Columnist ponders the future of the penny

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When I was young, coins never ceased to amaze me. They were full of possibilities, for they could be flipped, spun, counted, organized, shined—the opportunities were endless. But unlike many of my other toys, they were worth something in the world. Coins could be used to purchase other items, so they were powerful in my eyes.

As a result, coins made frequent appearances on my Christmas and birthday wish lists. From that vague request, I received coin collection booklets, newly minted sets of US coins, coins from foreign countries, half-dollar and dollar coins, antique coins that are no longer in circulation and so much more.
To this day, I still have a sort of fondness for coins, and for this reason, when I first heard the U.S. penny was in danger of being discontinued, I was worried. The fact that Congress was debating no long minting the penny was alarming. If the legislation succeeded, how long would it be before the nickel, dime, and quarter followed?
Yet as I began to further research the topic, my opinion shifted. As much as I love pennies, there is no practical reason to keep them.
For example, according to the 2008 ABC News article “Penny Problem: Not Worth Metal It’s Made Of,” it costs around 1.7 cents to mint each penny, while the penny itself is only worth one cent. As a result, with each penny the government mints, they lose money, an expense that can hardly be afforded with our economy today.
In addition, the penny unnecessarily takes up cashiers’ time around the country. The tedious task of counting each penny and then giving out in change increases each cash transaction’s length, thus delaying customers waiting in line as well. This wasted time could obviously be used for more productive activities by all parties involved.
One of the largest issues with the penny is that, due to inflation over the years, the penny has barely any monetary value. When our parents and grandparents were children, a penny could buy a piece of candy or a small toy, but today it is worth virtually nothing. One twenty-fifth of a gumball is about as much as you can buy.
Although pennies were a large part of my childhood, I think it is time to say good-bye to the penny because it is just not worth all the trouble it causes. And if it really does get discontinued, think of it this way—save up your pennies now and in 100 years, they might actually be worth something.