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Penny is Worth Less Than Any Other Currency

News Flash: The Treasury Secretary Hates Pennies, Too

When asked on Friday about his opinion on the penny, Treasury Secretary Henry Paulson implied that it would make sense to eliminate the penny when he said, "The penny is worth less than any other currency." That is, if it were viable politically — he added that he doesn't intend on taking any action against the penny this year.
While there hasn't been serious talk of the penny's ultimate fate, last year there was a proposal introduced in Congress to change the metal content of all U.S. coins in order to save a dime. Officials said that taxpayers could save up to $100 million annually if the metal content in just the penny and the nickel were altered. I've never been one to shun the penny — I think it has something to do with its lucky-heads-up reputation — but there are plenty of people other than the Treasury Secretary who find the penny to be an annoyance.


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