The debate over abolishing the penny centers on its long history and evolving economic relevance. The U.S. penny was first introduced in 1793, modeled after European copper coins, and has remained the nation’s lowest denomination ever since. For much of its history, it held tangible purchasing power—worth roughly the equivalent of a dollar in today’s terms during the 1800s. However, over time, inflation steadily eroded its value, and by the late 20th century, it cost more to produce a penny than its face value. The U.S. Mint has repeatedly reviewed its composition, shifting from nearly pure copper to primarily zinc with a thin copper coating since 1982. Despite these changes, rising metal and manufacturing costs have persisted, sparking ongoing discussions in Congress and among economists about efficiency and environmental impact. Countries such as Canada, Australia, and New Zealand have already phased out their smallest coins, rounding transactions to the nearest five cents. In the U.S., the penny remains culturally symbolic—featuring Abraham Lincoln since 1909—and plays a ceremonial role in charity drives and everyday expressions like “a penny for your thoughts.” Its existence today represents a tension between tradition, practicality, and the changing nature of money in an increasingly digital economy.