Nickels cost 7.29 cents to make, (2.29 cents over face value, as opposed to 0.99 cents over face value to make a penny,) so making each nickel costs 1.3 cents more than making each penny. Nickels cost even more to make. If we eliminate the penny, we will need more nickel coins in circulation.People think nothing of pouring out their old penny jars to support these drives, but they won't part with nickels so easily. Charities need pennies. Many small charities depend on penny drives to bring in donations.The poor pay the most. A corollary to the above argument says that the poor will be affected the most because the poor are most likely to make more frequent, smaller purchases, thus suffering the rounding up more often. They will probably round everything up in their favor, costing us more for everything we buy. Prices will increase. If the U.S eliminates the penny, merchants will round the amount up to the nearest five cents.
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