Wednesday, June 02, 2004
* Humor / Economics

It's a rare day that I agree with Bill Safire, but I do agree with his proposal to Abolish the Penny. Did you know that the U.S. Mint churns out a billion pennies a month?
Where do they go? Two-thirds of them immediately drop out of circulation, into piggy banks or — as The Times's John Tierney noted five years ago — behind chair cushions or at the back of sock drawers next to your old tin-foil ball. Quarters and dimes circulate; pennies disappear because they are literally more trouble than they are worth.
Pennies are a waste of time and money.
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