No More Pennies In Canada
Praise the lord! In yesterday's budget, the federal government announced that production of pennies in Canada would cease and that the Mint would stop distribution of the cursed coin by this autumn. All pennies outstanding (hundreds of billions of the things) will retain their value but circulation of them in the economy will surely quickly end.
Can you imagine a guy coming into a Canadian SC with a wagon load of his hoarded pennies to finance an evening of debauchery?
Can you imagine a guy coming into a Canadian SC with a wagon load of his hoarded pennies to finance an evening of debauchery?
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18 comments
Without pennies, taxes are typically rounded to the nearest five cents. At least that's the way they do it in places that don't have pennies right now (e.g. Australia).
Next on my hit list is the dime. I hate that tiny piece of metal, too!
Why can't we round DOWN to the nearest 5 Cents?
Nah NO government would be that NICE to its citizens!!! LMFAO
Of course, around here in the USA we also stubbornly cling to our exceptionalism on another currency issue, when virtually everywhere else in the industrial world the currency unit closest to the value of a US dollar (100 Japanese Yen, 5 Israeli Shekel, 1 Euro, 1 Pound Sterling, 1 Canadian or Australian Dollar) has for years been a coin instead of a paper note. Here instead of just replacing the dollar note with a coin we issue dollar coins as mere collector curiosities, and are about to give up on them.
Of course, good luck getting this crowd to start stage-tipping in fivers at the club... the Canadians should tell us how they do it.
As for rounding (up or down): Some states already do dollar rounding for filling out tax forms, what then nickle rounding for cash purchases. Which leads me to some remaining "jokers in the deck":
1) Will credit card charges still be done in 1c increments?
2) Ditto for bank acounts and accrued interest?
Interesting how those issues will be resolved.
And I dunno, but having the dancer's hoohah pelted with coins seems like something quite quite less pleasant than a rain of banknotes...
Ignoring the Canadian loonie toss, coins aren't generally used in clubs. Who actually keeps the coin change from a drink order? Most waitresses don't even offer it back. We don't tip coins on stage.
If we can get along without coins in a club, can't we do so in all areas? Lol
BTW I looked it up and the Canadian de-pennyfication rounding WILL be in both directions (up AND down) to the nearest 5 cents.
@Che: true, but everywhere else seems able to live with the acknowledgement that one single dollar/pound/euro is low buying power while we seem to think it's some sort of horrible shame to own up to it.
We could use bigger bills too. In most other countries the biggest bill is the equivalent of $500. I like cash for everything, and for example buying a car with cash when the biggest bill is $100 makes for quite a wad.