SHOULD WE DROP THE $5 BILL IN FAVOUR OF A COIN?

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?

5 Comments »

  1. 1
    Chimera Says:

    “Shouldn’t Canadians be consulted before Ottawa foists a new heavy $5 coin “as big as a macaroon” on us?”

    Response in full snark mode: They’ve never consulted us before, so why should they start now?

  2. 2

    Ditto.

    But the coinage is annoying. Stop at the twoonie.

  3. 3
    Paul Costopoulos Says:

    Paper money is preferable to coins. As for consultation, well, you can daydream all you want, it’s free.
    When I was very young, my grandfather still had 0.25$ bills. they were about twice the size of a stamp and were green.

  4. 4
    Cornelius T. Zen Says:

    Good morrow, all! Why not? We have the loonie, the twoonie, why not…the Mulroney! Solid brass, pretending to be gold. The Queen’s head on the front, and on the back, a horse’s…well, I’m sure you get the picture. Save a tree. Plant a politician. CTZen.

  5. 5
    SUZANNE Says:

    Why are we sitting around worrying about coins and bills?

    I hate the idea of a new coin. We have enough coins as it is.


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