As is the one cent piece costs our nation millions every year for a coin that is rarely used, the machines refuse to take, and only slows transactions down. the coin currently costs two cents to produce due to the rising costs of nickle and copper and has been shown when abolished to not harm the consumers but in fact save them money over time when rounding to the nearest twentieth of a cent. it is time for the penny to go the way of the half cent.
as said above the price of nickle is rising, currently making the five cent piece cost eleven cents to produce. by changing the coin's materials to steel as we did during WW2 we could reduce it to a few mills to produce a single coin. (to those who don't know a mill is one thousandth of a dollar ($0.001))