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Wow, the penny is being done away with, in a value sense at least.

As you can see, it says since copper costs more than the penny does, the government would be losing money by keeping the penny as one cent face value. This man proposes all penies become five cents so there would be a high circulation of coins and do away with a useless monetary value.

To me, it seems a little odd to have two coins worth five cents, but, any coin that can be melted is no longer worth the trouble. At the same time though, if this actually happens, a dollar in pennies would become five dollars! Would this cause an even bigger economic problem or not, I'm not real clear on the issue of economics.

The implications of this are indeed interesting. I'll bet currency speculators buying up pennies like crazy at 1 cent apiece; that's a 500% profit margin investment right there! The currency market would go bonkers.

Thus, I doubt this is seriously being considered. On the other hand...maybe I should go clean my bank out of pennies...

That is why it will never happen.

If nothing else, the Mint will just stop making pennies, and just let it slowly works it's way out of circulation. That's really the only thing that makes sense.