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April 01, 2012



What really needs to happen is eliminating not only the penny, but the nickel as well, since both cost more to make than they're worth (about 2 cents per penny, and 11 cents per nickel).

There are 2 bills currently in Congress suggesting that the composition be changed to steel for both (currently mostly zinc for pennies and copper for nickels). This would at least have the advantage of finally making giant magnets a useful tool for pickpocketing.


Getting rid of the penny and nickel is long overdue. Of course, pragmatism is not one of Washington's strong points. If it wasn't for the Coinstar machines I would probably throw my loose pennies away. Not worth the time to wrap them ( I do not bank locally ), and time is money. Back when Ben Franklin said a penny saved is a penny earned, I think its value was about 40 times what it is today.

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