There have been a growing number of calls to phase out the smallest denomination coins. The single penny is almost useless for purchasing items by itself. It would be simpler if prices were rounded to the nearest five pence and this would reduce the amount of small change carried around. But this view does not take into consideration that this will inevitably lead to price increases. Very few people would be concerned about paying £1 instead of 99 pence, but it is not the consumer who benefits from the 1% price increase. A single penny may not be worth much, but those who save them do eventually have enough to purchase something useful. There are many charities that also benefit from these small coins as donations.