Eliminate the penny from our monetary system due to simple fact that they cost more than they are worth.

The penny is a coin that we subsidize every year. It costs around 1.6 cents in raw materials to make a penny. The United States Government makes on average around three billion pennies each year. which means that every year it costs on average six hundred forty million dollars for something worth four hundred million dollars. This is two hundred sixty million dollars wasted every year on something that is practically worthless. Studies have shown that there are almost no negative effects in the economy or charitable foundations due to the lack of the penny in circulation. It has been eliminated from many other major countries around the world without any ill-effects. It is a drain on our nations budget and should be eliminated immediately.