Each Year, the Treasury creates an average of 9.8 Billion pennies, at a present day cost of approximately 1.7 cents per penny produced. This accounts for an average annual expenditure of $166.87 Billion, without even considering the lost opportunity cost.
The Treasury should discontinue production of pennies, and allow the free market to adjust to the elimination of pennies as the existing pennies in circulation are removed over time due to normal retirement.
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