The United States needs to stop minting pennies and nickels.
The purpose of money is to facilitate the exchange of goods and services.
Pennies and nickels no longer do this.
In 2010 a penny cost the United States mint 1.7 cents per penny to mint, and a nickel cost the United States 9.2 cents per nickel to mint. Resulting in a loss of $42.6 million. (US Mint annual report 2010)
New Zealand and Australia have both removed their pennies and it did not effect their economies.
We propose that the United States stop minting these coins and slowly let them leave circulation. Transactions in cash would then be rounded to the nearest ten cents.
For more information watch:
http://www.youtube.com/watch?v=y5UT04p5f7U