Q. After 232 years, the penny was retired in November; at three cents apiece, it became too expensive to mint. The nickel, costing over a dime to produce, could be next. So, a penny for your thoughts: With 86 percent of all US transactions now cashless, do coins still make sense?

A. Personally, I would have kept the penny by switching to cheaper materials like aluminum or steel. While there were concerns that changing metals would alter the weight or magnetism, those technical issues shouldn’t have mattered because, for example, pennies are often not accepted in vending machines or parking meters.

While it’s true that the penny cost three cents to mint and the nickel is now “underwater,” I believe the government should view currency creation holistically. The government makes nearly $100 in profit on every $100 bill issued, and that revenue easily covers the small losses incurred by minting pennies and nickels.

The nickel could potentially be saved by transitioning it to a pure zinc coin to reduce the metal content cost. Despite this possibility, the current push to cut government spending suggests the nickel is likely next to fall. If that happens, we could essentially move to a single-decimal cash system where cash transactions round to the nearest dime. My cynicism leads me to worry that businesses might round prices up in this scenario, although recent evidence suggests that many are currently rounding honestly.

Even though there’s been a global shift toward digital currency, cash still makes sense because it provides essential inclusivity. In the US, low-income households often rely on cash because they lack access to banking, and civil libertarians appreciate the anonymity it offers for small transactions. Cash will naturally die out over time but removing it too quickly will leave people behind.