Cease penny production as soon as possible.

The penny has become too insignificant in value to justify its existence, and has come to be a waste of time and resources. Pennies literally cost more than they are worth at a production cost of 1.7 cents per penny. In addition, various studies have shown that time spent wasted handling small change amounts to roughly one billion dollars in productivity lost per year, nationwide. The only reason pennies are still in existence is the sentimental value they hold among the American people. When it comes down to facts, the penny clearly has no place in the modern economy. United States mints should cease penny production as soon as possible and simply round off all prices to the nearest five cents.