According to Fox News: One cent could soon be history. The US House of Representatives has voted to permanently abolish the one-cent coin, taking the US one step further in ending production of this currency that has been in circulation for more than two centuries. Proponents believe that the cost of making a penny now exceeds its value, and the legislation also addresses the issue of how cash transactions are rounded off without a penny.

According to Fox News: One cent could soon be history. The US House of Representatives has voted to permanently abolish the one-cent coin, taking the US one step further in ending production of this currency that has been in circulation for more than two centuries. Proponents believe that the cost of making a penny now exceeds its value, and the legislation also addresses the issue of how cash transactions are rounded off without a penny.