The Economist says The coinage: The penny drops. Yes it probably makes sense to get rid of the penny, the cost more (now twice more) than they're worth. I didn't realize this thought...
"Other countries have eliminated low-value coins with less-than-dire results, and indeed, so has America. In 1857 it ditched the half-cent, which was then worth nearly as much in real terms as today’s dime. This has led some to suggest killing the nickel, which costs about ten cents to make, as well as the penny."
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