It has been demonstrated by many economists that the use of the penny does not fulfill the purpose of money, which is to facilitate the exchange of goods and services. The penny is essentially worthless in our current economic system; things like vending machines and parking meters don't accept them, and they cost almost double what they are worth to mint. In addition, it has been suggested that the practice of fiddling with pennies when we pay for things costs us more in time than it is worth to do so. Other countries have stopped using their one-cent coins without ill effect. Canada will stop minting pennies this October. The president wouldn't even have to go through congress to get this done, because it is within the Treasury Department's jurisdiction. Thanks for reading.



