[vampyregirl]

Canada is phasing out the penny. In a couple months the mint will stop making them. It makes sense since the cost of making a penny is 1.6 cents. So it cost $29 million to make 18 million pennies. A waste of money.
The penny will still be legal tender but from now on those pennies used for exact change will sent to the mint to be melted down.
If you pay cash and don't have exact change the cost will be rounded off to the nearest 5 cents. So you may pay a penny or two more for a cup of coffee.

[Sixstrings]

Canada is phasing out the penny. In a couple months the mint will stop making them. It makes sense since the cost of making a penny is 1.6 cents. So it cost $29 million to make 18 million pennies.

I think your math is off.

.016 * 18,000,000 = $288,000

This had been talked about for the US for years. But then again, so has metric system and universal healthcare. It makes sense, depends on how they round, not an insignificant price hike if every round up is to a nickel.

Anyhow won't happen here any time soon, political risk with voters over the confusion isn't worth it.

[dinopello]

I am convinced more than ever that the Bilderbergs and Vandebilts conspired to impose the non-metric english system of weights and measures on the working classes and colonies. To keep us stupid. Is it any surprise that American can't cook? Try converting parm cheese in weighted pound block form, to volume ounce, and then tablespoon. It is no wonder we buy everything pre-measured and packaged and have diabetes and heart disease. Godammed conspiracies.

Most dry ingredients in recipes should be given in weight, especially for baking or else you are just guessing. I don't care if its grams or ounces, my scale does both.

[vampyregirl]

Canada is phasing out the penny. In a couple months the mint will stop making them. It makes sense since the cost of making a penny is 1.6 cents. So it cost $29 million to make 18 million pennies.

I think your math is off.

.016 * 18,000,000 = $288,000

This had been talked about for the US for years. But then again, so has metric system and universal healthcare. It makes sense, depends on how they round, not an insignificant price hike if every round up is to a nickel.

Anyhow won't happen here any time soon, political risk with voters over the confusion isn't worth it.

From what i understand it can be rounded up or down to the nearest 5 cents.

[Tanada]

In the USA so many people throw pennies in a change jar that the US Mint actually makes a profit on them, they have to make new ones every year to keep the number in circulation up and so far the zinc ones are cheaper than the value of the metal in them.

[Fishman]

In the US the issue is nickels. Present ones worth more than 5 cents. Content of nickels will certainly be changed soon.

[Revi]

Pennies are close to being worth what their monetary value is. That's why they have to go. We can't have any money in our pockets that's worth anything. We gave that up in 1971, when they quit making 40% silver Kennedy half dollars. They want to ramp up some inflation and the penny may get in the way of that.