Would any of you support dumping the penny as US currency? In your home nation, is there a similar low value coin you would opt to dispose of? Obviously, transactions would be rounded for cash, but could be preserved at current levels of accuracy for electronic transactions.
Insert Superman II plot joke here.
Although the production of most all US coins is declining, down from the peak at which about 50 pennies were produced per person in the US per year, there are still literally tons of coins produced and shipped around the nation wasting a great deal of time and energy above and beyond the time required to make exact change.
The overwhelming majority of pennies do not make it back to banks (whereas the majority of more valuable coins, such as quarters, do) meaning on net most are simply lost.
Edited, Nov 9th 2010 8:55am by yossarian