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The Penny's Downfall
- The US Mint loses $69 million annually producing pennies, which cost 1.82 cents each to make.
- Pennies are impractical for daily transactions and accumulate in jars or get discarded.
Political Inertia
- The penny's persistence reflects a broader political failure to address simple issues.
- Political discourse prioritizes divisive topics over practical, non-partisan improvements.
Historical Precedent
- Even amidst the pre-Civil War tensions of 1857, Congress eliminated the halfpenny for being too small.
- This historical example contrasts with today's inability to eliminate the similarly impractical penny.