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Last day of the Canadian penny

Discussion in 'General Discussion' started by honeycomb, Feb 3, 2013.

  1. honeycomb

    honeycomb Junior Member

    Today's the last official day of the Canadian penny. Is anyone going to miss it?
     
  2. the mechanic

    the mechanic Active Member

    ... so there are now two prices for everything? an electronic price and a cash price? wow, talk about discriminatory!

    ... should be the last days of whichever minister approved this idea. and why do i just know that all prices will be rounded up and not down ...

    ... thumbs down on the demise of the penny ...
     
  3. Stuntman

    Stuntman Full Member

    Prices will be rounded off to the nearest 5 cents. If the price is 1 or 2 cents, it will be rounded down to 0. If the price is 3 or 4, it will be rounded up to 5 cents. If the price is 6 or 7, it will be rounded down to 5 cents. If the price is 8 or 9, it will be rounded up to 0 cents.
     
  4. lumix

    lumix Full Member

    RIP penny
     
  5. SBrit Invader

    SBrit Invader New Member

    Well not like the penny can do much Adios Penny..... Good job I use plastic this rounding up crap is gonna get very confusing for cashiers.
     
  6. milquetoast

    milquetoast Senior Member

  7. the mechanic

    the mechanic Active Member

    ... man, that is confusing as hell! and why hasn't the government made any public announcements to consumers about this big change. presumably they've informed business owners, but i've received no information about this. there's a nonstop barrage of announcements from the crown in all media, nothing about this though ...
     
  8. lumix

    lumix Full Member

    Was at Safeway today, I had sign on the self serve kiosk explaining how the rounding works
     
  9. milquetoast

    milquetoast Senior Member

    It was announced last year. We had a thread about it in which you participated :p.
     
  10. the mechanic

    the mechanic Active Member

    ... yes it was announced, but not by the government, it was announced by the news media. last year the government was screaming about their statistics canada survey, not this new monetary system they've initiated ...
     
  11. honeycomb

    honeycomb Junior Member

    I wonder how strict they are about this though. I was at T&T the other day and noticed that the person in front of me paid a portion of her groceries with pennies.
     
  12. lumix

    lumix Full Member

    The Currency Act states: "A payment in coins … is a legal tender for no more than … 25 cents if the denomination is one cent."
    Source
     
  13. jessy clifant

    jessy clifant New Member

    Your right, it was announced and I heard about that phasing out the penny in Canada. The news states that Canada has produced no cents since last year, and now it has officially ceased circulating them as well. A similar move has been debated in the U.S. for more than 20 years, but a choice still stays in limbo.
     
  14. LucyM11

    LucyM11 Junior Member

    It's sad to see the penny diminish, but maybe in a few years I'll be picking up more loonies and toonies off the street. :p
     
  15. johnlim

    johnlim Guest

    The penny is probably the most controversial coin in circulation, as it costs more than one cent to make one and no person likes the things. No coin is perhaps more contentious than the penny. It costs more than a penny to make a penny and the disgusting things get annoying.
     
  16. jonathan wood

    jonathan wood New Member

    I have also heard about it and many people are really concerned. In the U.S. they have been debating for years over whether to abolish the penny, or keep it in existence. The U.S. Mint would like to stop producing them, while coin collectors want to keep the penny in existence. Canadians have been faced with this very same debate themselves. However, Canada has finally come to a decision on whether to keep their penny or not. Canada has formally stopped the circulation of its penny. The move has put a decades-old debate back on the front-burner in the United States.
     

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