The current value of a penny is too low relative to its manufacturing cost (about 1.5 cents) to justify the continued production and circulation of one cent coins. Additionally, the time wasted when trying to use pennies has been shown to be worth more than the pennies themselves.

Pennies are a waste of tax dollars and a drain on the US economy. Without pennies, the government simply directs how cash transactions are to be rounded to the nearest five cents.

Today, pennies are not a feasible medium of exchange and the White House should call on Congress to put forward a plan to discontinue the penny.