Pennies waste both money and time. They cost 1.6 cents to make, yet the United States Mint continues to manufacture more than 8 billion of these a year. This translates to a waste of 5.2 billion dollars. Vending machines, coin laundries, parking meters, they do not use pennies. They waste 2 seconds per transaction. It does not seem like a lot of wasted time, until you realize the frequency of cash transactions: bookstores, restaurants, cafes, corner stores, they all take cash. No wonder the term "penny dreadful" exists! Isn't it time that we stop using this wasteful coin?
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