Canada to stop using the penny, should the US?

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kombat96
Herf-A-Holic Topic Starter

13 years ago

Canada will round to the nearest nickel, down, if an item ends up being .07 cents and will round up at .08 cents.

Think the US should follow suit?

I work in retail and say the penny is a waste more or less, but it was created and needed years back. With everything going electronic change...meaning quarter, dimes and penny's are being used less.

BUT, with that being said, I see a valuable use for pennies. Charity, we have charity boxes at each and every register and more often then not when a customer gets lets say four cents back, they just walk off or place it in these charity boxes.

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DadZilla3
Herf-A-Holic

13 years ago

Think the US should follow suit?

kombat96 wrote:

Might as well. In reality, the penny now has only about 1/10 of the purchasing power that it did in 1950. So we can either just get rid of pennies as a coin that has outlived its usefulness, or stop debasing our currency.

I'm guessing we'll just take the easy way out and stop using pennies. In purchasing power a nickle or dime is actually the new penny anyway.

Edited by user 13 years ago | Reason: Not specified

Gene363
Herf-A-Holic

13 years ago

Yes.

The escape pod: https://cigarbid.freeforums.net

DrMaddVibe
Herf-A-Holic

13 years ago

I'm saving them and gonna melt them down for when the printing press breaks.

rfenst
Herf-A-Holic

13 years ago

I'm saving them and gonna melt them down for when the printing press breaks.

DrMaddVibe wrote:

I have advocated this for over 20 years.

DrMaddVibe
Herf-A-Holic

13 years ago

I have advocated this for over 20 years.

rfenst wrote:

Oh my...I bet you have a lot of them!

I just started my collection.

LOL!

bloody spaniard
Herf-A-Holic

13 years ago

Oh my...I bet you have a lot of them!
I just started my collection.
LOL!

DrMaddVibe wrote:

They're not just for Jews, Scots love 'em too! ...and lots of other ethnic groups are having a candle vigil as well- Indians, Arabs, Koreans, Greeks...

Edited by user 13 years ago | Reason: Not specified

DrMaddVibe
Herf-A-Holic

13 years ago

They're not just for Jews, Scots love 'em too! ...and lots of other ethnic groups are having a fire vigil as well- Indians, Arabs, Koreans, Greeks...

bloody spaniard wrote:

Ok...because I can see the humor in being unpolitically correct...I LOL'D!

z6joker9
Herf-A-Holic

13 years ago

I would definitely get rid of pennies. When I do use cash, I just leave any pennies I get on the counter. Don't like keeping up with them, carrying them around, having to dig around them to find quarters for the car wash, etc.

bloody spaniard
Herf-A-Holic

13 years ago

#10

Ok...because I can see the humor in being unpolitically correct...I LOL'D!

DrMaddVibe wrote:

Don't backtrack, chickenbeak- I wasn't kidding. Those groups ARE renowned for being cheap, er, frugal. (cough cough) Been my overall experience anyway.
Yeah, I know that there are exceptions to the rule, yada yada yada. But boy, can they make a penny squeal or what...

Edited by user 13 years ago | Reason: Not specified

justinjoslin82
Connoisseur

13 years ago

#11

Im a copper hoarder. 🙂

Buckwheat
Herf-A-Holic

13 years ago

#12

I don't like the idea of getting rid of the penny because they will not round down.

They will round UP. Just look at the .009 that they always round UP on Gas. ](*,)

bloody spaniard
Herf-A-Holic

13 years ago

#13

I don't like the idea of getting rid of the penny because they will not round down.
They will round UP. Just look at the .009 that they always round UP on Gas. ](*,)

Buckwheat wrote:

Very good point.
Could turn into a windfall for some like in The Office Space movie.

Confuzed
Herf-A-Holic

13 years ago

#14

It'd sure free up some pocket space..

Buckwheat
Herf-A-Holic

13 years ago

#15

The thing is, Bob, it's not that I'm lazy, it's that I just don't care.

HockeyDad
Herf-A-Holic

13 years ago

#16

Americans following Canada's lead......

Snicker.

Confuzed
Herf-A-Holic

13 years ago

#17

The thing is, Bob, it's not that I'm lazy, it's that I just don't care.

Buckwheat wrote:

You can just go ahead and move a little bit to the left. Yeah, that's it. Great.

bloody spaniard
Herf-A-Holic

13 years ago

#18

I loved that movie.

DrMaddVibe
Herf-A-Holic

13 years ago

#19

Yeaaaaaaaaaaah...um

cacman
Herf-A-Holic

13 years ago

#20

Canada will round to the nearest nickel, down, if an item ends up being .07 cents and will round up at .08 cents.

kombat96 wrote:

Am I missing something or what. The statement says it will round down to the nearest nickel but your example shows rounding-up to the next PENNY!!!

Costs more than a penny to make a penny, but the cost of producing other coins and currency is far cheaper than their individual denominations - cost almost the same to print a $1 bill as it does to print a $100 bill. This is exactly why the guberment's spending is so out of control - if you're going to run the press might as well print the big dollars.

Better to save your stamps instead of your pennies. Talk about profit on printing costs??? How many stamps can you fit within the area of a $1 bill?

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