Get rid of the penny?
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I think we should have two coins. A 25 cent coin and a 1 dollar coin. Paper bills would start at 2 dollars, then 5 dollars and go from there in current denominations. We have to have cash. There are too many scenarios where cash is the correct solution. There is however, no scenario I can think of, where the handyman, landscaper, car detailer or anyone else who prefers cash is going to request payment in anything other than even dollar amounts. The 25 cent coin and dollar coin would exist for small purchases such as candy or sodas. Personally, I never carry cash. I use plastic for everything. I live next door to a high volume convenience store and stop in there frequently. I can't remember the last time I saw anyone pay cash for anything other than gasoline and that's always in increments of 1 dollar or more. I'm not sure there's even any candy available that isn't packaged and priced at a dollar or more. We still need cash but at the sub one dollar level, I don't think we need so many fine increments. As far as rounding and tax collection, that can all be worked out.
I think we should just use 1/2 inch galvanized electric box punch outs to replace the penny. Electricians and home DYIers can be kind of the Bitcoin miners of this change over, even though the government will be punching these out by the millions. Doing this, this will bring it into reality faster and we can get back to business and have a cheap and fast transition to penny replacement.
