First, eliminate the penny. Round every purchase to the nearest nickel.
So, my 400+ in small change I have laying round could actually be worth more dead than alive??
I recall when they killed off the silver certificates. Why have anything behind your script.
Get rid of the nickel, too, and eliminate the decimal place for cents. Because of inflation, i.e. debasement, a penny in 1913 would actually be worth 30ยข today.
In the mid 70’s that was done in all the military commissaries and exchanges in Europe. It was simply too expensive to transport all those pennies overseas. Didn’t make all that great of an impact. They should also get rid of the dollar coin, .50 coin, and the $2.00 bill.
Already happened in Canada. Also the one and two dollar banknotes are gone as well. Those are now coins not notes. The cent was eliminated for the exact reason that it cost more to make than the supposed face value.