Did you know the Royal Canadian Mint is studying whether to drop the $5 bill in favour of a $5 coin? Such a move would save the federal government a modest amount of money. That’s because coins last for decades, while low-denomination banknotes – the ones that get the most use – must be replaced every year or two.
Do you think the introduction of the loonie and the toonie was a move in the right direction or are you fed up with their weight and bulk? It would seem the replacement of lighweight, convenient banknotes with heavy coins actually represented a step backward for users. Do we now need another heavy $5 coin to lug around?
Why not learn from the Americans, who’ve managed to keep on using $1 bills with no evident difficulty? As any Canadian tourist can attest, it’s a pleasure to walk around in the U.S. with less metal in one’s pocket.
Shouldn’t Canadians be consulted before Ottawa foists a new heavy $5 coin “as big as a macaroon” on us?