Canada halts penny production ?

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donpaulo
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Canada halts penny production ?

Still trying to figure out the warped decision making in Ottawa on this one... I mean so it takes 1.6 Canadian cents to issue a penny, this is the rationale to cancel it entirely ? huh ?

Like they can't reissue a penny made of aluminum or even plastic ? Nope.  Its copper or nothing. What kind of government operates with this thought process ? wait don't answer that :)

So now everything in the Great North is going to be priced in 5 cent increments ? Nothing is 99 cents anymore, how about your apps store. Nope its a buck. Small change you might say, but if and when they have to bump the price up it goes up by 5, not 1. I view it as essentially another consumption tax.

Further the Loonie is now divisible by 20, not 100. In a twisted way of thinking this makes the Canadian dollar closer to a quarter and actually not even that as it takes 20 coins to make a dollar now. Which now means that the 5 dollar bill is now divisible by 100. So I guess 5 bucks is now the new standard ?

The road to hell is paved with intention, good bad or otherwise

I see this as yet another confirming indicator that times be a-changing

Robert Zimmerman said it best

Edited by admin on 11/08/2014 - 06:02
Stoxxman
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Penny useless as hell

Canada saves $ 11 million per year on a useless coin that has virtually zero purchasing power anyway.  

There is no reason to keep something that serves no useful purpose. FACT.

HappyNow
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A penny buys nothing

A penny buys nothing anymore.   I will be glad not to carry them around. 

Yes it is true that it means coming to grips with currency devaluation in a tangible way.

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boil_in_the_bag_rice
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Here in Finland everything is

Here in Finland everything is rounded up or down to the nearest 5 cent.

If you pay by credit card you pay the exact amount.

It's an excellent idea.

donpaulo
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Here in Japan they use an

Here in Japan they use an aluminum 1 yen coin and they are ubiquitous. From where I sit it doesn't matter if it has buying power or not, currency must be divisible into 1% increments. As I mentioned before the $5 Canadian note IS divisible into 1% units, but the dollar is now a glorified quarter as far as I am concerned.

In Canada its not anymore and that has my radar up more than usual

Stoxxman
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divisible?

I do not understand this argument at all.

To put this into perspective.  Several days ago I noticed about half a dozen pennies lying in the street.  I had no interest whatever in picking them up of course and after a week they are STILL lying there.  What is this telling us?

NOBODY, not even panhandlers and biners, are interested in getting their hands dirty picking up worthless coins.

That's an argument that makes sense.

panhandler.jpg

donpaulo
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obviously we be cut from

obviously we be cut from different cloth

money on the ground sounds like free money to me

my parents grew up in the depression so I guess I learned the value of saving pennies

I wonder if it were 100 pennies on the ground if it would still be there the next week, 1000 pennies, 10000 pennies, 100,000 and so on

I don't understand the logic of not taking the "free" pennies

HappyNow
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Maybe it's a Canada thing

donpaulo I observe the same thing with respect to free pennies on the ground.

I've even seen people bend over to pick up the nickel and leave the pennies behind.

I grew up with the British system of measurement as Canada's standard and have lived through the transition to SI.  Well not even the proper implementation of SI but that's another rant.

Prior to the introduction of degrees Celsius it was thought that degrees F were superior because one could talk about the weather with greater precision.    Because there are more numbers between 32 and 212 than between 0 and 100.

The weather.  As if our skin is sensitive enough to detect a difference  of 0.5 C or even the <sarcastic> difference of 1 degree F.

From a practical and pragmatic point of view divisibility makes little difference.

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donpaulo
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So I guess the question

So I guess the question is

how many pennies on the ground will attract enough of your attention to stop and pick them up ?

everyone has a price, whats yours ?

unless you are saying that 1 million pennies are not worth your time or effort

HappyNow
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donpaulo wrote: So I guess

donpaulo wrote:

So I guess the question is

how many pennies on the ground will attract enough of your attention to stop and pick them up ?

everyone has a price, whats yours ?

unless you are saying that 1 million pennies are not worth your time or effort

My guess is 5.   In other words when it is a nickel.    :s

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donpaulo
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or if you prefer when 5

or if you prefer when 5 pennies = 1 nickel

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