Shared publicly  - 
Minting coins cost U.S. taxpayers $436 million last year. Is it time to pinch the penny for good? |

(Photo: Stephen Hilger/Bloomberg)
Dachi C's profile photoUlrike Singer-Bayrle's profile photoelthomaso X's profile photoAlbert Sheldon's profile photo
Yes.  The penny is irrelevant, and while we're at it, let's drop the nickel too.  Round everything to the nearest dime and save the cost of minting both.
David H
So why not round everything to the nearest dollar, and not mint any coins.
I think the nickel is a good cutoff point.  Nobody buys anything for less than a dime, and even that's rare.  I suppose you would still need dimes for vending machines.
David H
+Davitt Potter exactly... I do understand dropping the penny, since it could easily be removed from transactions with minimal loss (short term thinking). Maybe we could get rid of the fuels $0.009 (i.e. $4.019) charges while we are at it.
David H
+Brent Alexander Nickels still have some relevance considering that it can be combined to create $0.10 or more for vending machines which typically have a $0.05 step to the prices.
David H  Fuel is the only reason that I can think for keeping the penny, since there is such a low profit margine for fuel at the pump giving up $0.04 means you lost money on that gallon of fuel. If the customer uses a Credit or Debit card and they only got a couple of gallons the store lost money on the whole sale because fees that the banks charge.

The $0.009 at gas stations is just a marketing trick. When most people read $4.019 they think $4.01 not $4.02, so as long as the penny is around I think that will stay.
Drop it.  I remember my first trip to England, courtesy of the US Air Force, in 1977 being surprised that pennies were not used on base.  Everything's rounded to the nearest $0.05.  And that's another reason: I cannot remember the last time a cent sign on a keyboard.
Dachi C
Or maybe use some other mineral? Make them out of plastic...?
Add a comment...