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I agree with PatB-- cash transaction will become a thing of the past. There are already many business that do not accept cash, secondly it takes more time to process a cash transaction.
Personally, I am in favor of this, the penny should be the first to go (should have years ago). Every time my tray on the dresser gets full of pennies, I stick them in a bag and put them in the "need a penny" jar at a retailers.Moving off topic a bit, I have almost every bill, obligation electronically deducted from checking account or American Express. I never carry cash or check- no need.
personally I think we are moving toward a cashless society. I use a debit card for most purchases. I carry some cash but no coins. I,like a lot of people,have a bog jar that I put my loose change into for the future. If the government stops minting pennies there will still be millions of them out there.Patrick Barnes
I am in favor of the move and think it should have been done as soon as the cost of producing a penny exceeded the value. Continuing to produce them is just one more example of the government throwing the taxpayers' money away.