Letters to the Editor: Killing the penny is the right move, but it doesn’t go far enough

To the editor: As a banker, I have been waiting for years for the government to stop making pennies (“U.S. Mint moves forward with plans to kill the penny,” May 22). But the true issue is that our money ain’t worth what it used to be, so we need a new plan that truly reflects the devaluation of the dollar.

Keep the penny, but name it the nickel, as pennies cost 4 cents to manufacture. Make the nickel the dime and make it smaller, since the nickel costs 14 cents to manufacture. Change the dime into the quarter, the quarter into 50 cents and eliminate the paper dollar, also a money loser. Keep the dollar coin. Its long lifespan (estimated at 30 years) compared with the dollar bill (6.6 years) makes it a more cost-effective option. Start paper money with the two-dollar bill if needed or just move on to the $5 bill.

President Trump can thank me for this brilliant plan.

George Kahn, Culver City