In 2012 it cost the Treasury 2.4 cents to make a penny, but also 11.2 cents to make a nickel. We have a responsibility to update the symbols of money with relation to inflation and necessity.
Both these coins cost more than double to produce than their value is worth. However the materials making a penny is still cheaper than a nickel. Therefore the Treasury should stop making nickels and have the coins once associated with one cent now be worth five.