Do you think inflation has killed the penny?

Question

Like do you think that we should maybe do away with the penny, or do you think ole Abe Lincoln still has a place on fake copper coins?

Answer 1

What do you mean fake copper coins, they've never been classified as copper, and the US Mint just switched to cheaper metals and didn't try to make them look copper.

Answer 2

In Australia we did away with one and two cent pieces quite some years ago and it didn't seem to cause any problems. Aso we changed our one and two dollar notes to coins.

Answer 3

I think inflation plus the rising copper prices has deemed it useless and worth more in its weight in copper.

Answer 4

If something cost 76 cents, I need 3 quarters and a penny to buy it.  If I give the business a dollar, they need two dimes and 4 pennies for my change.   Remember, these prices are determined by supply and demand, so anything, like getting rid of the  penny, would prelude the allocation of scarce resources.  The penny will be necessarily for a long time, maybe always.