Canada doesn't make cent$ anymore...

[ArchAngel'73]

http://news.nationalpost.com/2013/02...enny-last-day/

Cliffs
-Cdn. Govt. not making pennies anymore due to being cost ineffective
-monetary values will be rounded up or down



If you're a Canuck, do you like this idea?
or
Do you think your government should adopt the same policy with low value coinage?



The penny bares our Maple Leaf and as such shares a place in the hearts of Canadians.
but
Lettuce be real, the thing is next to useless and not even worth the caloric expenditure to pick one up from the ground.

I'm all for it, as long as in the end I'm not get ripped off by the rounding up/down.
I do kinda like having a pocket full of change and none of them copper things are in there though!

[Sen8or]

NZ did away with 1 & 2c coins 20-25 or so years ago, 5c coins went 10 or so years ago, smallest coin is now a 10c piece.

That being said, kiwis are amongst the highest EFTOPS/debit card users in the world (per capita), so physical currency is slowly being weeded out anyway.

1s & 2s, yeah, total waste of space
5c is a bit more, but as with 1s & 2s, youve to have a lot of them to actually be able to use them.

[highiso]

Inb4 FLEX.

[GuyJin]

In Japan, they have one-yen(en) coins, equivalent to maybe a penny. Plastic in nature. Very cheap-feeling things. However, when you pay for something and the numbers come up to, say, ￥５４３ then they're useful to have. I hate the feeling of them, though, and wish the gov't would also phase them out.

Oh, yes, in before any fellow Canucksters.

[FlaIronMind]

It costs the US Mint more to manufacture one cent/a penny than they are worth. If I recall correctly, it presently costs over two cents to make one cent.

Incidentally, it also costs the US Mint more to make a nickel than a nickel is worth (it costs just under .12 to make .05).

This is all academic though. The government, in terms of operating in a business sense, is an utter failure.

[paolo59]

I thought I read somewhere that the US was going to do away with pennies too

It's been proposed I believe. The damned things replicate. I throw them on the floorboard of my pickup. That way at least I'll know I'll never be 'completely broke!'

[Corbi]

I don't like carrying coins of any type, hate having crap in my front pockets. Go to Europe and for anything under $10 it's all freakin coins and you get weighed down with them. Love my debit card and I rarely have more than $2-3 dollars on me in actual cash.

[Whiskeyjack]

I donate our pennies to a local charity.

I stoop to pick the up based on the silly idea that to do so brings luck; it always does.

I like the way they look.

I know that rounding will always be up, never down.

[2nd_chance]

Won't all the old ones still be in circulation and therefore in use?

[Keltron]

Won't all the old ones still be in circulation and therefore in use?

Ah.. interesting point. I think they might have as many merchants as possible turn them in in exchange for higher denominations or electronic funds.. they could continue this until they're all out of circulation.

What are they gonna do w/all that copper is the next question...

Melt it down and make an Obama statue???

[LisaSkinnoble]

Won't all the old ones still be in circulation and therefore in use?

Yes, but merchants won't accept them. I think banks still will, or would until last Sunday. Cash transactions are rounded up or down, but electronic transactions remain to the nearest cent.

[pharmamarketer]

The U.S. was considering this. I hope they don't even think about it for a while. We have much bigger problems to solve ( or at least pretend to try) and I don't need to read about the useless politicians debating this issue for the next 6 months

[paolo59]

The U.S. was considering this. I hope they don't even think about it for a while. We have much bigger problems to solve ( or at least pretend to try) and I don't need to read about the useless politicians debating this issue for the next 6 months

LOL Back in the midst of the 'fiscal cliff' debates I amazingly watched politician after politician on C-Span offer up bills on who to name a freakin' post office after!

[dazlittle]

I don't like carrying coins of any type, hate having crap in my front pockets. Go to Europe and for anything under $10 it's all freakin coins and you get weighed down with them. Love my debit card and I rarely have more than $2-3 dollars on me in actual cash.

Here in the UK £5 is our smallest note below that is a £2 coin then £1 coin 50p, 20p, 10p, 5p, 2p and 1p

When I was younger we used to have £1 notes which was much better than carrying round a pocket full of coins.

If you go out for a night on the beer in the UK with say £70 in notes in your pocket by the time the end of the night comes round your pockets are bulging with useless coinage!!

I can quite easily do without 1s 2s 5s and 10s, when ever I get them in change they get stashed into a demijohn and get cashed in for notes when its fully.

[StressMonkey]

I would shed no tears if the same thing happened here. Pennies are nothing but an annoyance to me at this point. You can't even use them in a vending machine. Sometimes I'll put my change I'm due in a tip jar and sometimes I tell the cashier to not even bother giving me a few pennies. I consider myself fiscally responsible with my money but pennies are where there's an exception.

In Japan, they have one-yen(en) coins, equivalent to maybe a penny. Plastic in nature. Very cheap-feeling things. However, when you pay for something and the numbers come up to, say, ￥５４３ then they're useful to have. I hate the feeling of them, though, and wish the gov't would also phase them out.

Oh, yes, in before any fellow Canucksters.

Some of your coins have holes in them. You don't count!

[-=FLEX=-]

Inb4 FLEX.

Doesn't affect me.

I never use cash unless I absolutely have to (coin-op car wash, coffee shop, barbershop). Debit card everywhere else. I always leave the pennies, and in fact most change.

[crupiea]

When you think about it the only reason Canada or any country would not make them is cost.

They cost a lot to make.

Its also a secret tax on people that they dont even realize. Congrats, you just got a tax increase of .04 on every dollar.

You know that anything that was .96 is not going to be 1.00. No way will they lower it to .95. Thats just the way business works.

So after they add sales tax of course it cant equal 1.01 to 1.04 so why not just make it 1.05.

So what used to cost you .96 now costs 1.05.

Of course they will use this same math on big ticket items like cars and houses too like somehow a penny would matter.

So now the politicians no longer make pennies so they can lay off all the people who made them, save the cost of making them and charge you more for everything thus increasing sales tax revenues.

I would rather they lose money on every penny and leave me alone.

[Keltron]

Ok so assuming you didn't take my joke of an Obama statue seriously, what should be done w/all that zinc and copper?
Fiend, what is Canada doing w/pennies?..

[ArchAngel'73]

Ok so assuming you didn't take my joke of an Obama statue seriously, what should be done w/all that zinc and copper?
Fiend, what is Canada doing w/pennies?..

According to the article;
"The coin’s last stop after the Mint will be a foundry, which will melt the pennies down and recycle the metal."

Not a bad plan imo.


There have been a few coin vending macines dispersed in various stores in my area. They take in coin (including pennies) and give out paper money.
They only popped up after news of the penny's demise was made public.

I plan on keeping a few rolls of the pennies I already have. I don't know why just yet, probably nostalgia.

[Keltron]

According to the article;
"The coin’s last stop after the Mint will be a foundry, which will melt the pennies down and recycle the metal."

Not a bad plan imo.


There have been a few coin vending macines dispersed in various stores in my area. They take in coin (including pennies) and give out paper money.
They only popped up after news of the penny's demise was made public.

I plan on keeping a few rolls of the pennies I already have. I don't know why just yet, probably nostalgia.

Well, I'm sure coin collectors will pay big money someday for them.. which is kind of ironic if you think about it. Theyre out of circulation because they're worth so little but the fact that they're out of circulation will one day make them worth a lot more lol.

[-=FLEX=-]

I plan on keeping a few rolls of the pennies I already have. I don't know why just yet, probably nostalgia.

Somewhere in an old photo album I have a couple $1 bills from when we went to the $1 coin and stopped using paper money for a single dollar.

No idea if they're worth anything. I bet a lot of people did the same thing.

[LisaSkinnoble]

I have one of these kicking around somewhere too:



I don't think they're worth anything unless they are in mint condition.

[Keltron]

I have one of these kicking around somewhere too:



I don't think they're worth anything unless they are in mint condition.

both the French and English speakers call the unit "dollar"?