What once was a useful coin has now been deemed obsolete in our inflated economy. It is not only an inconvenience but a waste of capital. Studies have shown that using the penny in a transaction adds an extra 2 seconds. Factoring this into the average US wage and total work hours per year, this costs the US economy $2 billion per year! Also, it costs more money to produce the penny than it is worth, averaging out to 1.8 cents cost of production.
Let's retire something that is both a waste of our time and our money: the penny!