In the 1950's, small candies cost a penny, and full-size chocolate bars were 5 cents. Today those chocolate bars are $1, if you're lucky. Having a coin equivalent to 1/5 of a candy bar made sense, but 1/100 of a candy bar?
The simple solution: eliminate pennies and round every cash transaction up or down to the nearest nickel. Cents could remain in check or credit transactions.
The 1.8 cents it costs to produce each penny would be eliminated. We'd no longer have the annoying choice of digging in our pockets for pennies or getting 9 coins back when paying for a $9.01 purchase with a ten-dollar bill. We'd be less weighed down with coins. Consumers, merchants, and banks wouldn't have to bother with counting and trading in all those pennies.
And in fact, let's get rid of nickels too!
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