Would it be a good idea of the U.S. stopped making pennies?
Frankly, I don't think there's anything that you can buy with a penny anymore. And I remember hearing somewhere that it costs 2 cents to make a penny, so I doubt they are actually very profitable.
So, let's see:
Pros:
- The lowest coin, value-wise, would be the nickel, 5 cents. That would mean all change would be in multiples of 5, so making change would be much easier.
- The U.S. government would no longer have to buy the raw materials used to make the pennies, or maintain the presses used in the process of minting pennies. Less cost.
- It would be harder to track price changes in items such as gasoline.