TAGS: vending business, coin machine, coin-op business, U.S. Mint, penny critics, Salon, Cheeseboard Pizzeria, Mike's Bikes, Berkeley movement to ban the 1¢ coin, Google+ Hangout interview
BERKELEY, CA -- According to the U.S. Mint, it costs about 2¢ to make a 1¢ coin. Critics add that pennies are 97.5% zinc, which requires mining that damages the environment.
For these reasons and more, a growing number of California businesses are no longer accepting the penny, perhaps inspired by Canada's decision last year to stop minting its pennies. Salon, a political news site, reported that Cheeseboard Pizzeria and Mike's Bikes in Berkeley, CA, are the latest businesses to join the movement to ban the 1¢ coin
President Obama might support the penny's elimination, too. When asked about the issue during a Google+ Hangout interview, he said: "Anytime we're spending money on something people don't actually use, that's an example of things we should probably change."
There are between 140 billion and 200 billion pennies in circulation.