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.
The poll found that nearly three-quarters of Americans (73%) were concerned that without the penny merchants might use price rounding to raise prices. “The public understands that eliminating the penny would lead to a rounding process and cost them hundreds of millions of dollars in higher prices,” Weller said.
Confirming that the penny is an economic issue, the polling data showed that support for the penny was strongest among lower income groups. 71% of those earning $35,000 or less per year want to keep the penny. There is strong penny support among minorities with 75% of Hispanics and 77% of African Americans wanting to keep the coin. More women (73%) than men (62%) want to keep the penny.
The survey was conducted from over 1,000 randomly selected landline and mobile telephone numbers December 4-7.