gorocks99
Posts: 10,760
Feb 6, 2013 3:32pm
http://news.nationalpost.com/2013/02/04/canadian-penny-last-day/
They estimate they'll be out of circulation in 3-4 years, and they're asking stores to start rounding cash transactions to the nearest $0.05
They estimate they'll be out of circulation in 3-4 years, and they're asking stores to start rounding cash transactions to the nearest $0.05
OSH
Posts: 4,145
Feb 6, 2013 3:37pm
Smart move.
In America, we sit on our butts and don't worry about smart political moves that make sense.
In America, we sit on our butts and don't worry about smart political moves that make sense.
Raw Dawgin' it
Posts: 11,466
Feb 6, 2013 3:40pm
Why even have coins?
gorocks99
Posts: 10,760
Feb 6, 2013 3:43pm
Longer circulation life than bills, I'd guess.Raw Dawgin' it;1383746 wrote:Why even have coins?
M
MontyBrunswick
Feb 6, 2013 3:45pm
gorocks99;1383749 wrote:Longer circulation life than bills, I'd guess.
Correct.
TedSheckler
Posts: 3,974
Feb 6, 2013 3:58pm
But they still have the Loonie and the Toonie.
Nothing sucks worse than walking around Toronto with a shit load of them in your pocket. Give me $1 bills any day.
Nothing sucks worse than walking around Toronto with a shit load of them in your pocket. Give me $1 bills any day.
W
WebFire
Posts: 14,779
Feb 6, 2013 4:42pm
Yep. We should follow. But we won't.OSH;1383744 wrote:Smart move.
In America, we sit on our butts and don't worry about smart political moves that make sense.
Tiger2003
Posts: 15,421
Feb 6, 2013 11:32pm
Who needs pennies eh?
Apple
Posts: 2,620
Feb 6, 2013 11:55pm
Modus operandi these days is to lead from behind so maybe this idea originated in the States.WebFire;1383786 wrote:Yep. We should follow. But we won't.
..then again I could be wrong, maybe what I heard was that we lead with Michelle's behind.
Laley23
Posts: 29,506
Feb 7, 2013 12:03am
Doesnt it cost more to make a penny, than 1 cent??
Ironman92
Posts: 49,363
Feb 7, 2013 6:08am
I think it cost like 3 1/2 cents
bases_loaded
Posts: 6,912
Feb 7, 2013 9:30am
How much does a $100 bill cost?
gorocks99
Posts: 10,760
Feb 7, 2013 9:31am
According to the article it costs Canada 1.6 cents per penny.Laley23;1384131 wrote:Doesnt it cost more to make a penny, than 1 cent??
Laley23
Posts: 29,506
Feb 7, 2013 10:27am
Ironman92;1384159 wrote:I think it cost like 3 1/2 cents
Ridiculous we havent found a solution to this yet.gorocks99;1384292 wrote:According to the article it costs Canada 1.6 cents per penny.
FatHobbit
Posts: 8,651
Feb 7, 2013 10:36am
Laley23;1384131 wrote:Doesnt it cost more to make a penny, than 1 cent??
It costs the US 2 cents to make a penny and 10.09 cents to make a nickelgorocks99;1384292 wrote:According to the article it costs Canada 1.6 cents per penny.
http://news.coinupdate.com/cost-to-make-penny-and-nickel-declines-but-still-double-face-value-1751/
ernest_t_bass
Posts: 24,984
Feb 7, 2013 10:39am
That's ridiculous. They should start making nickels out of the materials they used to make the pennies. Derpina.FatHobbit;1384350 wrote:It costs the US 2 cents to make a penny and 10.09 cents to make a nickel
http://news.coinupdate.com/cost-to-make-penny-and-nickel-declines-but-still-double-face-value-1751/
M
MontyBrunswick
Feb 7, 2013 10:41am
It's ridiculous, but they aren't losing money. The article says that they re-coup the difference on larger denomination coins.ernest_t_bass;1384354 wrote:That's ridiculous. They should start making nickels out of the materials they used to make the pennies. Derpina.
Laley23
Posts: 29,506
Feb 7, 2013 10:48am
Kind of. But if they were more efficient they would recoup MORE. Overall, not losing money. But still wasting more money then they need to.dlazz;1384358 wrote:It's ridiculous, but they aren't losing money. The article says that they re-coup the difference on larger denomination coins.
M
MontyBrunswick
Feb 7, 2013 11:44am
You mean a government agency is wasting more money than they need to?Laley23;1384365 wrote:Kind of. But if they were more efficient they would recoup MORE. Overall, not losing money. But still wasting more money then they need to.
FatHobbit
Posts: 8,651
Feb 7, 2013 12:02pm
Lol. Maybe they should redesign all the coins so they are smaller while they are at it.ernest_t_bass;1384354 wrote:That's ridiculous. They should start making nickels out of the materials they used to make the pennies. Derpina.
sleeper
Posts: 27,879
Feb 7, 2013 12:47pm
Make them out of plastic. Problem solved.
OSH
Posts: 4,145
Feb 7, 2013 1:43pm
And move the bills to polymer. Yet another thing Canada has over the US...sleeper;1384528 wrote:Make them out of plastic. Problem solved.