Time has come to move to the 21st century and forget about the penny. Since 1857, the penny has been the lowest-denomination in the country and it has come a time when it does not make any economic sense to keep the penny. In simple terms, the penny is no longer useful to the economy as its value has eaten away by the inflation leaving it useless to the economy. Penny have become worthless to a point that people usually leave it to a point that they leave it in the counter and no one picks it on the street. When people leave a penny on the counter, it means that it too small to be useful to them again. In economic sense, there is not need to have the penny in circulation again. The penny should be abolished because it no longer has monetary value in the current economic situation.