Should the US Mint retire the Penny?

Not Even One Red Cent

Alko Office Supply in downtown Berkeley is an average-looking store, with one exception. Hanging above the cash register, a sign reads: "We are a penny free store."

Cashier Andrew Allen says that with so many people using credit and debit cards, he only has to explain the no-penny rule about once a day.


EnlargeAndrew Stelzer/NPR
ALKO Office Supply cashier Andrew Allen says most customers laugh at the penny-free policy.
I purchased a 2010 planner. Total: $15.53. Allen asked for $15.50. I proffered $15.53, pennies and all, and Allen didn't accept the superfluous cents.

"I won't take them," Allen said. "I refuse to take them."

But Is It Legal?

While all U.S. currency is legal tender for paying debts, public charges, taxes and dues, the Treasury Department says private business can decide, as a matter of policy, whether to accept currency as payment, and if so, in which denominations. About a year ago, Gary Shows, the owner of Alko Office Supply, felt pennies were no longer worth the hassle for customers and cashiers.
...
[S]ince 2006, producing a penny has cost more than one cent due to the rising price of zinc....

Pennies By The Numbers
2.5: Weight of one penny, in grams.
0.75: Diameter in inches of one penny.
1.55: A penny’s thickness, in millimeters.
7,401,200,000: One cent coins produced for circulation by the U.S. Mint in 2007.
5,419,200,000: Pennies produced for circulation by the U.S. Mint in 2008.
2,292,400,000: One cent coins produced for circulation by the U.S. Mint, January-October 2009.
2.5: Percentage of a penny that is copper.
97.5: Percentage of a penny that is zinc.
1793: Year the U.S. Mint began producing one cent coins.
2: Number of U.S. Mint facilities that manufacture coins for circulation. They are located in Denver and Philadelphia.
25: Life span of the average coin, in years.

Source: U.S. Mint
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