Why do we have the penny? | CNBC Explains

Ever wondered whether there’s a point to having small change? You’re not alone. The U.K. and U.S. continue to mint pennies but some countries like Canada have scrapped them all together. So should we get rid of the smallest value coins in circulation? CNBC’s Tom Chitty explains. ----- Subscribe to us on YouTube: Subscribe to CNBC Life on YouTube: Like our Facebook page: Follow us on Instagram: