Video Summary : Last Week Tonight with John Oliver: Pennies (HBO)

    Edit article
    Video Summary : Last Week Tonight with John Oliver: Pennies (HBO)

  • 1 John : The US produces 8 Billion pennies every year

    John said that it costs 1.7 Cents to create a penny which makes the process of penny creation a loss. John said that the US spends $136 million a year to create $80 million worth of pennies that no one uses.

  • 2 John : A study said that 2/3 of pennies don't circulate

    John showed a video where an experiment was carried out by throwing 150 pennies in the streets then waiting for people to pick them up. After 25 minutes no one did.

  • 3 John showed another experiment

    John showed another experiment that was done years later and that showed that people weren't interested in getting pennies from the floor.

  • 4 John : 2 percent of Americans throw them in the garbage

    John showed a poll that showed that 2 percent of Americans admitted to through pennies in the garbage. 

  • 5 John : it's hard to spend pennies

    John said that the treasury department gave businesses the option to refuse payments in pennies. He showed a video of a business that rounds prices , to avoid getting paid in pennies, in customer's favor.

  • 6 John showed a video of a student who paid a fine in pennies

    John showed a video of a UNCC student who went to many different banks to get 11,000 pennies to pay a parking fine of $110 dollars.

  • 7 John showed a video of a dog that ate pennies

    John showed another video of a person who was complaining because his dog ate more than 100 pennies.

  • 8 John : Some people support the penny

    John said that there are some people who support the penny and this is why it still exists. He showed a video of someone who said that charity money couldn't have been raised without the penny. John said that those people are lobbyists for the company that cells disks that turn into pennies. 

  • 9 John : Jarden Zinc doesn't care much about pennies

    John Said that Jarden Zinc , the company that makes zinc disks that are turned into pennies, doesn't care much about pennies as they only spent $140,000 lobbying where as their parent company is worth about $10 billion dollars.

  • 10 John : Lincoln enthusiasts support pennies

    John showed a video that said that Lincoln enthusiasts will fight for the penny till the last cent.

  • 11 John : The cost of the penny can't be reduced

    John said that the treasury department said that there are no alternative metals that can reduce the manufacturing cost of the penny.

  • 12 John : The half penny stopped in 1857

    John said that the half penny was dumped in 1857 and that the penny should also be dumped.