Penny wise and pound foolish


The reported annual savings for taxpayers from the government’s stopping production of the penny: $56 million.

The annual cost to consumers of rounding up every transaction to the nickel is a bit harder to guage, but since there are, what, maybe 250 million people spending money in America and each of them does it an average of 46 times a month… that looks to me like it’s in the billions.

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