Easily the most sensible thing he's done. Lots of countries have done away with low value coins, and it's not like they're vital for payment. Nothing costs mere cents anymore.
I also wasn't aware that the constitution specified that pennies need to exist. I can totally understand if getting rid of pennies takes a bit more work than an edict by a president, but then that needs to be done. It's still a sensible thing to do.
