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Abolish the U.S. 1 cent penny

Created by C.S. on September 28, 2013

The U.S. penny has grown obsolete.
Not only does it hold too small of a value to be considered useful to the average citizen, it actually costs the United States government $70,000,000 taxpayer dollars a year to mint, and handling pennies wastes 30 minutes of the average American citizen's time each year. This time could be used elsewhere, perhaps even to benefit the local economy or the person's own interests.
So why is something not only obsolete, but costly to the country, allowed and encouraged to be made and used?

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