Here's a link to an article on MSN's Money Central about the possible demise of Abe: http://articles.moneycentral.msn.com/News/TimeToKillOffThePenny.aspx
My prediction is that nothing will change until the 100th anniversary lincoln cent is minted. After that, the most logical change would be to begin minting a copper 5 cent piece with a new design to replace both the cent and the nickel. The cents already in circulation could either just be left alone or revalued upward to 5 cents each. This probably wouldn't have a large economic impact as long as the information doesn't leak out ahead of time. I believe this has been done a few times in other countries with no bad side effects.
Revaluing pennies into 5 cent pieces seems logical to me, easy way of getting rid of the worthless 1 cents.......
Well, you can take the cent out of circulation, but it's not necessary to round prices up for those using debit cards...
I would agree that the cent should be done away with. As a taxpayer, it makes no sense to keep producing, very few things cost 1 cent anymore and tlhey are a pain to deal with. Let's just round coin transactions to the nearest 5 cents.
This is becominga popular subject. However, not with the government. Newspaper articles, magazines, these coin and currency forums can discuss things like this but if the government wants a cent, there will be a cent. Most complaints are that it cost more to produce a cent than it's worth. So what? When has our government ever cared about that?
And as someone had mentioned before on this forum. What ever they lose on the cent and nickel they make up handsomely for on the dime, quarter, half and dollar coins considering the actual metal value in them.
