Stop Minting the Penny
Simply stop minting the penny. It wouldn't be missed and the government would save vast amounts in acquisition, labor, distribution, and mgt costs.
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.
While I appreciate the intent, the production fo the Presidential Dollar coins are a complete waste of resources. There is no legitimate reason to produce a new coin and then put them in storage. Evenmore, there is no reason to build new storage space to store coins that are not going to be circulated.
The dollar coin is useless because, by touch, it is indistinguishable from a quarter. The British Pound is a useful coin because it's a convenient unit AND easy to find in your pocket. Changing the weight and size would allow continuance of the coin production, but put useable dollars into circulation. The easier it is to spend a dollar, the faster this recovery will be.
Department of Homeland Security
Pennies cost twice as much to produce as their value. It is time to stop making more.