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*Canada is soon to be PennyLess*

ITS ABOUT TIME... Canadians are finally going to stop making the penny... saving $11 million a year in production.... I fully freaking support this!

What about you.. think this is a great or silly move by +Stephen Harper ?

http://www.theglobeandmail.com/news/politics/ottawa-to-scrap-the-penny-this-year/article2386120/
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107 comments
 
I agree this is a long-overdue move. There are enough pennies out there to last us for several years as they phase in new prices that end in either 0 or 5 ;-)
 
Finally! This is great news.
 
As the article says: "The Canadian government is hardly alone in scrapping the penny. Federal officials noted that 17 other countries have ceased production of low-denomination coins over the past four decades."
I'm pretty sure Finland doesn't use 1 cent pieces. They are an eminently practical people. I don't know about the other 16 countries though.
 
The maple leaf is quite representative of Canada so in a sense I'm sad to see it leave, but a penny is worth so little all they seem to do is annoy you and add more weight.
 
only a matter of time before cash is gone completely
 
I always wanted the Beaver to be our lowest coin, not the stupid leaves. :)
 
I collect pennies sniff but it is a good economical move .... people will now start to devalue their nickles, instead though and we can start collecting THEM
 
+miriam dunn, yes, I could agree that people will devalue the lowest denomination and if pennies go, nickels will be considered less of value. But pennies and nickels have already been devalued not by people but by their buying power.
 
About time. Do this simple test to confirm the penny is unnecessary: put a penny on the ground in a high traffic area and watch how long it takes until someone picks it up. Did anyone?
 
what happens if your change at the check out is about 3 cents what do they do then ???
 
Call the guys from Office Space! There is about a five year window to perfect their computer scam. It will add up so much faster skimming fractions of nickels instead of fractions of pennies.
 
When someone says 'a penny for your thoughts' how will they pay?
 
i guess we should not put our two cents worth in there bees wax lol
 
+Steven Spence businesses have a few years to start changing prices to reflect 0's and 5's.... there are still millions of pennys in the market.. we just are not MAKING anymore.. :)
 
I pick them up at times -- but people don;t even pick up dimes and nickles anymore. Even in front of the high school store-- tons of loose change on the ground. The teens have big money - donl;t need loose change
 
That's one less Canadian coin I'll be getting randomly from stores in the US. Definitely good!
 
people still use physical currency? </troll> :p
 
Australia hasn't had 1 or 2 cent coins for a long long time. Lowest is 5c. I'd prefer to get rid of coins altogether though. I don't like them.
 
The US needs to do this now also. The US penny doesn't even have a penny's worth of metal in it. Waste of time and money.
 
Oz got rid of 1 and 2 cent coins twenty years ago - with so much purchasing done electronically there was no move to adjust pricing to the nearest 5 cents; instead, traders simply round cash transactions up or down to the nearest 5 but still process electronic transactions to the nearest cent (in fact, rounding electronic transactions is illegal here).
 
Might as well save copper for something more useful. Half of them end up in the US anyway.
 
Good for Canada NOW LEARN AMERICA!! it costs a Nickel to make a penny and a Dime to make a Nickel - - how could anything so backwards hold value???
 
It is so time for the U.S. to do the same thing!
 
I believe the price of copper is better than the value for the penny in weight. Copper is very valuable right now, and prone to get stolen when "stored" in forms like as bundles of cabling for phone services etc. Copper is too valuable to be wasted on silly things like useless coinage :P
 
May have already been stated, but our penny cost in Canada is 1.5 cents each.... Go figure! :o)
 
Well, they'll still continue to exist. I need to get one! I love Canadian coins! They're so much more awesome than ours!
 
Oh sure...first the government comes for out pennies and then next thing you know it they are coming for our children...
 
They may take our credit... but they'll never take... OUR PENNIES!!
 
The government needs those pennies to cover the ever-growing purchase price of all those f-35s!
Either that, or they're going to melt 'em down so they can make replacement parts for our aging CF-18s.
 
+Christopher Calvert Canadian pennies are 4.5% copper (plated) and mostly made of steel. The metal itself is worth less than a penny still. Though production costs is another story
 
They should get rid of the nickel too, while they're at it.
 
+Barry Stewart Thanks, I've learned something new then. I probably knew that once but it got pushed out but having to learn Google+ or something like that :P
 
that's is great. I wish the US would do the same thing. It would save us a lot of money since it costs more to produce a penny then it is actually worth.
 
Years ago, when I was in Italy, I was in a grocery store and I had worked out the change I should get. They gave me my change back. It was short but they gave me a bandaid. I wondered if the bandaid was to make me feel better for having been short changed.

I told the housemates and they started laughing. Apparently, because people horded the smallest coinage, stores would give you something small to make up the difference... a candy, a bandaid, a plastic trinket...
 
cool, get rid of the 5p too then they can just round up/down to 10p. Saves alot of time making change and in manufacturing
 
Agreed, we should dump pennies and nickels in the U.S. too.
 
The value of the Canadian penny > the amount of shits I give about the subject.
 
canada is fucking awesome
 
How would sales tax work? Round up? Because you know they won't round down.
 
i dont really care pointless have some fun
 
While their at it, why not just stop making all forms of cash and go strictly plastic... We all know how secure that system is.
 
I never thought I would admit Canadas smarter...
 
11 million a year is little compared to the economic damage not having pennies will cause. Do you even realize how many business profit in the zone dealing with pennies?

I looked at my average house hold expenditures in a year and if I lost the average of 2.5 cents to balance out to a nickle each time it would mean a loss of 300 dollars. That is just me going out spending and buying stuff. Now imagine what a business that does millions of transactions a day stands to loose.

People don't really look at the full extent of issues like this they hear 11 million and think that is large.
 
If you have some that you don't want, give them to me, my son LOVES throwing them in fountains.
 
Makes cents to me. Get rid of them. I wish we in the US would get rid of our 1 sense piece.
 
saves money apparently. will cause some rounding up (never down) problems at the retail level. so essentially price of coffee etc will go up.
 
Malaysia has introduced rounding few years ago... also no more 1 Cent coins (perhaps currency value does matter as well)
 
Great idea if you like paying more for everything. Do you really think there will be a savings when the penny is gone and prices round up to the nearest nickel? Plus, where does it stop? Will nickels be discontinued? Dimes? Let's just round to the nearest dollar and avoid pesky change all together...
 
I always wonder why people who don't have any interest in a subject that someone else posts about go out of their way to point this fact out.

Perhaps they need to get together and make a list so the rest of us know what we aren't allowed to post about.

And... Canada doesn't know anything about +Alana Berry and and doesn't care.
 
No more pennies? So much for my retirement plan...
 
Better start collecting them!
 
I won't mind at all but I sure hope the retailers round DOWN on the pricing!!
 
New Zealand did this a number of years ago, with the 1cent, 2cent and 5cent coins.
 
its about fucking time, the canadians have a loony for christ sake.LOL
 
seriously.. anybody that calls their coins a looney is fucking crazy in the first place.
 
Pennies actually double for a screwdriver in a pinch.
 
GREAT!!!! I freaking hate my pennies.
 
There are tons in circulation and they last decades. No issue here other than saving a bit of money. 
 
But pennies disappear faster than other coins in the US and Canada, for their 'souvenir penny' machines!

+Dave Chambers, THIS is what I care about, those lovely little inexpensive souvenirs, hehee......

;-)
 
Does this type of change usually change pricing models (e.g. no more $X.99 because we're supposed to think in $X.95) or do pricing stay relatively the same since the rounding occurs after taxes?
 
So now all prices will be rounded up to the nearest nickel.
 
im not canadian so i dont no about this
it seems good
 
Canada doesn't have a half penny. No dollar bills, either.

Nickel, quarter, 1 dollar coin (nicknamed the "Loonie" because it has a Loon on the back) and the 2 dollar coin (nicknamed the "Twonie" because is is worth two "Loonie's").

Actually, the 2 dollar coin was the object of some amusement when it first came out because there was the image of the queen on the front and a polar bear on the other. People commented that it had a picture of the Queen with a bear behind. At the next minting, the single bear had been replaced with a mother polar bear and cub.
BRI HAR
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Nevermind the penny. Just lower gas prices! PLEASE!!
 
What's with people like +Alana Berry piping in with anti-Canada comments? Who asked you? Did someone hold a gun to your head and tell you had to make a comment on a thread you don't care about?
 
Here is what I do with pennies: when I'm out in the woods, I wing them as far as I can. I get way more entertainment value thinking about future archaeoligists finding them than I get out of its purchasing power.
 
Great, when the U.S. does this I'll go from penniless to nickel-less.
 
It was about time, it is so annoying to cumulate those penny and you cannot get ride of it without insulting the waiter(tress) for the tips ..
 
According to the budget, there is a "round-up / round-down" policy in place, although how that'll be enforced, I've no idea. Plus, this will only affect cash purchases, so people purchasing via debit or credit card will be charged more or less, depending on how the price is rounded. Pennies will still have retail value, but as they are turned into the banks as deposits, they will not be recirculated, but rather recycled.

One fear I have is that most retailers will likely round up - after all, its going to be near impossible to enforce this - so anyone paying with cash will be paying a few more pennies per purchase, which can add up... and generally, the people paying in cash rather than debit or credit are people with lower incomes. That's the unfortunate bit.

All in all, I don't think this is a bad move - pennies generally cost more to manufacture then they're actually worth - but one good move in no way makes up for all the bad moves that Harper and his Cons have pulled off over the last few years!

And jeez people, quit with the Canadian hating... if you're not from Canada, why do you care, and if you don't care, why bother posting?
 
Finally! This is great news atleast save copper for something more useful. . but what happens to existing pennies?
 
yeh.. a bit shocked on the blah Canada in this thread.... unless you are in my Canadian circle... you were not notified on this... so keep on trucking!

I assume its cause the Canada is being awesome again moment.. and some countries are just jealous of our awesomeness :D
 
It's because your posts (+Amanda Blain) show up in what's hot. So the whole world sees them!
 
Great move, it's just the evolution of the currency. And yes, G+ is getting a little strange lately (and people on it). +Amanda Blain
 
Thank god! Nothing annoys me more than discovering a Canadian penny in the change I was just handed.. which happens often in South Florida.
 
I feel so bad for you, +Jessica B . It must suck so bad to get a worthless Canadian coin instead of a worthless American coin.

Again, who asked you?
 
The only bad thing about losing the penny, is that i am sure that large organization will round everything up, taking more money out of the consumers pocket. Maybe not much per person, but overall, a large amount. Think Walmart.
 
I sincerely wish the US would jump on board with that.
 
hell yeah im all for it.but their cool looking.
 
As a military brat overseas, I grew up mostly without pennies. They didn't use them on the bases overseas at all, they just rounded up or down. I personally, though, would kind of miss the penny.
 
I HATE PENNIES BUT THEY ARE  START OF A MILLION LOL
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