My Take: Penny Problems - WAFF-TV: News, Weather and Sports for Huntsville, AL

My Take: Penny Problems

A recent story on our Facebook page sparked a lot of debate over something most Americans give little thought to: the penny. A restaurant in New Jersey is receiving both praise and criticism for rounding customer bills up or down to the nearest nickel. Sometimes it's in the customer's favor, sometimes it isn't. Many people commented that it was a more convenient way to do business and prevented people from having to carry around coins that usually just end up forgotten in an old ashtray or desk drawer somewhere, while others were quick to quote the old adage, "a penny saved is a penny earned." But in this day and age when so much business is transacted electronically with debit cards and even cell phones, is the penny really necessary? And according to the US Mint, it actually costs two and a half cents to make each penny, so we're losing money every time one rolls off the coin press. Our system of currency has had no major overhauls-other than cosmetic-for decades. Maybe it's time to take a closer look. What do you think? Go to the My Take section of or our Facebook page and post your thoughts. I'm Vanessa Oubre and that's my take. What's yours?

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