Buh bye penny!

[Carina]

Whoo hooo the penny is history!

I think this is the first time in my life I've been happy about something in the National budget!

http://www.thestar.com/news/canada/...2012-pennies-to-be-withdrawn-from-circulation

 

[Phil'sFrontier]

Yeah I am excited too. I wonder how long the US will keep their's for now?

 

[ChisJo]

Not to nitpick, but I wonder how many people will complain about the rounding up - this could add up over time if you use cash (not much I know, but if you watch your "pennies", this could equate to something to someone - Every budget book tells you to keep track of all purchases to the penny). I wish that companies in Canada would put the FINAL cost on the products instead of worrying about figuring out taxes....that way, it would always be rounded up or down and no one would be the wiser. They do this in the UK - why can't they do this here?

 

[Sue M]

Not to nitpick, but I wonder how many people will complain about the rounding up - this could add up over time if you use cash (not much I know, but if you watch your "pennies", this could equate to something to someone - Every budget book tells you to keep track of all purchases to the penny). I wish that companies in Canada would put the FINAL cost on the products instead of worrying about figuring out taxes....that way, it would always be rounded up or down and no one would be the wiser. They do this in the UK - why can't they do this here?

True! And will the retailers round up or down If it's $5.02, will they make it $5.05? They can pretty much do what they want I think.

 

[jennyjinx3]

Also yay to being able to buy more when we cross the border!!!

 

[Carina]

True! And will the retailers round up or down If it's $5.02, will they make it $5.05? They can pretty much do what they want I think.

Retailers cannot do whatever they want!
.01 and .02 will be rounded down .03 and .04 will be rounded up... ONLY if you are paying with cash. Our monetary system will still go to the .00

So if you are paying debit, credit, cheque or other? the price will be $5.02 not $5.00

MANY other Countries have been doing it for years ( in fact New Zealand - from what I have been told goes to the .10 not to the .05)

It works fabulous, it just takes some getting used to.

 

[ccudmore]

We seem to be getting along fine since they got rid of the half penny.