Simply stop minting the penny. It wouldn't be missed and the government would save vast amounts in acquisition, labor, distribution, and mgt costs.
It costs 2 cents to make a penny. Stop making pennies and round amounts to the nearest nickel.
I once read that the cost of making the penny and nickel, both outweigh the actual value of the coin.
My proposal is similar to what some banks are starting to offer, in a keep the change program.
On all *CASH* purchases, the total price, after sales tax, would be rounded up to the nearest amount,... more »
Start using $1 coins instead of the paper bill, the coins last about 15 times longer. Pennies more to make than they're worth and end up being horded because of their relatively low value. I think everyone could be persuaded to agree with this proposal, but tradition will get in the way.