The one cent coin is the most produced and has been in circulation for a long time. I think we have come to a time where one cent is a very obsolete amount of money. It costs more to make a penny than it is worth. Most people even ignore it. I dont think it will improve the economy a lot but will definitely change it.
I think it has the potential to improve the country's economy. If you eliminate the penny and all prices then end in 5's of 0's, the prices of most goods would then increase. I highly doubt companies would round down. This means people would be spending more. I think generally speaking, this would improve the economy.
I do not think the penny will improve the economy in the U.S. Pennies can be annoying to carry around, but I would be concerned that the price of many items would rise since merchants would be more likely to round up than down. It doesn't sound like much, a few cents here and there, but it can add up over time.
I really do not get it what all the fuss is about with these "remove one-cent", "remove nickels" movements. I have watched several videos of those societies on their own official web pages, where they try to explain how and why is that move so needed, but I wasn't convinced. The way I see it, and I'm not an economist mind you, so I'm probably missing something, that is too much hastle and discomfort in order to bring some measly savings. And all that over and issue that big majority of people actually ignore and are not bothered by it at all.