It’s no surprise that America is once again behind the curve on a good idea. What is surprising is that Canada is the one doing something right. I kid, I kid. Canada is stopping production of its penny, and effectively eliminating its existence as circulated tender in the Great White North. The US is in the same situation but refuses to buckle to economic common sense when it comes to the common cent.
Why?
There are many opinions on this, but at the end of the day it comes down to eliminating a coin with Lincoln’s face on it. The states of Illinois and Kentucky would (and have) vehemently oppose any such attempt by Congress or the President to eliminate a coin with a state hero on its face. Also, no presidential candidate will make this part of his/her platform because of the electoral college vote from Illinois is too important to candidates. Though since Illinois is a blue state, a republican candidate may give it a whirl.
Who knows? Maybe common sense will win the day when it comes to common cents. However, it’s not likely.