Canada To Stop Making Pennies 473
New submitter butilikethecookie writes with news that the 2012 federal budget for Canada calls for the Royal Canadian Mint to stop producing pennies. "The budget calls the lowly penny a 'burden to the economy.' 'It costs the government 1.6 cents to produce each new penny,' the budget says, adding the government will save about $11 million a year with its elimination (PDF). Some Canadians, it says, consider the penny more of a nuisance than a useful coin. ... Rounding prices will become the norm as the penny is gradually removed from circulation, the budget says. If consumers find themselves without pennies, cash transactions should be rounded to the nearest five-cent increment 'in a fair and transparent manner,' it says. Noncash payments such as checks and credit cards will continue to be settled by the cent, however."
Re:I'll own up to it...I throw them away (Score:5, Funny)
Value of one hundred pennies - $1.00
Value of one sock - $1.98
The look on the guy's face when you hit him in the head with a sock full of pennies - priceless
My two cents on this.. (Score:4, Funny)
is going to be rounded up to a nickel.
And So Begins (Score:5, Funny)
Now, if you'll excuse me, I'm off to my secret bunker, as I believe I hear the Hyperbole Police coming up the stairs. *dons tinfoil hat* Excelsior!!!
That's OK (Score:5, Funny)
Re:DST (Score:5, Funny)
If you believe daylight savings time is the only thing keeping the US from looking silly, you're sadly mistaken.
Re:My two cents on this.. (Score:5, Funny)
Re:Just like in Switzerland (Score:5, Funny)
> Here in Switzerland this is already implemented.
I'm not surprised -- most countries already don't produce Canadian pennies.
Re:Love It - even though I'm cynical about the int (Score:4, Funny)
Re:I'll own up to it...I throw them away (Score:4, Funny)
I bet the drive-in cashiers love you...
Re:I'll own up to it...I throw them away (Score:5, Funny)
Re:That's OK (Score:5, Funny)
And American retailers will continue to accept your funny-looking pennies with some lady on them. I had one cashier remark how they're always changing the coins, and how it must be Lincoln's wife.