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<p>[QUOTE=&quot;Michael K, post: 3455630, member: 78298&quot;]While Chris&#039; post is almost 4 years old, it is a valid question, and as many people have pointed out in several other threads, there is no point to the penny anymore.</p><p>The expense (raw materials, salaries, equipment in producing, rolling, distributing, etc.), the uselessness of such a denomination when people are moving away from cash transactions. There are around a trillion cents in circulation, and when those wear out, (30-100 years) rounding up or down to the nearest nickel is not a big deal. When checks and credit cards would still record the exact amount, only cash transactions would need to be rounded. And at the end of the year you wouldn&#039;t even be plus or minus 50 cents.</p><p>People claim if we stop producing pennies, they will be hoarded and there will be a shortage in only a few years. Not likely considering how many there are and the value of the zinc cents are unlikely to increase for 100 years.</p><p>Canada has not collapsed and they got rid of the cent (and the dollar bill).[/QUOTE]</p><p><br /></p>

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