The US Penny is a parasite in our economy- offering nothing while taking from American taxpayers. The US loses around 65 million dollars annually due to this useless coin.
Abolishing it would not only save us money, but time as well. If you are at the store paying for something and the total comes to about $25.06, and you are paying with cash, finding that extra penny would be wasting your time and the time of everybody behind you in line. We should adopt the system of rounding to the nearest 5 cents if paying with cash. That amount of $25.06 would now be $25.05 not only saving you a penny but saving you time as well. If paying with a credit card however, the amount of $25.06 would be charged to your account.