[Bruce_E_T]

Did a search on numbers in circulation. This article from Macleans claims upward of 20 Billion or $200 Million. Interesting article with a little Historical note about the introduction of the Penny in the West.

http://www2.macleans.ca/2011/01/14/a-penny-dropped/

$1:

Coppers, as they were called, remained for years a phenomenon of Canada’s East—unpopular beyond Ontario and an early emblem of western distaste for Toronto, Ottawa, Montreal. “You left Ontario, the coppers became worthless,” says Ian Laing, president of Winnipeg-based Gatewest Coin Ltd. “People gave them away as they left.”

[Strutz]

BartSimpson BartSimpson:

Shoot, I still have a bunch of Canadian $2 bills.

Collectors might like those years down the line.

It was weird a couple of years ago at work that a customer actually paid including one of those paper 2's... hadn't seen one for years!

I have a couple of those plus a couple of $1 paper bills that I got from the bank just before they went out of circulation. The serial numbers are sequential and they are crisp.

[FurTrader4]

This has been some time in coming the cost of actually making a penny is more than it's worth....RIP Penny!

[PluggyRug]

BartSimpson BartSimpson:

The USA will do the same thing sometime soon, I am sure.

Don't worry Bart, if you rub the plating off a US nickel, it looks like a penny.

We still have some English pennies, halfpennies, farthings, threepennybits, florins, crowns and halfcrowns.

[Bruce_E_T]

BartSimpson BartSimpson:

$1:

Cash transactions will soon be rounded to the nearest five-cent increment. So if a coffee costs $1.27, it will be rounded down to $1.25. If it's $1.28, the final cost will be bumped up to $1.30.

Let me be the first to call BS on this. If it were my business and I sold something for $1.26 I'd round up to $1.30

Why should I take a loss over this?

It is not a matter of taking a loss. An argument used in the past to support the penny was that rounding was inflationary. I would round $1.27 to $1.30 but $1.26 to $1.25. That way I would make a slight gain rather than take a slight loss. I hope there is no National debate on this.

Actually getting out of the production, distribution and handling costs is a gain for everyone but I do not think anyone expects merchants to take a loss on it.

Sad thing is that the3e Penny used to be worth something. Even when I was a kid you could get three candies for one. Now all they do is annoy people and help wear out your pockets.

[raydan]

I'm sure everything that cost "x.99" will now cost "x.95", instead of "x + 1".

[Bruce_E_T]

raydan raydan:

I'm sure everything that cost "x.99" will now cost "x.95", instead of "x + 1".

Hmm. I think you are right. The idea is that the price is supposed to look less than the next dollar value.

On the other hand penny matches will cost a nickle or maybe 2 for a nickle if we are lucky.

[Brenda]

martin14 martin14:

Darmax Darmax:

Wait to see what happens next

Was done in Europe a few years ago.

Next.. everything got rounded up... plus a little extra.

Only if Canada changes currency to the Euro

The Netherlands stopped producing the "cent" in 1980. Prices went from 1,99 to 2,00 or 0,97 became 0,95.
When the Euro was introduced, they got 1 and 2 cent coins back, but they are not used.

[ShepherdsDog]

sort of funny. When they first started using 'pennies' they were made of silver.