73% of Americans Favor Keeping the Penny

FOR IMMEDIATE RELEASE
Contact: Mark Weller
800/561-7909


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

Washington, DC - A poll released today by Americans for Common Cents shows overwhelming support for the penny by the American public. The vast majority of those surveyed favored keeping the penny in circulation, a sentiment heightened when people were made aware of the penny's charitable importance, and most expressed significant concerns about higher consumer prices if the penny is eliminated.

"These results confirm the strong and unwavering support the penny continues to receive from America." said Weller. "Americans understand that eliminating the penny would lead to a rounding process and cost them hundreds of millions of dollars in higher prices. Current and future generations of Americans deserve to live in a country where a penny saved truly is a penny earned."

The poll results showed that:

    * Three out of four adults (73%) favor keeping the penny in circulation;
    * A mere 12.6% agree the penny should be removed from circulation when people are told that millions of dollars in pennies are contributed to charities each year;
    * 76% were concerned that if the government implements a rounding system for cash purchases, businesses might raise prices;
    * 69% of Americans oppose eliminating the penny and establishing a price rounding system.

An analysis by Raymond Lombra, PhD, Professor of Economics at Penn State University confirms these concerns. He found that eliminating the penny would lead to a rounding of prices in America that he estimates would cost consumers more than $600 million every year.

Polling results over the last eight years demonstrate the widespread support the penny enjoys with the public. Opinion Research polls in 1995 and 1996 found 73% and 76% of Americans, respectively, support the penny. A 1992 CNN/Time survey and a 1990 Gallup poll produced similar favorable results.

"Keeping the penny in circulation will avoid an inflationary rounding process and is what the American people want," said Weller. "It's just common cents."

Americans for Common Cents is a broad-based coalition of business and charitable organizations dedicated to keeping the penny. The coalition was formed in 1990 in response to Congressional threats to eliminate the one-cent coin. Opinion Research Corporation International of Princeton, New Jersey, surveyed a national sample of 1,009 adults, comprised of 507 men and 502 women by phone. The margin of sampling error is +3%.

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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

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Americans for Common Cents
1900 K Street, N.W.
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