On Friday night's news, we hear that Canada intends to eliminate their penny. In that country, it costs 1.5 cents to produce one penny. Pricing of goods there would be rounded out to the nearest five cents; in fact, many have begun this practice already.
Here, in the good ol' U.S.A., the penny has been in existence since 1787. Our administration is looking at less costly materials to make our penny which is currently 97.5 percent zinc and 2.5 percent copper. It costs 2.41 cents to mint one cent. And it's still necessary to mint them since so many people, my husband among them, save pennies.