Tagged: Death To Pennies

Canada Gets Rid Of The Penny.

Canada has announced they will begin to withdraw the Penny from circulation beginning fall 2012. The reason for the change is that Canada loses $11 million each year supplying pennies to the economy. To cope with the new change Canadian prices will either round up or round down to the nearest $.05 when paying with cash. Paying with check or card the price will remain the same. Other countries that have already abolished their low-denomination coins include Australia, Brazil, Finland, Israel, Netherlands, New Zealand and more. Colin Grey has created ‘Death To Pennies‘ which explains why the penny should also be abolished in the United States.
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Death To Pennies.

Today, the only thing pennies are good for are exchanging them at banks and Coinstars to get rid of your extra change. I have noticed this happening with few businesses, when they give you change they won’t even deal with the pennies and round up to the next 5 cents. We’re ready for the death of the penny, let’s hope this happens soon.