Penny Costs More to Produce than its Value

By Justine Moore. Stanford University. 

Imagine that the penny no longer exists. The nickel is the lowest denomination coin, and most sellers round up prices to whole dollar values instead of saving consumers an additional cent by offering goods at prices like $19.99.

This imagined scenario recently became reality in Canada, and soon may become true for the United States, as well.

Read the full paper here.