>>15208yes
>>15207this has been suggested for about two decades. guess it only took an executive order to do? but without a penny, that would mean items should only be priced no less than in terms of nickels... for example, $1.00, $1.05, $1.10, $1.15, etc.
But according to
https://www.officialdata.org/us/inflation/1776?amount=0.01, "$0.01 in 1776 is equivalent in purchasing power to about $0.36 today, an increase of $0.35 over 249 years. The dollar had an average inflation rate of 1.45% per year between 1776 and today, producing a cumulative price increase of 3,527.64%."
So, a more moderate position would be to stop minting nickels and dimes, as well. With quarters, however, being worth less than they used to be, I would also consider stopping minting them, as well (and perhaps bringing back the 50-cent piece into regular circulation).
A new coin that changes value, such as an inflation-adjusted penny could be minted and set to an initial value of 36 cents. Or, a regular 36-cent coin could be produced as the lowest denomination coin and a new inflation-adjusted lowest denomination coin could be minted every year at a higher value to help citizens keep track of inflation in an easy-to-understand way. (Other coins and bills would not be inflation-adjusted - just the new penny)
