I tend to agree that any effort this country makes in saving
money is probably a good thing. Discontinuing the production
of pennies might also have the long term effect of increasing their
value one day, just like the two dollar bill.
(I personally think that cash, in general, will one day become
I really hope you are wrong about cash becoming obsolete, but
absolutely hope it doesn't. I think much of our nation's
financial mess is due to the fact that people, and the government,
don't see finances as "real" money. Many studies have been
done that show people spend less money than when they use
cash. I ran an ebay business for a while, and credit card
users spent more money that people who paid with cashiers checks
every time. There is something about paying real money, or
even taking the time to write out a check that makes spending the
money seem more real.