Canada had just announced that it will be eliminating its one cent coin and rounding to the nearest five cents. The U.S. Mint spent two cents to produce and ship each of the 5.8 billion pennies sent to banks last year, which ended up in a loss for the treasury.
American consumers have shown they don't value the penny, even if most polls show opposition to getting rid of the coin.
The US should eliminate it's one cent coin like many other countries to save time and money.
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