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Should the penny be retired? It's been our smallest-denomination coin for 150 years. But if people are leaving pennies at the cash register, is it time to get rid of them?

Publication: New York Times Upfront
Publication Date: 07-MAY-07 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Should the penny be retired? It's been our smallest-denomination coin for 150 years. But if people are leaving pennies at the cash register, is it time to get rid of them?(DEBATE)

Article Excerpt
YES

Inflation has so eaten away at the value of the penny that it is no longer useful: It is simply a nuisance.

The penny has been our lowest-denomination coin since 1857, when the halfpenny was retired. (At the time it was retired, the halfpenny was worth more than the equivalent of a dime today.)

Pennies are now worth so little that people often don't pick them up off the street, despite the lucky-penny adage. As Harvard professor of economics Gregory Mankiw points...

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