The value of the U.S. penny has been dropping for years. In 2006, it began to cost more than a penny to make a penny. It now costs 2¢ to produce a 1¢ coin. Many countries have stopped using pennies. Canada, which has a currency similar to that of the U.S., will end penny circulation on February 4. Is it time for the U.S. to do the same? Watch TIME's Josh Sanburn explain the battle for the penny, above. Learn more about it in the February 8, 2013 issue of TIME FOR KIDS. (Video produced by TIME.COM)