The penny paradox.

“A paradox is merely truth standing on its head to attract attention.” ~ Richard Le Gallienne

In the heart of America’s financial system, a peculiar paradox persists—the pointless penny. We’re spending more than 3 cents to produce each 1-cent coin—more than 8 billion in 2022—and we’ve flooded the country with 240 billion of these circular cents of nonsense, most of which sit idle in jars or between couch cushions.

The penny is a colossal waste, yet so deeply embedded in our culture through habituation that we’ve convinced ourselves we “have to” keep making it. It’s simply not true. Instead, we “want to”—to avoid the discomfort of change and preserve the illusion of responsibility—while hemorrhaging millions on a coin that’s essentially worthless.

Canada got rid of its penny and the world didn’t end. Their economy didn’t suffer, and consumers quickly adapted to the new system of rounding cash transactions to the nearest nickel. But we keep dancing around the problem. And here’s the kicker: we don’t even need the machinations of Congress to end this absurdity. The Treasury Secretary could end penny production right now.

Like most traditions, the penny’s persistence isn’t rooted in necessity but in comfort. We cling to these little copper relics, much like we cling to the familiar face of Lincoln, weaving stories that justify their continued circulation. It’s not about their value, but about the familiar. The timeworn adage “A penny saved is a penny earned” is a comforting lie.

The penny paradox isn’t really about coins. It’s about us. It’s about our tendency to cling to the familiar, even when it no longer serves us. Just like the penny, our lives are full of habits, beliefs, and routines we say we “have to” continue. Why? Because they’re complicated. Because they’re what we’ve always known. Because changing feels too uncertain and uncomfortable.

But our “have to’s” are really “want to’s” in disguise. “I have to stay in this career.” Do you? Or do you want to avoid the uncertainty and discomfort of change? “I have to keep this relationship.” Really? Or are you holding onto it because the alternative feels scarier? “I have to stick to the same business model.” Is that right? Or is it just easier than exploring new strategies and innovations?

Like the penny, these “have to’s” often cost more than they’re worth. The truth is, what we think we “have to” do is really a “want to”—a desire to avoid the discomfort of change. But, just like with the penny, we can evolve beyond them. The world won’t stop spinning. We might even find ourselves feeling lighter, freer, more alive.

So, the next time you say, “I have to,” pause and question it. Identify one “penny” in your life—one small habit or belief you’re holding onto unnecessarily. Just as the Treasury Secretary has the power to end penny production, you have the power to stop these self-imposed “have to’s.” You don’t need anyone’s permission. You can round up to the nearest nickel of your potential and let go of the copper coins of your conditioned mind.

The sky won’t fall. Your life won’t grind to a halt. You’ll simply adapt—and maybe even thrive. But don’t mistake this for an easy path. Growth means suffering through the temporary discomfort of letting go. This isn’t about abandoning responsibility. It’s about honestly examining the stories you tell yourself and recognizing that your “have to’s” are really just comforting delusions.

Maybe “a penny saved is a penny earned” was never entirely true, especially when it comes to our habits and beliefs. After all, clinging to what no longer serves us can be more costly than we realize. Maybe it’s a penny wasted—holding onto outdated ideas or practices that drain our energy and potential. And maybe letting go of what no longer serves us—whether it’s an obsolete coin or a limiting belief—isn’t just the greatest wealth we can gain, but also the most liberating step toward new possibilities.

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