"Man, I feel good about the penny!" Federline said as he got out of a red truck in Times Square, ABC reported.
There is no immediate danger to the penny, said Matthew Eggers, policy director of Americans for Common Cents, but there is a commonly held notion that the penny wastes consumers' and retailers' time and money.
Rep. Jim Kolbe, R-Ariz., introduced a bill in 2001 to eliminate the penny.
Eggars argues that eliminating pennies would hurt poor people and charities that depend on small donations. Surveys also show two-thirds of Americans still like pennies. The zinc industry is very involved in promoting the penny, which is 97 percent zinc. Coin collectors are also concerned.
Federline became a penny activist when he received a text message from Virgin Mobile. The company introduced its new 1-cent text messaging offer Wednesday.