Today 4 February 2013 marks the end of the Canadian penny or Cent.
First minted in 1858 as a Canadian coin, there are today 34 Billion cent in circulation. The Royal Canadian Mint stopped making them last May 2012 and today, all of them are out of circulation.
Stores will no longer accept them nor will they give them out. You can bring your pennies to the Bank all rolled up and exchange them for paper dollars. But then even the paper currency is changing, since last year we went from a cotton paper fabric for our currency to a polymer which is a form of plastic and has that feel. This new polymer paper money will last much longer than the old version.
As for the cent made of copper alloy it was too expensive to produce and no one carried them anymore. Instead ending up in piggy banks all across the nation or in jars.
Merchants are suppose to round the price down if you pay in cash, otherwise the price is rounded up.
So this means no more $9.99 sale prices.
We will still see them for some time to come given the number of cent in private hands. But think of the expressions that will disappear, like not worth 2 cents or in French ça ne vaut pas un sou noir.
First minted in 1858 as a Canadian coin, there are today 34 Billion cent in circulation. The Royal Canadian Mint stopped making them last May 2012 and today, all of them are out of circulation.
Stores will no longer accept them nor will they give them out. You can bring your pennies to the Bank all rolled up and exchange them for paper dollars. But then even the paper currency is changing, since last year we went from a cotton paper fabric for our currency to a polymer which is a form of plastic and has that feel. This new polymer paper money will last much longer than the old version.
As for the cent made of copper alloy it was too expensive to produce and no one carried them anymore. Instead ending up in piggy banks all across the nation or in jars.
Merchants are suppose to round the price down if you pay in cash, otherwise the price is rounded up.
So this means no more $9.99 sale prices.
We will still see them for some time to come given the number of cent in private hands. But think of the expressions that will disappear, like not worth 2 cents or in French ça ne vaut pas un sou noir.
Nickel for your thoughts? I'm rounding up!
ReplyDeleteOurs are next in the firing line: like you I can't imagine life without the .99! Mind you I never thought halfpence would become obsolete either.
ReplyDeleteOnce again Canadians are so much more sensible than the Yanks.
ReplyDeleteOne downside - anytime the Canadians do anything first/sensible Americans dig in their heels not to be 2nd; now they will fight to keep the lincoln penny do or die!