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End of an Era: U.S. Penny Faces Possible Retirement

The U.S. Mint is considering discontinuing the penny, citing its rising production costs and declining use in everyday transactions.

Each penny now costs over 3 cents to produce, leading to significant losses for taxpayers.

While some critics argue that eliminating the penny could lead to subtle price hikes, proponents highlight that countries like Canada and Australia have already phased out their lowest-denomination coins without major issues.

The debate encapsulates broader concerns about monetary efficiency and the evolution of physical currency in a digital age.

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