1900 K Street, N.W.
Washington, DC 20006-1102    
Phone (800) 561-7909
Fax (202) 408-6399
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