Why does the Penny Endure? (as reported by Geoff Williams via usnews.com)

On February 4, Canada announced that it would cease to produce Canadian pennies. While this is of little significance in the U.S., it has reinvigorated an old question related to why the penny endures. In 2012, the U.S. produced $49 million in pennies. It cost $118 million. This cost inequality aside, how often do people actually use pennies? Be honest with yourself: how often do you actually spend pennies? An article was recently published enumerates reasons why, while our neighbors to the north may have recently abandoned the bit of copper currency, the U.S. seems less likely to do so. It can be found here.

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