Thread: Canada's LAST Penny to be struck on Friday

http://www.theprovince.com/business/Canada+last+penny+produced+Friday/6560441/story.html


Think the US will be soon to follow?

Every penny struck costs six tenths of a cent more than the coin is worth, which the government claims costs around $11 million a year.

The government said in its Budget 2012 document that the abolition of the one-cent coin won't have a significant effect on prices, and businesses are expected to "round prices in a fair, consistent and transparent manner."

$11 million out of a few trillion dollar budget. Waste of time.
Plus that last part "round prices in a fair, consistent, and transparent manner" is like asking major American corporations not to be insanely greedy: not happenin'.

I wonder what they are gonna do with the last one.

Ok so now what about all the Canadian cents I have or will get? Do I save them, or What.?

$11 million out of a few trillion dollar budget. Waste of time.

Try $11 million out of $276 billion dollar budget. Yeah still peanuts but every little bit helps and the Canadian budget deficit is only $21 billion.

I see one of two things happening in 2015 with the US's cents. New composition or just gone. When all of these activists say that get rid of the nickel too, that baffles me. The nickel is still a good coin.

The nickel is still a good coin.

Yes it is a good coin, but it costs more than five cents to produce. It would be possible to change the composition to make it cheaper for a little while, but only with great disruption to the vending machine industry. Most likely requiring the changing the coin mechanism of every vending machine in the US. And since the bills calling the a composition change require minimal disruption I don't see how you can do it unless you define total disruption as "minimal". The only composition change I can see that would not disrupt the vending machines and would result in a cost of less than face value would be nickel plated copper. That would work with no changes needed and would have a cost of about 4.5 cents per coin. but as you can see that would only be a temporary fix.

The last one

http://www.bloomberg.com/video/92039845/

Mike

The regular press operator should have pushed the button again just for kicks

"Oops, sorry, that's not the last one!"....."Oops, sorry!"....."Oops!"......"Oops!"

I think they could make a killing! Put it in a fancy box and sell it a an insane premium. Or, they could even have waited till next year and only made one 2013 cent. Imagine the price!

From what I have seen, that last C$0.01 coin will be placed on permanent display in a national museum.

Mike

[QUOTE=Melina;1432926]http://www.theprovince.com/business/Canada+last+penny+produced+Friday/6560441/story.html


Hey! Wait a minute! I thought that the Canadian cent was copper colored like the U.S. cent. Not silver.

Anyway, I think that the U.S. cent should be abolished, then the nickel should be made the size of the cent, then the half dollar should take the nickel's size and weight. Then, chu-ching. You now have both a nickel AND a half dollar that fit in a vending machine coin mechanism. Sure it would cost vendors to retool for the new nickels and halves, but then, we would have no heavy cents to carry around in our pocket, a lighter nickel, and a space in cash register for both a lighter weight half then one quarter, let alone two quarters, and a space in the cash register for the $1 coin and, is we get rid of the $1 bill, (5c, 10c, 25c, 50c, $1) then we would also have the space for the $2 bill.

(Oh, and, I AM NOT one of those people who think "change" is "too heavy" to carry. I just worry about it rolling out of my pocket when I am sitting down, but hey, give me a roll of dollar coins or halves, or two and I'll carry them around until I find a use for each individual one of them).

I wonder if Canada's half dollar will pick up some circulation with their cent gone.

Originally Posted by Melina

Think the US will be soon to follow?

No.

Christian

maybe with a glow in the dark plastic cent