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Thread: Canadian penny, 1858-2013

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    Re: Canadian penny, 1858-2013

    Quote Originally Posted by Juiposa View Post
    Barely a fraction of a cent difference last time I checked. Our dollars are almost exactly equal.
    That would be correct. XE - The World's Favorite Currency and Foreign Exchange Site

    I used to travel to Calgary quite frequently. I especially enjoyed going there when the Loonie was $.65 of a Greenback, yet the prices in Calgary were similar to Denver... meaning it was like living in a 35% off sale (circa 1999-2001).... Then, over time, Calgary became a pricey city and the Loonie became worth the Greenback and suddenly I had I to watch where I went in Calgary lest my wallet be drained.

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    Re: Canadian penny, 1858-2013

    You can't buy anything for 1 cent anymore so what's the point of having this coin around? It just clutters everything up. I say good riddance, and good job Canada!

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    Re: Canadian penny, 1858-2013

    Quote Originally Posted by Harry Guerrilla View Post
    Well, if you're going to taint our money supply, at least have the nerve to do so with $C.
    I want some of those nifty bills.
    They are nifty and almost too nice to spend - I always spend the old ones first.

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    Re: Canadian penny, 1858-2013

    I'll be interested to see how this affects prices, if at all. my theory has always been that most will round up.

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    Re: Canadian penny, 1858-2013

    Quote Originally Posted by Middleground View Post
    I can't help but be a little centimental about this.
    I'd like others to add their 2 cents and give your thoughts on this. Also,do you think the US going to be doing the same in the near future?





    Obituary: Canadian penny, 1858-2013 - Canada - CBC News
    I use to collect them a little. Sometimes you'd get one in a store when they made change.
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    Re: Canadian penny, 1858-2013

    It really doesn't make sense to have any coins under $1. Consider the fact that for years the IRS requires you to round up or down to a whole dollar amount when you figure taxes.
    Scientific fact: If you took all of the veins from your body and laid them end to end, you would die.

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    Re: Canadian penny, 1858-2013

    Quote Originally Posted by Middleground View Post
    I can't help but be a little centimental about this.
    I'd like others to add their 2 cents and give your thoughts on this. Also,do you think the US going to be doing the same in the near future?


    Obituary: Canadian penny, 1858-2013 - Canada - CBC News
    It's a good idea considering no one wants pennies and a penny costs more than a penny to make and distribute. Hell, coins and small denominations of paper money (dollar bill) general cost more to manufacture than what their denomination value is. I know in the US it costs 13 cents to manufacture a nickel.

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    Re: Canadian penny, 1858-2013

    Death to pennies!

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    Re: Canadian penny, 1858-2013

    Quote Originally Posted by Green Balls View Post
    It really doesn't make sense to have any coins under $1. Consider the fact that for years the IRS requires you to round up or down to a whole dollar amount when you figure taxes.
    Oh it matters. I'm an accountant (I don't work as one now but I'm qualified).

    You just cant round money..... You ever see Office Space? What happened when they tried to round? Now imagine that on a wide scale? If the US did that we would have epic inflation.

    I like the idea but it would take creative reform for it to work and be solvent.

    Round 1,543.51 a thousand times, then do the same for 1,543.36, one would either lose a penny or make 4 on every transaction. Now what is 4 cents x 1000? 4 bucks?

    Then people bitch about ATM fees.

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    Re: Canadian penny, 1858-2013

    Quote Originally Posted by Mr.Nick View Post
    Oh it matters. I'm an accountant (I don't work as one now but I'm qualified).

    You just cant round money..... You ever see Office Space? What happened when they tried to round? Now imagine that on a wide scale? If the US did that we would have epic inflation.

    I like the idea but it would take creative reform for it to work and be solvent.

    Round 1,543.51 a thousand times, then do the same for 1,543.36, one would either lose a penny or make 4 on every transaction. Now what is 4 cents x 1000? 4 bucks?

    Then people bitch about ATM fees.

    Ahhhh, I dunno. I need to see the TPS report on that.
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