A local Dunkin’ Donuts decision to stop accepting pennies has been making the rounds. While I don’t expect a national movement, it does bring up the question. Why on earth do we still have pennies? They cost more to produce than they are worth. For many people, the opportunity cost of picking one up is greater than the value of the penny itself.
Can it really just be the zinc lobby? Would Americans actually be devastated to see the penny go?
At the very least, its a good excuse to post this article from the New Yorker on the topic. Thought it was great.