Mad Money Machine

Cannot Eliminate the Penny Because of Greater Concerns

I’m not the only one who wants the penny eliminated. Treasury Secretary Hank Paulson said, "the penny is worth less than any other currency." But he cannot spend any time on it because of the housing crisis and slumping economy.

The article mentions a group called Citizens for Retiring the Penny but their website doesn’t seem all that active.

I reiterate that I propose not only eliminating the penny but also the nickel and quarter as well and then moving to use only one decimal place in prices. And to those who think that getting 9 dimes back in change is bad, ever heard of the "Leave a Dime, Take a Dime" tray next to the cash register? Oh wait, that was for pennies. But anyway…

Metal prices as of today according to coinflation.com:
1909-1982 Cent: 2.57 cents
1982-2008 Cent: .72 cents
1946-2008 Nickel: 7.02 cents
1965-2008 Quarter: 5.9 cents