Despite the Coin Modernization Act, ridding pennies, nickels, and $1 coins from our coin circulation would be a terrible mistake. While the material cost of production currently is more than the coins' face values, there are benefits to these coins are as follows:
*pennies and nickels make up the bulk of expendable pocket change. A 2006 U.S. poll found that 33 percent of men and 22 percent of an women don't value spare change. Charities benefit from this because, since people do not care about it, they are more likely to give it away.
*If the penny is discontinued, then merchants must round all prices, most likely driving prices up.
*the $1 coins are made mainly for collectors and dealers,whom benefit from their existence. Without them, the vast industry of coin collecting would suffer.



