@Forthelulz - How many transactions do you think you do per day? I buy coffee every morning, the change goes in the tip jar. I buy a pack of cigarettes. A couple cans of soda later in the day. Perhaps dinner latter for the family. So... Worse case is .20$.
No we can't get rid pf pennies for the purley bias reason that i have a jar of change thats mostly pennies. I want to use it someday to go to India or somewhere cool! I have other penny jars to fund my art projects.
@TBR The business had to get the penny from the bank, the tip jar money goes to someone working at the business, who then deposits it at the bank, rinse and repeat. The money supply still increased by two cents.
From my point of view Penny is a long lasting money, which can be used for a long period of time which saves the time to time printing of paper money, but the only problem that we are facing with is carrying of it.
We currently spend $32 BILLION EVERY YEAR just on pennies!!!!! It also cost $2.40 just to make one penny. That is basically like saying "I will give you 239 pennies if you give me one" which is just RETARDED.
One to four cents doesn’t really matter anymore. A long time ago when this country was less inflated, they would have mattered, however, they currently do not matter anymore. What I mean by “when this country was less inflated” is when items and goods cost a lot less. According to us data.Gov, the inflation rate it about two cents per year. With this calculation, $1 in 2016 is equivalent to just 4 cents in 1913. This is when pennies would have actually mattered.