Devaluation, dear boy. There was a time when one silver penny would have bought the whole of Norway, but back then Cnut was King so we owned it anyway.
Ahem.
No, it makes a certain amount of sense - in developed countries overall we should all either agree to lop a zero off or started minting coins in larger denominations.
Having said that, if you want to take my copper (copper plated steel) pennies you will have to pry them from my cold, dead, Saxon hands.
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