Post # 1
CANADIAN PENNY – ending February 2013
So what happens with the “penny problem” in cash transactions?
Starting in the winter, all cash transactions will be rounded to the nearest nickel: $1.02 will be rounded down to $1.00 and $1.04 will be rounded up to $1.05. For debit, cheque or credit card transactions, there will be no need to do any rounding. The penny will maintain its value in perpetuity and will always be allowed in transactions.
Read more: http://digitaljournal.com/article/329745#ixzz28zsLrurf
To me, if there isn’t going to be a physical penny, then it shouldn’t be allowed in transactions. The lowest currency should 5 cents… Now that is my 2 cents worth!!! LOL
Post # 3
That’s interesting! When I was young, we lived in Buffalo and it was extremely common to have Canadian pennies. I’ve lived in TX since I was 7, so it’s been years. I happened to get one a few months back and saved it. 🙂
Post # 4
I’m so glad we are getting rid of it. We have way too much coin money. I love the US and their dollar bills. Wallets are so much less bulky. I’ve heard rumors of a $5 coin and I think I might snap and kill someone if they introduce that!!
Post # 5
We’re collecting pennies at work for charity, so I’ve been putting a lot of them in our collection buckets.
Post # 6
I thought it was a little amusing that they decided to delay removing them from circulation. I roll my change every few months and take it in. I will continue to do so with my pennies, along with spending them on occasion until they are no longer used. I`ll probably keep some around just as a keepsake, but right now I have a few rolls worth, and I think 50 is more than enough!
Post # 7
I love our coins, you never accidentally give the wrong coin, they are all different sizes and cost much less in the long run since circulation of coins lasts decades longer then paper currency. But I want those plastic bills, like our new $100’s they need to make more of those.
Post # 8
I love the new plastic bills too! I’m quite sure they will wear longer too, which is one of the reasons they switched from paper.
Unfortunately, that’s also the reason they switched to the loonies ($1) coin) and the twoonie ($2 coin). The downside of those is the weight in your purse. The upside is thinking all you have in your wallet is some change, but then counting it up and finding you have over $20 in loonies and twoonies. Maube of the new plastic bills meet approval we can use them for $1 and $2 bills also.
I just rolled our coins last night. $137 in coins which I will deposit later today. Money is money to me.
Post # 9
That’s interesting! I love Canada.
Post # 10
Ill probably keep some (to show my kids “in my day we had pennies, and they could buy you…. Well, a whole lot of nothing) and then just spend them until the rest are gone.
Post # 11
- Wedding: March 2012 - Pelican Grand Beach Resort
I want the option of “I’m not from Canada but I’d love to not have pennies.”
In America, pennies cost more than 2 cents to make. Seems stupid to me.
Post # 12
I’m not from canada but I do hate Pennies. I wish they would do that in th US! It actually costs more to make a penny than a penny is worth!
Post # 13
I’m not from Canada but I hate our pennies! I wish they would get rid of them in the states
Post # 14
Probably cash them in or just use them until they are gone.
Post # 15
Well, I have a massive jar of pennies, because they are hard to roll and spend… And even though sometimes I think they’re a pain inthe butt, it seems weird to just get rid of pennies. Wow, it’s going ot be a huge change!
Post # 16
@silkspectre94: They’re not hard to roll at all. You get those clear plastic coin rollers at the Dollar Store. You don’t even have to count the coins.. Just fill up one side, fold over the top and smash the little bumps on the table oir a hard book to secure it shut. Easy Peasy.