The point of Alan S. Blinder’s essay is that using pennies wastes time and money.
He declares himself antipennies, and states he has been so for years. The sucess of this coin took place long ago, even some years before it was possible to buy some products with one penny, such as a lollipop or a pencil. Nowadays, pennies bother everyone when trying to find some amount in the purse, or when receiving change. They only add weight in the pocket, but their value is minimal.
He also appoints how time is lost when, for example, you are in a line waiting to pay and the person in front of you tries to gather all the pennies in his wallet to conform the necessary amount to be able to pay something with it. Multiply this time for all the times this may happen in transactions in the economy. Also the time lost by authorities which have to take care of the supply of pennies and of the 91 billion units in circulation.
