you remember back in the 80s, when computers just came in, how bank employees made fortunes transferring all the fractions of rounded off cents, into their own accounts?
well if you get rid of the penny, retailers are gonna make 5 times that much money.
besides money is going digital. few people use paper/coins anymore anyway. and a debit card doesn't need to round off to nearest nickel.
you guys should get with the program and make your low-denomination bills into coins BTW. like the civilized world does.