Should we get rid of the Penny?

For the past few years, there has been the debate of whether or not the Federal Reserve should continue to produce pennies. It costs $1.39 to produce 100 pennies. This means we are losing money on the production of pennies, while it is extremely profitable to make other currencies such as paper money and quarters and dimes. People are arguing that it would increase all sales taxes by one penny but does it really matter? Economists say that this increase would be insignificant in a human's lifespan. Lastly, people use the argument that it would be wavering from American tradition. This brings up an efficiency question. Why would we continue to invest in a money losing business when we could put our resources to better use. This is why people at times are irrational and dislike change even though this change would save the U.S. on average 39 million dollars a year.
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