Should we eliminate the penny?

[JSchnett]

we should have eliminated all change a long time ago, at least the penny through dime.

[kyotolaw]

In New Zealand, we junked the 1 and 2 cent coins about 10 years ago.

Supermarkets et al still charge whatever they like - 99c, 96c etc. Total is added up and rounded at the till. So you lose at most 2c, but have the chance to make 2c on the trade too.

10 years of inflation later, we are now getting rid of the 5c coin next week.

The process is simple, no-one feels gipped.

FWIW, we changed the $1 and $2 notes into coins 10 yrs ago. There was a discussion to make the $5 into a coin also this time, but it was turned down.

1NZ$ = 60c US. The purchasing power is similar though ie $1 buys you the same in NZ as in the US. Starbucks still expensive though.