Penny Eslpod Metal Worth Government Make Materials Sell

In the United States, a "penny" is the lowest-value "coin" (circular, flat, metal money) and is worth only one "cent" (1/100thof a dollar). It does not have very much "purchasing power" (the ability to buy something)-almost nothing can be purchased for a single penny "these days" (in modern times). So there is a "debate" (discussion) about whether the government should "eliminate" (get rid of) the penny.

It costs the government about 1.8 cents to make a penny. In other words, the penny is worth less than the materials and labor used to create it! In 2007, the price of "raw materials" (the basic, unprocessed materials from which something is made) in a penny was higher than the value of the penny itself, so some people were worried that pennies would be "melted down" (exposed to high heat to turn into a liquid) to sell the raw materials.

Another argument for eliminating the penny is that low-value coins make "transactions" (buying and selling) slower. Others argue that pennies are "worthless" (without value) because they are not accepted in "vending machines" (machines that sell food, drink, or other items without interacting with a person).

In 1990 and 2006, Congress considered "bills" (proposals for new laws) that would have eliminated the penny, but neither of the bills became law. In addition, President Barak Obama and the Secretary of the Treasury had both considered eliminating the penny, but as of late 2016 there are no "concrete" (clear, specific, and well-defined) plans to do so.