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Another feather in America's Hat's Hat

mandown

mandown

Poopdeck Repost
Jun 1, 2004
21,343
8,785
Transylvania 90210
http://www.businessweek.com/articles/2012-03-30/why-the-u-dot-s-dot-penny-wont-die-like-canadas-just-did



Poor little guy. Starting in the fall, Canada’s government will stop producing the lowly Canadian penny. The fact that pennies are expensive to make and are virtually worthless in today’s economy led them to fall victim to Ottawa’s budget cuts. The government says the measure will save around $11 million a year because each new penny costs 1.6 Canadian cents to produce. (One Canadian dollar is essentially equal to $1 in the U.S.) And a Canadian penny buys you only about 1/20th of what it could when it was introduced in 1858: A penny that could hypothetically buy a whole loaf of bread then would only buy a few bites of bread now.
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JohnE

JohnE

filthy rascist
May 13, 2005
13,521
2,134
Front Range, dude...
Funny, I was talking about the cost of producign pennies with a guy the other day. It costs something like a nickel to make a penny...ridiculous. No pennys here in Europe...the military doesnt import them along with other US money...too expensive to transport.
 
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Icantdrive65

Icantdrive65

Monkey
Mar 21, 2005
609
1
Chinquapin fire road
It may seem like a waste of money to produce pennies, and it would be if they were single-use items. In reality they are spent hundreds or thousands of times before they go out of circulation, so they are actually worth several dollars in their lifetime.

They are also invaluable entertainment if you have trains tracks nearby. Unless you have hobos that frequent those train tracks, in which case they disappear before ever getting smashed. You could always super glue them to the tracks. Then you end up with a bump in the tracks...Actually two bumps in the tracks. One copper colored on the rail and one that used to beg for change downtown.
 
mandown

mandown

Poopdeck Repost
Jun 1, 2004
21,343
8,785
Transylvania 90210
the canadian pricing will still use penny amounts, but you will be rounded up/down based on the final price of all items on the receipt, including taxes. math says it should average out on average.
 
HAB

HAB

Chelsea from Seattle
Apr 28, 2007
11,586
2,018
Seattle
johnbryanpeters said:
Good for Canada. It'd save us all a bunch of time and grief and the country a bunch of money if the United States stopped producing pennies, nickels and dimes.
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mandown said:
the canadian pricing will still use penny amounts, but you will be rounded up/down based on the final price of all items on the receipt, including taxes. math says it should average out on average.
Click to expand...
:stupid: X2. Australia does this and it's way moar betterer.
 
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