With Canada now withdrawing their one-cent coin from circulation and the Great Britain debating whether they should stop producing their penny, some are looking to the United States to figure out a direction. In fact, a line buried in an article whose link was lost in the digital surf noted that the European Union will keep its 1- and 2-eurocent coins while waiting to see what the United States and Great Britain does.
There are good arguments on both sides ranging from the coin is too expensive to make to the argument that rounding creates a regressive tax on those who pay using cash. These coins are annoying or they provide equality with those paying cash versus those paying with credit.
An alternative would be to change the composition of the coin. Various new metals can make the coin profitable again and keeping the coin in production. Even keeping the costs at par would be better than the negative seigniorage the U.S. Mint generates today.
What do you think?
Should the United State stop producing the one-cent coin?
Total Voters: 91
Image is The King of Errors: 1955 Double-Die Obverse that was graded AU-58BN by NGC proudly owned by the author.