There is now a private member’s bill in the hopper in Ottawa to discontinue the use of the penny in Canada.
As it stands now it costs $130 million a year to produce 1.2 billion pennies needed annually, many of them collected in jars and under people’s beds.
Both Australia and New Zealand have dropped the penny without any adverse consequences.
The Ottawa bill would introduce a “rounding”system to adjust prices to the nearest nickel. For example, if a purchase totaled $29.98, it would be rounded to $30. If the total were $29.96 the charge would be $29.95 in cash.
There are now 20 billion pennies circulating in Canada.
How do you feel when you put your hand in your pocket and you have 10 or more pennies rattling around in there?
Would you miss the penny?
Should we scrap it?
Do you know of anything one penny can buy?