Canadian Pennies - GONE!

[danhughes]

Canada did something really weird a couple of weeks ago. They did away with pennies.

As of February 4, banks could no longer get pennies from the mint. In fact, they have to turn in all their pennies. And merchants can no longer give pennies in change.

Basically, Canada is trying to get all pennies out of circulation, and be done with them forever. Like we did with half-cents back in 1857.

Listen to the whole story at http://thetreasurecorner.com.

[giant056]

I got one in change yesterday but I'm in Michigan, now I wonder how long they'll be in circulation in the U.S.???

[RobW]

They are going to send them all here!

[danhughes]

I got one in change yesterday but I'm in Michigan, now I wonder how long they'll be in circulation in the U.S.???

There is a move afoot to get rid of pennies in the US, but it has yet to make much of an impression.

[Timewarpdigger]

I guess they will become collector items.

[BTV Digger]

Yeah, the move to abandon the Canadian penny has given more impetus to do the same here in the states, but there are some amazingly strong lobbying interests down in D.C. that aim to preserve it. Alternatively there are organizations that aim to get rid of it. If interested, do an internet search on "Citizens to Retire the U.S. Penny" and "Americans for Common Cents". The U.S. mint has stated that pennies and nickels have essentially been made at a loss since 2006 due to material costs so at some point you'd think things may change, at least in regard to the penny. Heck, many smaller stores already do rounding (in favor of the customer of course) to the nearest nickel when returning change just to avoid the whole penny thing anyways.

BTV Digger

[danhughes]

Heck, many smaller stores already do rounding (in favor of the customer of course) to the nearest nickel when returning change just to avoid the whole penny thing anyways. BTV Digger

That hasn't happened any place I've shopped!

I'm guessing the only people who favor keeping the penny are those who have stock in zinc companies.

[will penny]

Could be worst.......

[danhughes]

I'd actually be excited to find a peso! I don't think I've ever seen one!

[Digger Don]

I'd actually be excited to find a peso! I don't think I've ever seen one!

Exactly, we don't find to many of those in Illinois. ( i haven't found any ) YET

[Skamaniac]

The US Forces PX system got rid of pennies in Germany when I was stationed there in 1981. (Don't know if it's still that way...?) We could give pennies to pay for something at the PX, but they did not give pennies in change. They rounded to the nearest nickel for purchases. I liked it.

[giant056]

Foreign coins don't bother me in the least I rather enjoy finding them myself!

[avmath]

Canadian already said their goodbye with their penny. Some financial experts are also considering eliminating the US penny because they think it will save the nation $11 million a year.