http://www.theprovince.com/business/Canada+last+penny+produced+Friday/6560441/story.html Think the US will be soon to follow?
$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.
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.
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 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