IIRC, Canada had at least some period of time where while change provided was rounded to the nearest nickel, the penny was still legal tender. (Prices / totals were not rounded; non-cache payments were still denominated / accurate to the penny.)

And, yes, it would be better to get congress and the executive together and have an actual plan for discontinuing the penny and the nickel (and maybe the dime or quarter?). I think on this issue, the executive acting alone is better than doing nothing / maintaining the status quo.