What happens [when] the penny gets phased out?
Spectrum News: Mark Schweitzer, associate professor of economics at Weatherhead School of Management, said that eliminating the penny makes financial sense, as it costs $0.03 to produce each one. While the U.S. would save money, increased reliance on nickels would offset much of the gain. Consumer impact would be minimal, he said, with rounding balancing out. Inflation effects would be negligible.
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