Abolish the penny?

Then what shall we pay for a thought?

This will only begin a never ending cycle. Abolish the penny, and the nickel becomes the least valuable coin. Eventually, the cost to produce nickes will exceed their worth. The same will occur with the dime, and so on.

How will you give change then? Every price will have to be rounded to the nearest 5 cents, and I can guarantee you they will always round up. The stores will round up on everything you buy, and then the sales tax will come out a certain percentage but it too will have to be rounded up. Think about the supply chain too-- everyone along the way rounds up their price, and you'll end up paying 20-30 cents more for everything you pay. Not much, but add it up over every single purchase you make.

No. Because without one penny, ninety-nine cents cannot make a dollar. Beside business will need to have their price fixing changed from $xxx.99 to @xxx.00.

I am all for it!!!

I often refuse to take back pennies in change.

SOOOOOOO totally in agreeance with you. Although to abolish it may mean higher taxes to compensate (good ol' government acting in their best interests again...)