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Canada just killed the penny. Should the US do the same?

Citing the cost of producing the ubiquitous coins, Canada today moved to end production and ultimately retire the penny -- despite the estimated 6 billion in circulation. Do you think the U.S. should follow suit and drop the 1 cent coin as well?

 

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.26% up 4.24%  
15 Y Fixed Graph 3.27% dw 3.31%  
30 Y Fixed Jumbo Graph 4.59% up 4.57%  
5/1 ARM Graph 3.45% dw 3.66%  
5/1 Jumbo ARM Graph 3.54% up 3.45%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.39% dw 4.47%  
$50K HELOC Graph 4.11% dw 4.17%  
$30K Loan Graph 4.99% dw 5.11%  
$50K Loan Graph 4.40% dw 4.56%  
$75K Loan Graph 4.40% dw 4.51%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.91% up 2.87%  
36 M Used Graph 3.44% up 3.35%  
48 M New Graph 3.19% up 3.14%  
48 M Used Graph 2.97% up 2.92%  
60 M New Graph 3.22% up 3.17%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.34% dw 0.35%  
1 yr Graph 0.67% -- 0.68%  
5 yr Graph 1.38% up 1.37%