Lighter Budget news! It'll now be a "Nickel" for your thoughts! No more pennies!!!

Discussion in 'The Fire Hydrant' started by LauraLeigh, Mar 30, 2012.

  1. LauraLeigh

    LauraLeigh New Member

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    Canada is pulling the penny from circulation!

    It now costs 1.5 cents to make a penny.... Soooo bye bye penny!

    I guess it's a dilemma for the US as well as pennies cost near two cents there to make...

    Thoughts?

    http://m.yahoo.com/w/news_america/b..._host_hdr=news.yahoo.com&.intl=us&.lang=en-us

    I wonder at the impact on small business's software but other than the nostalgic aspect can't see it having a huge impact...

    One of my regular customers from Norway said it really does not impact much there....
     
  2. Beanie

    Beanie Clicker Cult Coordinator

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    This has been a problem for a few years I think! I don't see how you can have no pennies. XD does everything just round up to the nearest 5 cent...
     
  3. sparks19

    sparks19 I'd rather be at Disney

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    Well somethings gotta give LOL. If they do the $5 coin an keep the penny people are going to be lopsided unless they divy up their change evenly in each pocket :p
     
  4. JessLough

    JessLough Love My Mutt

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    I love the idea. I hate pennies, majorly.

    From what I understand, the cost will just go up after the taxes are applied to the nearest 5 cents... but if you are paying interac, it will still use the penny amounts.
     
  5. LauraLeigh

    LauraLeigh New Member

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    That's what they describe in the article and what my customer said... Seems weird eh? I guess sometimes we'll pay pennies more and sometimes less.. Though the cynic in me figures it will be more most times... Though I don't think it will have a huge effect on the bottom line, it's weird.. It seems so odd to think of no pennies...

    Nickel pincher just does not have the same ring to it!
     
  6. Fran101

    Fran101 Resident fainting goat

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    I feel bad for the penny..

    and for Pluto.
     
  7. LauraLeigh

    LauraLeigh New Member

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    Ohhhh it is up? Missed or skimmed that part! And I missed that about debit....

    I just realized its late for me, starting to show... Should get to bed! LOL


    I AM getting tired..... I was like Pluto? What's the DOG from Mickey have to do with pennies :rofl1:

    Then it sunk in, ohhh she means the non planet!!!
     
  8. jess2416

    jess2416 Who woulda thought

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    i would rather keep pennies and get rid of nickels.... i despise nickels lol
     
  9. JessLough

    JessLough Love My Mutt

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    Lol sorry, I think it's up or down depending on the total, but like, the items are not individually changed.

    I didn't actually read the article, it's just the info my mom was telling me :rofl1: (she works for the local paper)
     
  10. AllieMackie

    AllieMackie Wookie Collie

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    They're currently saying that rounding up/down to the nearest five cent increment will be up to the individual retailer. Most will likely opt to round to the closest as opposed to just up.

    Debit and credit transactions are still to the penny.

    Many countries have long ago eliminated one cent denominations. It saves our government something like 130 million a year. I wish they'd give those savings to CBC instead of axing their budget. Grrrr.
     
  11. GipsyQueen

    GipsyQueen Active Member

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    We still have 0,01€ coins. They are nothing but annoying in my wallet. We don't need them - we have 0,02€ coins as well so it really wouldn't be a problem.

    Edit: I just remembered that some stores already round down the price of an entire purchase. A few weeks ago friends and I were at DM (like CVS) and the rounded our purchases to the lower 0,05€ (I had a total of 9.94€ and payed 9,90€) They aren't the only store either.
    Where I work we don't accept 0,01€ or 0,02€ coins anymore...
     
    Last edited: Mar 31, 2012
  12. LindaJD

    LindaJD New Member

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    A nickel for your thoughts.
     
  13. Puckstop31

    Puckstop31 Super-Genius

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    Hoard pennies! They will soon be a rare "collectors" thing. LOL

    I have a bunch of canuck pennies in the old car. Any takers? LOL
     
  14. BostonBanker

    BostonBanker Active Member

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    I agree - I've discussed it with several people, and nickels are by far the worst coin. Big and clunky for a whole lot of nothing. Away with nickels!
     

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