Posted by: Scott | Sunday, July 9, 2006

What will Chris Anderson do with his 2¢?

EverythingCody.com tipped me off to this article in a recent USA Today:

We collect them in dusty jars, lose them under couch cushions and ignore them on the ground as we rush by.

Once considered a good luck charm, the penny for many has become more of a copper-colored nuisance that has outlived its usefulness.

Although the majority of Americans want to keep the penny in circulation, support for elimination of the 1-cent coin is building. Fueling the momentum: For the first time in history, it costs more than a penny to manufacture a penny, thanks to soaring metals prices. …

All cash transactions would be rounded to the nearest nickel, according to legislation that will soon be introduced by Rep. Jim Kolbe, R-Ariz. That would effectively eliminate the need to produce the penny. …

This begs the question: What will Chris Anderson do with his two cents? Will he have to start giving us a nickel’s worth of his thoughts? However, not all hope is lost:

Some lawmakers, including those from zinc-producing states, have traditionally backed the penny. And the Illinois delegation has supported keeping the penny, which features the face of Abraham Lincoln, who was born in Kentucky but lived in Illinois for much of his adult life.

One issue that may complicate efforts to eliminate the penny: The 200th anniversary of Lincoln’s birth is in 2009. In December, President Bush signed legislation ordering the Mint to produce four new pennies in 2009 that will commemorate Lincoln’s life.

The article mentions charity organizations that raise funds through penny donations. My church uses the penny offering system for VBS. What think you? Keep the penny or save it – – – I mean keep the penny or scrap it?

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