The penny is unless nothing costs one cent anymore. This is simply trying to curb pointless government spending. Stop making pennies.
As of 2013, based on the US Mint Annual Report released in 2014, it costs the U.S. Mint 1.83 cents.
The loss in profitability due to producing the one cent coin in the United States for the year of 2013 was $55,000,000.
That is fifty-five million taxes dollars that are just wasted and as a tax payer I would like my money to go to something useful.