The U.S. penny currently costs 2.41¢ to mint, significantly more than its value in circulation and the price of zinc and copper, the metals used to make pennies are expected to rise as they have since 2006. Other countries such as Australia and Canada have successfully eliminated their 1¢ coins from circulation with no repercussions to their economy. Additionally the removal of the penny is likely to benefit small business. In 2008 the cost of producing pennies exceeded their value by 14 million USD, a price that was covered by U.S. taxpayers. The only logical choice to save millions of dollars to the U.S. taxpayer is to eliminate the penny gradually, not by removing it actively but by stopping minting it. Thus the penny will eventually fall out of use.
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