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Canadians get rid of the penny!

Posted by esh_ga z7 GA (My Page) on
Fri, Mar 30, 12 at 20:47

Something that folks in the US have always dreamed of.

Those Canadians are so forward thinking. The government said people can continue to use pennies for as long as they want, and non-cash transactions will still go to the penny. But as they gradually are removed from circulation, people should begin rounding to the nearest denomination. The government laid out ways to do that.

This is a cost saving measure for them. They expect to save $11 million a year by not producing pennies.

So US-folks: would you like to see the US do away with the penny too? I know I would.

Here is a link that might be useful: source


Follow-Up Postings:

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RE: Canadians get rid of the penny!

No!!! Call it premature nostalgia or just enjoying finding that "lucky" one lying on the ground/street.
Nickels and dimes could never replace that. My grandparents are already rolling in their graves at the thought. My grandchildren would miss out on the tradition.


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RE: Canadians get rid of the penny!

Yes! Absolutely.


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RE: Canadians get rid of the penny!

Just imagine sales that don't say "only $19.99"

Can you think of a world without that dang 9 cents stuck everywhere?


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RE: Canadians get rid of the penny!

I am sure the US will be soon to follow. They have been talking about doing the same thing. It will be to the benefit of the seller adding that penny to round up will add profit.


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Wonder what the psychological bargain point will be - $19.99 sounds just sooo much better than $20.

Just so they don't replace the penny with a 9/10's chit for your gas pumping experience.


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RE: Canadians get rid of the penny!

Canadians were slow to join this train, the US is slower.

Get rid of pennies and paper $1 bills.


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RE: Canadians get rid of the penny!

100 pennies still equal a dollar, and that's good enough for me.

People throw them everywhere, and I'm not too embarrassed to pick them up when I see them. It's still considered US currency.


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RE: Canadians get rid of the penny!

JMC, you probably know this, but Canada hasn't had $1 or $2 paper bills for several years - no one seems to miss them.

There's been lots of chatter about the budget announcements here since Thursday, and I heard someone say on one of the radio programs that it costs a minimum of 1.6 cents to produce a penny!

I usually throw my pennies in an ice cream container in the closet, and then donate them - my nephews have done penny drives as part of their school winter carnival, and so has a friend's Sunday School class. The loss of the penny might be a bit of a disappointment groups such as them.


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RE: Canadians get rid of the penny!

  • Posted by ohiomom 3rdrockfromthesun (My Page) on
    Sat, Mar 31, 12 at 9:27

...."find a penny pick it up, all the day you'll have good luck"

They fill old coffee cans here Jodik good places to find "luck" is gas stations LOL


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RE: Canadians get rid of the penny!

Rilie, I do know that. And The UK has 1pound coins, and the rest of Europe has 1 and 2 euro coins. Paper money is a waste of a country's money.


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RE: Canadians get rid of the penny!

I'd love to see the end of the penny. A worthless coin now.


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RE: Canadians get rid of the penny!

I understand some folks have been hoarding them against the day they are no longer currency, and can be rendered for the copper. There are websites devoted to that.


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RE: Canadians get rid of the penny!

I'm not proud, I'll always pick up pennies/change I see in the streets. You just never know when you might need a penny.

You never see The Sacagawea dollar in general commerce - still being given in change at USPS kiosks? Do registers even have till space?

I'm thinking the changeover to dollar coins would have to be swift here - get used to it quick. I seem to attract one dollar bills, but they fit in the wallet or don't add much weight crumpled in a pocket or purse bottom.

On the whole, though, I'm not opposed to the vanishing of this particular American icon - either the penny or the bill.


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RE: Canadians get rid of the penny!

Once upon a time when Canadians and Americans came to Britain they would either joke or complain about the size and weight of the coins. I moved to Canada but I find that I always have pockets full of loose change and here's why. In the UK if an item is priced at 9.95 that is the price you pay including sales tax. Here an item is 9.99 plus 8% plus 5% (no, it is not 13%) so you are guaranteed that the eventual figure will leave you with a pocket full of change regardless of what note you give the cashier.


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RE: Canadians get rid of the penny!

It's pretty hard not to accumulate change. I'm adept at getting the gas pump to the nearest whole dollar, but everything else is a crap shoot. At least my bank will take a sack full of loose coins for deposit or exchange for bills.


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RE: Canadians get rid of the penny!

no, not all Americans complained and/or joked in Britain...not even once upon a time.

When I have an abundance of coin, I pay by coin. Quite an easy way to reduce the quantity.


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RE: Canadians get rid of the penny!

I love them. I rarely ever spend change, so I store change in buckets, then cash it in every 5 or so years.

It adds up fast when you make numerous daily cash transactions.

I do the same thing with scrap copper, only I store it in 55 gallon drums.


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RE: Canadians get rid of the penny!

Picky much jmc. Was it really that difficult to extrapolate a generalization?


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RE: Canadians get rid of the penny!

Ohiomom, I just picked one up yesterday in front of the local gas station! And when we got home, it went into the coffee can we keep. I cut a small penny sized slot in the lid to drop them in. I'm always surprised at how quickly they add up, and how much just a few cans or water bottles can actually hold!

I can't understand why people throw them away, but I'll keep picking them up and taking them in to turn into paper money! :-)


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RE: Canadians get rid of the penny!

Maybe if we think of the penny's self value and not purchase value it would make more sense.

My mother passed recently and I found her penny collection that she has had for at least 70 years. I have been slowly going through them putting them in date containers then will go through for value. Some penny's are worth 5.00 some 100.00 if I am lucky I might find a couple of 1,000 ones. Just think the penny you did not pick up could have been a 1,000 dollar bill you rejected to bend down and pick up.

She has 2 jars full of Canadian pennies.

Here is a link that might be useful: Penny


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RE: Canadians get rid of the penny!

A couple of hundred dollars of spare change(pre-rolled while watching TV)is fun to deposit. It is mad money, treats for kids money, etc.


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RE: Canadians get rid of the penny!

The US originally had half pennies, which were discontinued in 1857.

I remember when the British discontinued their farthings (fourth-pennies) in 1960, and ha'pennies some time after.

Maybe it makes economic sense for the US to stop making pennies, though I think it would feel strange for awhile, not having them.


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RE: Canadians get rid of the penny!

The dollar bill was eliminated in Canada 25 years ago..more than a few years but it honestly seems like yesterday...YIKES!

We affectionately call our $1 coin a "Loonie" because there is a picture of a Loon on it.

The $2 coin , when introduced about 15 years ago was dubbed a "Toonie". No Canadian refers to them any other way. Must leave foreigners scratching their heads!


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RE: Canadians get rid of the penny!

OT, but as long as you're here and you did bring up loons, Chase, are they back in your neck of the woods yet? We haven't seen any yet--just your geese and some ducks.


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((((Canadians get rid of the penny!

The Loons haven't returned to our lake yet but I pine for their call, especially in the early morning or evening....soon.

As for the expletive, expletive, expletive Canadian Geese....there is a covert action underway in Canada to remove the "get home" gene from all Canadian Geese.

It's our own, subtle, typically Canadian way of exerting our sovereignty and independence!


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RE: Canadians get rid of the penny!

Although you didn't ask me - loons usually show up in lakes around here the first week in April. They'll wend their way north following the path of ice free lakes until they reach their old familiar territories. Lakes are pretty ice free here in this area but still frozen in the Boundary Waters.


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RE: Canadians get rid of the penny!

Duluth, I imagine we should probably get 'em back around the same time--like the hummers. We're totally ice-free here.

Chase, I hear those honkers are a problem at golf courses. They sure are majestic birds, though. Smart, too.


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RE: Canadians get rid of the penny!

  • Posted by natal Louisiana 8b (My Page) on
    Sat, Mar 31, 12 at 18:44

I love finding pennies, but wouldn't mind if they ceased to exist. I do not want dollar coins. I hate the weight.


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Not only that but the notes are going plastic already happened with the $100.

I'm with chase on those geese, my neighbour actually widened the river and made a beach to attract and accommodate them, they don't come over here but the sound does it's probably what that group therapy bench sounds like.


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RE: Canadians get rid of the penny!

Hahahahaha! You're such a silly goose.


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Many ducks and geese no longer migrate from this area... they're so used to getting fed and the warmer retention ponds that circulate and don't freeze over give them open water all year. Though I think other forces are at work messing up migration patterns for many animals.

I love it when the cranes and hummingbirds return... both so wonderful to watch.

And the giant owls in the woods across the road are mating at this time, their calls to each other quite interesting.

I do love the natural bird and animal populations we have.

And of coins... it would be nice if the mint would decide to make dollar coins a different shape and size than quarters...


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RE: Canadians get rid of the penny!

Jodi, dollar coins?! LOL, are you MAD? Although I did always like that wonderful weight after winning on one of the old slot machines, it's so cumbersome. I must say, however, coins somehow feel more like real money than paper does, sort of.

Different shapes/sizes would be good though, especially for some handicapped people.


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RE: Canadians get rid of the penny!

After many years of inflation it would make sense that what was a small denomination at the time of the Revolution would be absurdly tiny by now. Havn't we given up powdered wigs? Tories? Tarring and feathering? The Constitution?


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RE: Canadians get rid of the penny!

Loonies and Toonies are a different shape, size and colour from other coins and from each other.

At first I didn't like carrying them but I love them now.

It's such a neat surprise when you empty your purse and there is 6 or 8 dollars lying in the bottom or when you reach into a pocket and low and behold you find a couple of each..they really add up!

With Loonies and Toonies in my wallet , I always have more money than I think I have....and that's always a good thing!

Here is a link that might be useful: Loonie and Toonie


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I don't get that much exposure to Canadian money, but I do recall the Susan B. Anthony coin we had a while ago... a bit indistinguishable from the quarter, as I recall...


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RE: Canadians get rid of the penny!

Yes that Susan B. Anthony coin with its hendecagonal rim on both sides met with a lot of scorn; pretty much condemned artistically and as a tool of commerce.

I've got a few of the Sacagawea's and would love to spend those - probably get detained for "false utterance".

I get a fair number of Canadian coins - we get a lot of Canadians tourists and shoppers here and hopefully they won't be doing penny dumping. LOL! I even get Euros (during shipping season) on occasion.


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RE: Canadians get rid of the penny!

Gee-do people remember that we used to accept Canadian Money in the US-so common around here that the stores posted the exchange rate. I loved finding Canadian coins when I was a kid in the south.
I find the coins easier to spend than bills. I dont seem to have absorbed that they have more value than a quarter. If I give some one a bunch of coins I dont feel like I spent so much money. Oh dear if we really do get dollar coins in enough quanity to actually use..that is why we dont adjust. They have to stop making bills. In our house we call the Sacajawea ones Sacbucks.


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I'm not sure at any given time what the exchange rate is for Canadian coins. I usually save them up and put them in the Salvation Army kettles because they're able to exchange them at whatever par happens to be.


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RE: Canadians get rid of the penny!

The Canadian Dollar has been on par with or higher than the American dollar for months and months. A few slips back to the 98-99 cent range but generally at or above the value of an American dollar.


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RE: Canadians get rid of the penny!

The reason the penny sticks around, and likely will for the foreseeable future, is sales tax.

Can you imagine the outrage here if they 'rounded up'?


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RE: Canadians get rid of the penny!

As far as rounding, many sellers will round down. $9.95 sounds and looks better than $10.00. With such brutal competition and razor thin profit margins in many businesses these days, sellers can't afford to raise prices without losing customers.

To make it more profitable/possible to round down, many will use stealth price increases - lower quantity, quality or volume for the same price.

Many of the products we sell have reduced weight by grams, or quantities by 1 to stay competitive.

When you can't round down, X for $X.00, or buy one get one free sounds and looks better from a psychological perspective.


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RE: Canadians get rid of the penny!

To make it more profitable/possible to round down, many will use stealth price increases - lower quantity, quality or volume for the same price.

Aren't they doing that now; haven't they been doing that for ages - and shedding the penny and rounding to the nearest nickel hasn't been a factor.

Try and find a 16 oz. can of pumpkin for your territorially famous Thanksgiving pie. Cans of many familiar products have shrunk to 10.25 or 10.5 oz.

I make no claims of being the savviest of shoppers - but to someone whose food budget is tenuously clinging to the edge, the missing ounces make a difference.

It was my understanding there would be rounding down as well as up - hit the .01 or .02 mark it goes down; hit the .03 threshhold and it goes up.


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RE: Canadians get rid of the penny!

Yes, stealth price increases in goods and services have been going on for quite some time, but skyrocketed due to real inflation in the last several years.

Recently General Mills reported that their input costs have increased 10 to 11 percent in the last year alone.

Many costs can't be passed onto customers, or absorbed by businesses, so they sell less for the same, or slightly more.

Real inflation is why the Walmart, Aldis, Save-A-Lot, Dollar General and other discounters do well locally.

Many store brands and off brands haven't downsized yet, or haven't downsized as much.

Our water orders from one of our suppliers dropped by over 20 percent since they downsized gallons and bottles.


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RE: Canadians get rid of the penny!

Just as long as NIST doesn't get lobbied hard enough to tinker with what we know as standard weights and measures.


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