Please discontinue the minting of pennies. Pennies cost almost twice as much to make as they are worth, wasting tax $.

The one cent coin in the United States of America, the "penny" costs 1.8x more than they are worth. We produce around 4 billion of these coins every year which is a loss of 72 million dollars of tax payers money every year. One may argue that we need pennies because products being purchased end in numbers like .01-.04, however this argument is invalid if you were to look at the fact we have already phased out the half cent coin when it went obsolete. Many other countries have also phased out their 1 cent coin such as New Zealand, Finland, the Netherlands... and most recently Canada is phasing out their one cent coin which is estimated to save them 17 million $ a year. Don't worry about killing off President Lincoln either since he will always live on with the 5$ bill. Research this please.