1. Retiring the Penny

2. Final Destination for Penny
There they are!
↓↓

3. Retiring the Penny … Why?

4. Retiring the Penny … Why?
 Using pennies is a waste of time

5. Retiring the Penny … Why?
 Using pennies is a waste of time
 Producing pennies is a waste of money

6. Would rounding prices to the nearest
nickel cost consumers extra money?

7. Would rounding prices to the nearest
nickel cost consumers extra money?
Agree
Undecided
Disagree

8. How do we eliminate the penny?
 Legislation
 Round off every cash transaction to the nearest
nickel

9. Notable legislations
 Currency Overhaul for an Industrious Nation
(COIN) Act in 2006: round prices and taxes to the
nearest nickel

10. Notable legislations
 Currency Overhaul for an Industrious Nation
(COIN) Act in 2006: round prices and taxes to the
nearest nickel (defeated)

11. Notable legislations
 Currency Overhaul for an Industrious Nation
(COIN) Act in 2006: round prices and taxes to the
nearest nickel (defeated)
 Coin Modernization, Oversight, and Continuity Act
in 2010: study the compositions of coins (passed)

12. Notable legislations
 Currency Overhaul for an Industrious Nation
(COIN) Act in 2006: round prices and taxes to the
nearest nickel (defeated)
 Coin Modernization, Oversight, and Continuity Act
in 2010: study the compositions of coins (passed)
 President Obama: call for a change in the mix of
metals in pennies and nickels in February 2012 (in
progress)

13. Australia
 Cost of minting > face value
 Retired in 1992
1 cent
2 cents
The Royal Australian Mint, n.d.

14. Singapore
1 cent
 Only 6% was circulated
 Retired in 2002
obverse
reverse
The Singapore Mint, 2010.

15. United States
Half penny
 Lack of demand
 Absence of a reliable
obverse copper supply
 Retired in 1857
reverse
United States Mint, 1999.