So... What's Happening?

From this little kerfuffle between the leading penny groups, it seems that we have a winner. Americans may not be ready for the fall of the penny, but the time has come to give up the little copper coin. President Obama spoke about discontinuing the penny in a press conference and I believe its only a matter of time.

In my opinion, the main reason Americans want to keep the penny is because it's all we know, and we are scared to see it go. We may not all understand the whole rounding solution, and no matter how many times its explained, theres an age group that will always be against moving forward and dropping the coin.

If the government comes up with a plan and sticks to it, nobody is going to like it at first. Well, this isn't entirely true, according to the polls taken by Coinstar, only 67% will. But as time progresses and the penny phases out, it will become apparent how much faster the transaction process will become and how banks and Federal vaults can streamline their current systems.

(source: http://www.budget.gc.ca...)