Heard about this on CTV last night.

I'm not really sure if I like this or not. Makes sense because I would imagine the penny cost more to make then they're worth.

Thoughts?

 

Well that would make things easier. Half the time if I have a spare penny in my pocket I just throw it away. I've lost lots of change over the years, mostly pennies. Although I do have a Powerade bottle in my truck with probably $10 in pennies. All prices will most likely be rounded up to the next round number, which means we would pay more than we do now for stuff.

 

I think the gov't proposed the rounding to go either way. Meaning the most you'd ever over or under pay would be 2c, but im not 100% sure.

 

The only person I know that likes pennies is my 4 yr old. He thinks money is money. Denominations are for the older people,

 

 

Well, there goes my underground Copper smelting ring..........

 

Keep the penny, beside they are planning to round up the cost 5 cents..... over a life time this will be costly. and you pay the tax on that aswell!!

costs them too much to make the penny too bad!! Their problem.

 

^^ u need a new sig.

 

you ever try melting one?

Pennies made after 1996 in Canada and about 1982 in the US aren't copper. They're zinc or lead with a copper shell. When you melt one the inside melts instantly leaving just the shell, which eventually fails when it gets too hot.

 

Yep, companies sure would round their prices down, uh yeah, for sure.

It will be just like when the GST was implemented and companies were supposed to take the 8% Manufacturing tax out of their prices....... There was a one time 8% price increase almost all the way across the board and it resulted in a very slow year until people adjusted.

Eric

 

I lol'd at your sig Eric! I'm adding that too!

 

From a marketing perspective, it would kill the $999.99 mentality. I would think that more businesses would be going the way of Walmart with their 'goodwill' price drop to combat the loss of the '99' little mental trick that seems to work more often than not. I remember reading somewhere a few years back that it cost's close to three cents to manufacture a penny. In reality, WE pay that bill. I say, get rid of it. I makes cents.

 

What I think would interesting is to stop produciton of the penny, but draw out its use as long as we can. That would scare up pennys from people's cauldron's and sacks buried deep in their darkest closet.....or they'd sock more away inm the hopes that its impending rarity would make it worthwhile keeping

Who knows...

 

i just want them to bring back 1 and 2 dollar bills.
i'm sick and tired of being handed back an infinite amount of change.
i'm not a woman, i don't have a purse for this stuff (or a european carry-all a la sienfeld).

 

Only if I can figure out how to siphon these lost pennies into my Swiss bank account. If not, I'd like to see our GST and PST to drop to 10% so there isn't any need for rounding up or down, but they'd sooner go back to 15%.

 

The logical choice for commerce would be coin money because it essentially lasts forever and only requires periodic replacement and circulation.

However

I'd like to see you fit $5000 in coin money in your wallet. Its like when we were kids and we used to buy $5 worth of candy in pennies and nickels. We took a f-ing coffee can into the store. I most definately dont want to be carrying around a satchel with 30 pounds in toonies.

 

Although, you wouldn't need too many coins if there were $100 or $50 ones.......that'd be sic. Have to make sure you were paying attention when you're tossing change out to the homeless

 

Try throwing this one around. 100kgs worth @ 2.9 million bucks.