A Modern Currency Does Not Include Pennies

by Ben Carter

I've been meaning to write about how preposterous it is that we still use pennies in 2012 and how we should really, really consider updating our money so that we are not spending more money to produce money than that money is actually worth (2.4 cents of materials versus 1 cent in value). 

But, Matt Yglesias and Marco Arment have done it recently and done it well. And, frankly, I don't have anything else to add except that I think abolishing the penny would happen a lot faster if more people threw pennies at their congressperson. Or mailed them a bunch of pennies. Individually. 

I don't understand what the hold-up is. This appears to be an obvious case of government waste and both parties have campaigned hard on eliminating "waste, fraud, and abuse."