Simply stop minting the penny. It wouldn't be missed and the government would save vast amounts in acquisition, labor, distribution, and mgt costs.
Department of the Treasury
Showing 3 ideas for tag "penny"
It costs 2 cents to make a penny. Stop making pennies and round amounts to the nearest nickel.
Allow stores to round the price of cash purchases to the nearest nickle or dime. Transactions ending in .x1 and .x2 are rounded down to .x0, transactions ending in .x3 and .x4 are rounded to .x5, transactions ending in .x6 and .x7 are rounded to .x5, and transactions ending in .x8 and .x9 are rounded to .x0. This would be used only for CASH purchases, and is applied at the cash registered on the total price of the purchase,... more »