It costs more than two cents to make a penny that’s only worth…a penny.
That fact has led some to consider whether or not the U.S. should eliminate the penny altogether. Other countries, including Canada and New Zealand, have already stopped producing coins in the smallest denomination and many feel eliminating the penny would simplify making change and save time when you’re at the cash register — an estimated 2 seconds from each transaction.
But without the penny, instead of prices that end in .98 or .67 cents, everything would end in 5s. For retailers, that would mean round UP a price, costing consumers about $2.00 each year. What’s more, a recent poll showed that two-thirds of Americans want to keep the penny around.
But what do you think? Should the country eliminate the penny? Vote in the poll and tell us your opinion, then leave a comment explaining why. Be sure to include your first name (only), age and state if you’d like your comment to be used on the show.