text: 1.2 million are tossed- but everyone I know saves them in a jar, and once a year, they put it toward their vacation! It is not alot but is adds up! If you don't want them for yourself, give them to a charity or something- there are a million causes that would not care if they got pennies. Who are we that we can toss pennies away- giive to someone who needs it!\n\nanother tidbit of info for you:\n\nFrom the following website: WWW.TREASURY.GOV--\n\nAre there any plans to remove the one-cent coin (more popularly known as the "penny”) from circulation?\n\n You may be interested to know that the penny is the most widely used denomination currently in circulation and it remains profitable to make. Significantly, it is Congress that determines the denominations of coins that the Mint must produce and put into circulation. Each penny costs .81 of a cent to make, but the United States Mint collects one cent for it. The profit goes to help fund the operation of the United States Mint and to help pay the public debt. In 2000, this profit added up to about $24 million. As the United States Mint produces the coins that Congress mandates, it does not have the authority to abolish a unit of currency. If directed to do so by legislation enacted by the Congress and signed by the President, the Treasury Department would again study phasing out the penny. Because the demand exists and the Federal Reserve Banks require inventories to meet the demand, the United States Mint is committed to producing the penny.