Canada Kills Their Penny

Submitted by: akabane 5 years ago in

Good job Canada. Hopefully the US will follow.
There are 47 comments:
Male 194
Even if Americans don`t follow Canada`s fine example, it`ll make our lives easier because we`ll stop getting the worthless Canadian pennies that end up in our change because nobody bothers to check whether they`re actually legal tender.
0
Reply
Male 411
GG Canada
0
Reply
Male 663
No I didn`t watch it. I thought it was a video that would tell me what I know, ie they`re dumping the penny. Meh, I`m not that interested to be honest.
0
Reply
Male 646
I`m glad somebody is spending so much time and energy on such an important issue....
0
Reply
Male 1,292
@Mister_C

Did you not watch the video? You drattard.
0
Reply
Male 5,811
[quote]The cost of making the coin and it`s face value are separate things.[/quote]
Correct. One is more than the other, but whereas with the $100 bill, the cost is going in the wrong direction. It was a good move by the tories, but not surprising that they announce it in the budget to draw attention away from their cuts, or their war on science and especially the environment. Also funny how the Elections Canada Chief was to come and give his report to the government during the announcement of the budget...
0
Reply
Male 68
I`m Canadian, totally anti-penny and I think it`s great we`re getting rid of it but the idea that the country loses money making the penny is as solid as the idea that we create money when we print $100 bills. The cost of making the coin and it`s face value are separate things. I agree producing the penny is a waste of money but not by that logic.
0
Reply
Male 68
@Mister_C Seems you didn`t watch the video. First off the penny isn`t gone just yet, that`s coming. Also, yes there will still be items at $2.99. Cents still exist on paper there will just be no coin to represent it. And only the total is rounded and only if you pay in cash.
0
Reply
Female 87
Yes, that was their position before they were elected. Just wait around a while, Intrigrid. http://rabble.ca/blogs/bloggers/mercedes-allen/2012/03/parliament-debate-abortion-april
0
Reply
Male 663
So all Canadian stores no longer have things at 0.99 or 2.99 etc?
0
Reply
Female 84
Let`s just get rid of all money and go back to trading goats.
0
Reply
Female 3,696
This should be mandatory for all Canadians to watch, translated into every damn language they might speak because regardless of how amazingly simple and COMPLETELY NOT ORIGINAL (Kudos Aussies and Kiwis in general) this is, I`m still going to hear cheap basterds boo and hiss because `all your prices went up because of PENNIES"`

@Gerry
I don`t understand that! :( Every store I`ve ever worked at has accepted American change as interchangeable and hell, we take American cash, we convert it at the till...but every time I`ve been in the states, they won`t even take like a quarter. America? y u no nice to Canadians like Canadians is nice to u? :(
0
Reply
Male 914
"Um, excuse me. I have no problem with losing the penny, but Canada is not `progressive". Anyone who still thinks so is not reading the news."

Our most right-wing party refuses to oppose abortion or same-sex marriage. To me, that`s pretty progressive.

I still agree with most right-wing economic policies, though.
0
Reply
Female 87
Um, excuse me. I have no problem with losing the penny, but Canada is not `progressive". Anyone who still thinks so is not reading the news. We`re living in a corporate fascist state, and abolishing the penny is the only innocuous thing Stephen Harper has ever done. Wait! Delete that. I meant to say, "the most wonderful thing Our Glorious Leader has ever done".
0
Reply
Male 1,068
Wow Canada, you`re so progressive. If anything America will keep their pennies just to spite you.
0
Reply
Male 5,811
It`s not rocket-science, it`s simple inflation. The US had the half-penny or half-cent, but it was discontinued when the price of things became too large to make that denomination of money useful.
0
Reply
Male 12,365
[quote]I throw all my pennies in the trash. I get funny looks, but I save ~30 seconds a day that I would otherwise spend rooting through my pockets trying to find non-pennies.[/quote]

I have a few old sweet jars at home. I drop 1p, 2p, 5p and 10p coins in them when I get home, so I never have many in my pockets. Every now and then I empty them out and swap them for larger denominations.

All those small coins add up over time. Add up into toys, basically. The monitor I`m looking at now was almost entirely paid for from my sweet jars of trivial coins, as was the external drive I back up to. The next batch will probably be a new graphics card. Or, more likely, about half of one as I`ll probably buy a more powerful one than I need, add some third-party cooling and overclock it for more power, just because.
0
Reply
Male 12,365
[quote]When the Nickel becomes the lowest monetary unit, what used to cost a penny now will cost a nickel.[/quote]

What can you buy for 1 cent in the USA? Anything?

Your argument only applies to items bought singly. Say, for example, company X buys 1000 widgets a month for some reason. The widgets cost 1c each. Or 11c, or 37c. It`s irrelevant because (a) it`s only the total cost that matters and (b) they won`t be paying in cash anyway.

What you might get is inflation of prices at retail from x.99 to (x+1), e.g. $3.99 to $4. That doesn`t matter because prices are already adjusted for profits anyway. You`ll just get some items at x.95 instead.
0
Reply
Male 4,793
"I throw all my pennies in the trash."

Me too, unless there is something particularly special about it.
0
Reply
Male 144
I throw all my pennies in the trash. I get funny looks, but I save ~30 seconds a day that I would otherwise spend rooting through my pockets trying to find non-pennies.
0
Reply
Male 195
Why am I learning this here? I need to watch more news, less hockey.
0
Reply
Male 37,826
OMG! You are my new hero @Dead-Kittens! Suzuki SO deserves being hit with pennies, pompus *sswipe that he is...
0
Reply
Male 38,498

Good!

I am so sick of stores slipping in that fake canada money into my change. Then at the next store I go to they won`t take it. Damnit!
0
Reply
Male 1,252
AS A CANADIAN I AM OUTRAGED! now what ami going to throw at people?:\ Nickels? (I once hit David Suzuki in the back with one ^^ )
0
Reply
Male 735
noo! i collect pennies! actually it would make them more valuable...okay, fluck `em
0
Reply
Male 453
I`m ecstatic. Canadian pennies have always been 10 times more irritating than their US counterparts. My sock drawer is lined with accursed Canadian pennies, and I`ve never even been there.
0
Reply
Male 37,826
Hooray for Canada!
No more pennies!
We`re making our bill money out of plastic now!!!

Oh heck.

@vegascartman: WHAT exactly can one buy for "a penny" these days? Aside from YO MAMA!
0
Reply
Male 734
Notice how all the proponents of penny elimination come from countries who are not major players in the global economy. What works for their economy simply is not logical that it would work for others.

Removing a penny from the economy will, in time, create inflation. When the Nickel becomes the lowest monetary unit, what used to cost a penny now will cost a nickel. This doesn`t sound like much but once you start adding up all those pennies, you`re talking about a pretty massive impact.
0
Reply
Female 734
sell your scrap copper now, the price is about to bottom out
0
Reply
Male 335
"Well Canadians have no problem throwing their money away.. They surrender half their pay check to the government."

I do too....and I live in amerika.

Kill the penny.
0
Reply
Male 771
burn all the monies!
0
Reply
Male 17
Well Canadians have no problem throwing their money away.. They surrender half their pay check to the government.
0
Reply
Male 1,099
The penny isn`t the problem.
The place our governments get them is the problem.
The value of our worthless money is the problem.
Disingenuous pricing is the problem.

Eliminating the penny is the same as giving someone with brain cancer an Aspirin because their head hurts.
0
Reply
Male 1,284
@korahn Tim Hortons is using interac,come back to reality please
0
Reply
Male 1,084
if only they would have scrapped the nickel and dime too..
0
Reply
Male 768
Yeah we killed 1c and 2c ages ago.. We also killed 5c coins a few years ago too.
0
Reply
Male 1,429
If you`re buying a coffee and timbits you can`t use Interac. Tim Hortons doesn`t take debit (at least in Atlantic Canada)
0
Reply
Male 12,365
[quote]Bring back the farthing.[/quote]

1p today is worth much less than a farthing was when it was withdrawn from use, so there`s even more reason to withdraw the penny now than there was to withdraw the farthing then.

It`s only really used to try to pretend stuff is cheaper than it is, e.g. £9.99 instead of £10.

I`d withdraw the penny and shrink the 2p. I`d also look at making them from whatever is cheapest and hard-wearing enough.
0
Reply
Female 409
GO CANADA! God, I wanna live there.
0
Reply
Male 2,034
Bring back the barter system.
0
Reply
Male 7,123
Bring back the farthing.
0
Reply
Male 1,243
Good idea, hope the UK follow
0
Reply
Male 5,811
It costs more to make than it`s worth. About time, imo.
0
Reply
Male 5,081
Canada ftw!
0
Reply
Male 1,793
we follow no one.... or everyone...
0
Reply
Male 25,416
Australia killed the 1cent and 2cent coins.
0
Reply
Male 1,093
Link: Canada Kills Their Penny [Rate Link] - Good job Canada. Hopefully the US will follow.
0
Reply