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July 12, 2006

Are Penny Days Over?
By Caitlin Clinard

Pennies might soon be a thing of the past because it costs more to make them than they’re worth. Pennies are the type of change that few people want. They’re worth so little that people chuck them into fountains without thinking twice about the loss.

If you’re lucky, you might find a penny on the sidewalk and make a wish. About the only other thing pennies are good for anymore is filling a jar. But, if they go, then purchases will probably be rounded up to the nearest nickel. Consumer, Andrew Whitlock, says that’s not a problem.

“I know that overseas, on military bases, they don’t ship pennies over there. Their whole economy functions on American currency but they don’t use pennies because there’s no point. They cost more to ship them than they're worth so we’re much better off without them. I think people just need to embrace change and let them go,” he said.

Congress has already dropped several bills aimed at phasing the penny out. By the way, nickels also cost more to make than they’re worth.