The purpose of currency is to facilitate trade. Currently pennies most certainly do not do this. It currently costs 2.41 cents to make one penny. The US can save over a billion dollars each year by eliminating the penny and implementing systems similar to those found in Australia, Finland, The Netherlands, and Canada. These countries round to the nearest five cents after sales tax, and transactions made online or with a debit/credit card remain un-rounded. In fact, the US military already uses this exact system.
Some would argue that eliminating pennies would make prices rise and charitable donations drop. This is simply untrue. None of the aforementioned countries saw this happen.
Our government must take a census on pennies and finally realize that pennies are a drain on the economy.