The American penny, which costs nearly four cents to mint, will be discontinued due to its production cost exceeding its value.
Despite its discontinuation, the penny will remain legal tender, causing challenges for retailers who may round prices to the nearest nickel.
The removal of the penny from circulation has led to unexpected problems for businesses and consumers, with some retailers facing legal issues for rounding prices.
The decision to phase out the penny in the United States lacks a clear plan for retailers, unlike other countries that have removed low denomination coins.
The end of penny production has prompted calls for legislation to address the challenges posed by rounding prices and ensuring fair treatment for consumers, particularly those using federal food assistance programs.
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