Cease production of the penny.

As of last year the cost of producing a penny was 1.6 cents (Annual Report, 2013), and since 7,070,000,000 pennies were produced (Circulating Coins, 2013), the amount spent on production alone was $113,120,000, leaving the Mint with a deficit of $42,420,000. If the penny was eliminated, we would save hundreds of millions of dollars that could go to other governmental departments.