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Originally Posted by xepherys
Surely you jest...
The paper dollar does not cost more than US$1 to print. The problem with the penny is that it costs more than 1 cent to put a 1 cent piece into circulation. That has no bearing on your issue. In fact, printing $1 bills is cheaper than minting $1 coins. Coins are also not really less likely to be counterfeit, though $1 bills are not worth the time and effort for most criminals either. If they made $100 coins, people would make fake ones with ease. Even if they shoved RFIDs into them, that's easy to counterfeit.
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It may be cheaper to print a $1 bill that stamping a coin, but a coin last for many years and bill only for a few months, so coins are much cheaper in the long run.
Get rid of the penny, it's not that big of a deal.