Editing Penny (section)

==Criticism of continued use==
{{see also|Withdrawal of low-denomination coins}}
Handling and counting penny coins entail [[transaction costs]] that may be higher than a penny. It has been claimed that, for [[micropayment]]s, the mental arithmetic costs more than the penny. Changes in the market prices of metals, combined with currency inflation, have caused the metal value of penny coins to exceed their face value.<ref>{{citation|work=[[The New York Times]]|url=https://www.nytimes.com/1981/04/01/us/around-the-nation-treasurer-says-zinc-penny-may-save-50-million-a-year.html|title=Around the Nation; Treasurer Says Zinc Penny May Save $50 Million a Year|date=1 April 1981|access-date=2009-05-07|archive-url=https://web.archive.org/web/20120411172439/http://www.nytimes.com/1981/04/01/us/around-the-nation-treasurer-says-zinc-penny-may-save-50-million-a-year.html|archive-date=11 April 2012|url-status=live}}</ref><ref>{{citation|publisher=[[USA Today]]|first=Barbara|last=Hagenbaugh|url=https://www.usatoday.com/money/2006-05-09-penny-usat_x.htm|title=Coins cost more to make than face value|date=10 May 2006|access-date=2009-05-07|archive-url=https://web.archive.org/web/20090307031235/http://www.usatoday.com/money/2006-05-09-penny-usat_x.htm|archive-date=7 March 2009|url-status=live}}</ref>

Canada adopted 5¢ as its lowest denomination in 2012.<ref>{{citation|contribution-url=https://www.thestar.com/news/canada/politics/article/1153779--federal-budget-2012-pennies-to-be-withdrawn-from-circulation|location=Toronto|first=Joanna|url=https://www.thestar.com|title=The Star|last=Smith|contribution=Federal Budget 2012: Pennies to Be Withdrawn from Circulation|date=30 March 2012|access-date=8 September 2017|archive-url=https://web.archive.org/web/20161006234524/https://www.thestar.com/|archive-date=6 October 2016|url-status=live}}</ref> Several nations have stopped minting equivalent value coins, and efforts have been made to end the routine use of pennies in several countries.<ref>{{cite news|last=Lewis|first=Mark|title=Ban The Penny|date=5 July 2002|url=https://www.forbes.com/2002/07/05/0705penny.html|access-date=2009-05-07|work=Forbes|archive-url=https://web.archive.org/web/20090522061151/http://www.forbes.com/2002/07/05/0705penny.html|archive-date=22 May 2009|url-status=live}}</ref> In the UK, since 1992, one- and two-penny coins have been made from copper-plated steel (making them magnetic) instead of bronze.

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