A penny earned is a penny saved – this is what our parents used to say. With inflation, rising food and oil prices, and hotter and drier weather trends, this strategy won’t make much of a difference. So, should other countries kill their pennies as well? Some people worry that prices will increase, with manufacturers and retailers rounding up. Not really. If you are doing your shopping at 5 different stores a day, you will pay $1.50 more a month. OK, but your sister and aunt are called Penny. They may lose self-esteem now that the coin is gone. The good news is that they can keep their penny collections. There are other anti-penny arguments. Coins waste time and money because they are expensive to mint. This is taxpayer money, i.e. yours. If you are worried that much, move to the U.S. But they may scrap the cent as well.
Infographic courtesy of Deana Deciccio
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