Is there anyone anywhere who disagrees with getting rid of the penny? It is really hard to find any opposition to the idea. And yet, the Canadian mint keeps stamping them out (as in minting rather than eliminating). From the Star-Phoenix (h/t KarenL):
Polls suggest that only about 35 per cent of Canadians want to keep the penny. You’d find a similar percentage wanting to keep rotarydial telephones and eight-track tape players. If we listened to them, we’d still be using shinplasters as currency.
I really wonder what the gubmnt is afraid of, why they are reluctant to do this. Are they concerned that the opposition would use it as an election issue, as in,
We have all these problems in Canada [followed by list] and what does the party in power focus on? The triviality of whether to keep the penny! Elect us and we will deal with the real issues of the day.
Or something like that. Of course, I'd love it. This issue is clearly one that should be dealt with sooner rather than later, and the gubmnt should make its case.
Israel has eliminated the 1-agora coin (the agora is to the shekel [New Israel Shekel] what the cent is to the dollar). In fact, the smallest denomination coin that's available is 5 agorot (or maybe 10 agorot, I don't remember). Prices are marked in shekels and agorot (e.g., 9.99 NIS).
If, for example, you're buying several items at one place, each individual item will appear on the bill as its listed price. However, when you come to pay the final bill that totals all the individual items, if you're paying by cash you pay to the nearest 5 [10?] agorot. If, on the other hand, you're paying by credit card, then the amount you're charged is the exact value of the bill.
I don't see any reason why Canada couldn't do something similar with the penny.
Posted by: cba | February 01, 2011 at 01:37 PM