Have you heard the debate about the penny? If not, take a look here. The penny is costing us billions of dollars a year in lost time and funds.
We (or rather the U.S. Mint) have been making the penny at a loss for the past two years (it currently costs 1.7 cents to make one cent) and it’s only going to get more expensive from here as the price of metals keeps rising.
But apparently, there are still millions of people that want to keep the penny.
For the life of me, I don’t understand why…and before you start thinking of all the reason (more like myths) for not getting rid of the penny (ex. if we didn’t have it, prices would be rounded up) please take a look at this.