We petition to eliminate the one-cent coin from U.S. currency due to (1) its excessive cost of production relative to face value, (2) the increased accumulation of pennies in households, (3) environmental considerations, and (4) the significant handling costs the penny imposes on retailers, financial institutions and the economy in general.
This would only affect cash transactions. All other financial transactions and records would continue to use accuracy to the one cent level. When making purchases, the total amount (not amounts for each individual item) would get rounded to the nearest five cents. Example: transactions ending in 1 and 2 are rounded down to zero, 3 and 4 are rounded up to five, 6 and 7 are rounded down to five, 8 and 9 are rounded up to zero.