Greater explanation here: http://www.youtube.com/watch?v=y5UT04p5f7
Pennies. They were once a useful and important part of society.
Now, they serve to do little more than sit around in coin jars. The actual purchasing power of a penny has depreciated immensely, to the point where pennies are only widely accepted at a cash register, and Coinstar machines. In many cities, even parking meters will not accept your meager pennies.
Additionally, and more importantly, the cost to actually mint a penny is nearly double the face value of the coin. This is simply illogical, and the minting of these coins needs to stop.
The US Government needs to eliminate this deficit by implementing procedures of 'rounding down or up to the nearest $.05', as well as gradually removing pennies from circulation