A penny for your thoughts

Is a phrase that probably dates from a time when a penny was worth a lot more than it is now. Nowadays, the metal used to make a penny is actually worth more than one cent (this known as negative seigniorage) and the actual value of one cent is so low that,

"[b]reaking stride to pick up a penny, if it takes more than 6.15 seconds, pays less than the federal minimum wage."

These are just a few of many factlets to be found in this essay by David Owen (the David Owen? No, a David Owen), which makes a compelling case for the end of small change.

- Mr. Ed