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If they stopped minting pennies (or cents as most call them), do you think they would be hoarded out of circulation?
That is part of it, but the major force removing them from circulation is their disposable nature. Use once, toss aside (and that often means into the trash). If they stopped minting pennies (or cents as most call them), do you think they would be hoarded out of circulation?
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With only the four different denominations commonly being used in commerce in the US at the moment getting rid of the cent will leave only the 5c, 10c and 25c coins because the 50c and Dollar coins seldom get used.
If the one dollar note is nixed, the dollar coins will automatically circulate. They are only NIFC by default. Large scale production should resume once the dollar note is removed and the billions of dollar coins on-hand are distributed.With only the four different denominations commonly being used in commerce in the US at the moment getting rid of the cent will leave only the 5c, 10c and 25c coins because the 50c and Dollar coins seldom get used.
























