Citizens to Retire the Penny

[Copper Catcher]

What can you buy with a penny?

Right now, a penny doesn't even buy a penny.

According to the U.S. Mint's 2011 annual report, the current cost of a penny is 2.4 cents per coin. With nearly 5 billion pennies minted in 2011, the U.S. spent almost $120 million to produce less than $50 million of circulating currency. When production cost is added to the opportunity cost of using the penny economists say that the penny drains almost $900 million from the national economy every year!

Right, left, or center, all parties know that the country needs to save as much money as possible, and it's impossible to save money when it's being wasted.

Source: http://www.retirethepenny.org/

[Copper Catcher]

http://www.youtube.com/watch?v=ypZLgg8Ow0k

[hobo finds]

Got to do the dollar bill first! Save more money that way...

[scyther]

Got to do the dollar bill first! Save more money that way...

But we make more money on the penny. Kill it! Off with its head! Sure, the savings are absolutely negligible compared to the debt, deficit, or budget, but in this economy, every penny counts .

[RichardPenny43]

End the penny, end RC?