# Ottawa plans to kill the penny **URL:** \ **Category:** Miscellaneous and Personal Stuff I Must Share\ **Created:** [March 29, 2012, 10:58pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212 "2012-03-29T22:58:44Z")\ **Posts on this page:** 20\ **Page:** 3
**Author:** ![Sunspace](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/sunspace/32/1250_2.png) [@Sunspace](https://boards.straightdope.com/u/Sunspace)\ **Post date:** [January 2, 2013, 5:28pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/41 "2013-01-02T17:28:10Z")
_bump_ Since the end date was delayed until February, there hasn’t been a lot of news about this. But I found the following story: > **[In last days of penny, businesses get ready for change](https://www.ctvnews.ca/canada/in-last-days-of-penny-businesses-get-ready-for-change-1.1082660)** > > Businesses across Canada are ready for change -- they just won’t be taking pennies. With the one-cent coin scheduled to go out of circulation on Feb. 4, 2013, all businesses from retailers to restaurants are preparing for when they’ll have to start... ---
**Author:** ![Leaffan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/leaffan/32/299_2.png) [@Leaffan](https://boards.straightdope.com/u/Leaffan)\ **Post date:** [January 2, 2013, 5:33pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/42 "2013-01-02T17:33:27Z")
> [@Sunspace](#): > > _bump_ > Since the end date was delayed until February, there hasn’t been a lot of news about this. But I found the following story: > [http://www.ctvnews.ca/canada/in-last-days-of-penny-businesses-get-ready-for-change-1.1082660](http://www.ctvnews.ca/canada/in-last-days-of-penny-businesses-get-ready-for-change-1.1082660) The gas station I was at on New Year’s day have already started rounding. No more pennies given as change. ---
**Author:** ![Sunspace](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/sunspace/32/1250_2.png) [@Sunspace](https://boards.straightdope.com/u/Sunspace)\ **Post date:** [January 2, 2013, 5:40pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/43 "2013-01-02T17:40:39Z")
> [@Leaffan](#): > > The gas station I was at on New Year’s day have already started rounding. No more pennies given as change. What chain was that? I was at Timmy’s yesterday and didn’t notice anything. Though, to be fair, I paid with a Timmy’s card that my sister gave me for Christmas. ---
**Author:** ![Leaffan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/leaffan/32/299_2.png) [@Leaffan](https://boards.straightdope.com/u/Leaffan)\ **Post date:** [January 2, 2013, 5:42pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/44 "2013-01-02T17:42:05Z")
> [@Sunspace](#): > > What chain was that? I was at Timmy’s yesterday and didn’t notice anything. Though, to be fair, I paid with a Timmy’s card that my sister gave me for Christmas. Good old Canadian Tire baby! ---
**Author:** ![Sunspace](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/sunspace/32/1250_2.png) [@Sunspace](https://boards.straightdope.com/u/Sunspace)\ **Post date:** [January 2, 2013, 5:47pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/45 "2013-01-02T17:47:14Z")
> [@Leaffan](#): > > Good old Canadian Tire baby! Well, I’m heading to NoFrills with a pocketful of toonies… we’ll see what happens. ---
**Author:** ![Sunspace](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/sunspace/32/1250_2.png) [@Sunspace](https://boards.straightdope.com/u/Sunspace)\ **Post date:** [January 2, 2013, 7:07pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/46 "2013-01-02T19:07:28Z")
> [@Sunspace](#): > > Well, I’m heading to NoFrills with a pocketful of toonies… we’ll see what happens. Nope. Paid for $14.41 worth of groceries using only coins, but I got pennies in change. ---
**Author:** ![Leaffan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/leaffan/32/299_2.png) [@Leaffan](https://boards.straightdope.com/u/Leaffan)\ **Post date:** [January 2, 2013, 7:10pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/47 "2013-01-02T19:10:10Z")
> [@Sunspace](#): > > Nope. Paid for $14.41 worth of groceries using only coins, but I got pennies in change. To bad. I spent $19.91 at Canadian Tire, handed him a $20, which he rang in, and the register actually said “Change: 10 cents.” How cool is that? ---
**Author:** ![Sunspace](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/sunspace/32/1250_2.png) [@Sunspace](https://boards.straightdope.com/u/Sunspace)\ **Post date:** [January 2, 2013, 7:18pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/48 "2013-01-02T19:18:05Z")
> [@Leaffan](#): > > To bad. I spent $19.91 at Canadian Tire, handed him a $20, which he rang in, and the register actually said “Change: 10 cents.” How cool is that? Did the receipt indicate the rounding? ---
**Author:** ![Leaffan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/leaffan/32/299_2.png) [@Leaffan](https://boards.straightdope.com/u/Leaffan)\ **Post date:** [January 2, 2013, 7:23pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/49 "2013-01-02T19:23:14Z")
> [@Sunspace](#): > > Did the receipt indicate the rounding? Don’t know. I don’t believe I asked for the receipt. (Checking pockets and wallet.) Nope. No receipt. ---
**Author:** ![Sunspace](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/sunspace/32/1250_2.png) [@Sunspace](https://boards.straightdope.com/u/Sunspace)\ **Post date:** [January 2, 2013, 7:25pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/50 "2013-01-02T19:25:11Z")
> [@Leaffan](#): > > Don’t know. I don’t believe I asked for the receipt. (Checking pockets and wallet.) > > Nope. No receipt. Oh well. I’ll have to pass by CT sometime soon then. I need to get some screws to put sway bracing on my shelves… ---
**Author:** ![Colophon](https://avatars.discourse-cdn.com/v4/letter/c/f05b48/32.png) [@Colophon](https://boards.straightdope.com/u/Colophon)\ **Post date:** [January 2, 2013, 7:55pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/51 "2013-01-02T19:55:28Z")
> [@Sunspace](#): > > _bump_ > Since the end date was delayed until February, there hasn’t been a lot of news about this. But I found the following story: > [http://www.ctvnews.ca/canada/in-last-days-of-penny-businesses-get-ready-for-change-1.1082660](http://www.ctvnews.ca/canada/in-last-days-of-penny-businesses-get-ready-for-change-1.1082660) Can anyone make cents (heh) of the picture caption on that story? > [@](#): > > The cost to redeem circulating pennies beginning Feb.4 will cost taxpayers about $7.3 million a year. Nonsensical in itself, especially when the story says: > [@](#): > > By scrapping the penny, the feds hope to save taxpayers about $11 million per year. Good to see, too, that the commenters have missed the point totally… > [@](#): > > “$1.03 or $1.04 will be rounded up to $1.05”. Good luck trying to find $1.01-02 items in the near future. All smart(cheap) owners will simply re-price everything at 4-5 cents. :smack: ---
**Author:** ![Leaffan](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/leaffan/32/299_2.png) [@Leaffan](https://boards.straightdope.com/u/Leaffan)\ **Post date:** [January 2, 2013, 8:17pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/52 "2013-01-02T20:17:47Z")
> [@Colophon](#): > > Can anyone make cents (heh) of the picture caption on that story? Apparently people will be turning in the pennies they have laying around in jars and tins around the house gathering dust. This swap for larger currency and administrative costs will average $7.3 million a year for about 6 years, but since the savings in minting is $11 million we still come out a head. > [@](#): > > Good to see, too, that the commenters have missed the point totally… > > :smack: Never read the comments section. I get embarrassed for Canada when I read the comments section on any of our national news sites. Not only is the math wrong, as you pointed out, but there’s also the fact that items will be rounded after tax is applied (which isn’t included in sticker prices here) and the fact that one typically doesn’t buy one item at a time, AND the fact that most purchases aren’t by cash anyway, but by debit, which will still charge to the penny. The ignorance is astounding, and to think shop keepers would now somehow reprice everything in hopes of gaining the extra few bucks a day is ridiculous, and doesn’t make sense at all after taxes and multiple purchases. It’s a wash no matter what they try to do. ---
**Author:** ![Yllaria](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/yllaria/32/3452_2.png) [@Yllaria](https://boards.straightdope.com/u/Yllaria)\ **Post date:** [January 2, 2013, 8:38pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/53 "2013-01-02T20:38:41Z")
> [@billfish678](#): > > Those Bastards! > > They killed Penny! Ouch. If they demonetize here, I have a jar of wheatbacks that I’ll be able to sell for their copper price. Sadly, that looks like about two fifty per pound. The jar might be ten pounds, though, so that would be dinner out. ---
**Author:** ![Sunspace](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/sunspace/32/1250_2.png) [@Sunspace](https://boards.straightdope.com/u/Sunspace)\ **Post date:** [January 2, 2013, 8:52pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/54 "2013-01-02T20:52:50Z")
Another news story suggests that the nickel could be the next to go, perhaps as a rearrangement of the currency system: > **[With penny set to retire next month, is nickel next to go?](https://www.thestar.com/business/2013/01/02/with_penny_set_to_retire_next_month_is_nickel_next_to_go.html)** > > As the penny is set to begin retirement next month, there are already calls to put the nickel out to pasture as well. ---
**Author:** ![The\_Lurker\_Above](https://avatars.discourse-cdn.com/v4/letter/t/dc4da7/32.png) [@The\_Lurker\_Above](https://boards.straightdope.com/u/The_Lurker_Above)\ **Post date:** [January 2, 2013, 9:10pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/55 "2013-01-02T21:10:19Z")
> [@Sunspace](#): > > Another news story suggests that the nickel could be the next to go, perhaps as a rearrangement of the currency system: As someone whose job involves dealing with multiple cashiers’ floats and deposits, I’d love to dump the nickel. In fact for some of our higher transaction volume positions we’ve been rounding to the nearest dime for years and no customers complain. ---
**Author:** ![hogarth](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hogarth/32/1773_2.png) [@hogarth](https://boards.straightdope.com/u/hogarth)\ **Post date:** [January 2, 2013, 9:35pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/56 "2013-01-02T21:35:55Z")
> [@The\_Second\_Stone](#): > > Penny is the only reason I watch that show. You’ve got to be kidding me; she’s so annoying. They could easily kill her off and have a perfectly fine show with just Brain and Gadget vs. Doctor Claw. ---
**Author:** ![mascaroni](https://avatars.discourse-cdn.com/v4/letter/m/dc4da7/32.png) [@mascaroni](https://boards.straightdope.com/u/mascaroni)\ **Post date:** [January 2, 2013, 9:37pm UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/57 "2013-01-02T21:37:27Z")
> [@Shakester](#): > > I explain this every couple of months, when this subject is raised here. I am Australian, I’ve been living in a smallest-change-free world for a couple of decades now. > > When we ditched the 1c and 2c coins, in 1992, **20 years ago** , the gov’t supplied a simple formula: > > Prices ending in 1 or 2 are rounded down, 3 or 4, up. 6 or 7, down. 8 or 9, up. > > Civilisation did not collapse. > > Nothing happened except that we now don’t have to fuss with worthless copper coins. It’s all good. There were a few dickheads who couldn’t compute that the formula means that they “win” as often as they “lose” a few cents, but everyone ignored them. They got used to it. No one wants to bring back 1c and 2c coins. **No one**. Not even paranoid conspiracy buffs. > > Now there’ll be two pages of Americans claiming that it can’t be done. We **did** it, 20 years ago. IMHO we need to do this in the UK. The 1p and 2p coins we have now are probably worth less than any other coins in our history. The guy at my local convenience store doesn’t even bother with anything less than 10ps. As you say, it evens itself out. ---
**Author:** ![SCAdian](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/scadian/32/3292_2.png) [@SCAdian](https://boards.straightdope.com/u/SCAdian)\ **Post date:** [January 3, 2013, 2:52am UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/58 "2013-01-03T02:52:30Z")
> [@Balance](#): > > I’m going to preempt them by saying that I’m an American who really wishes we’d do it. While we’re at it, I’d like to ditch the $1 bill for a coin. Agee wholeheartedly on both points! ---
**Author:** ![SCAdian](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/scadian/32/3292_2.png) [@SCAdian](https://boards.straightdope.com/u/SCAdian)\ **Post date:** [January 3, 2013, 2:55am UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/59 "2013-01-03T02:55:51Z")
> [@Shakester](#): > > Prices ending in 1 or 2 are rounded down, 3 or 4, up. 6 or 7, down. 8 or 9, up. > [@Sunspace](#): > > This is exactly the formula recommended by the Canadian government. That’s the way US Navy commissaries overseas have been doing it for years. When I was in Scotland ('89-'92) I kept a running total for several months. The maximum difference between register price and amount paid was seven cents (in their favour); at one point I was six cents ahead. ---
**Author:** ![SCAdian](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/scadian/32/3292_2.png) [@SCAdian](https://boards.straightdope.com/u/SCAdian)\ **Post date:** [January 3, 2013, 3:06am UTC](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212/60 "2013-01-03T03:06:45Z")
> [@Northern\_Piper](#): > > PCanada is one of the few countries that never demonetises - that is, it doesn’t declare that previous coins and currency are no longer legal tender. (The UK and the US are two others that don’t demonetise; there may be others.) The UK demonetised the old 5p coins (and the shillings that were still in use as 5p’s) in I think '91, while I was stationed in Scotland. I believe they’ve since done the same with the old 10p coins (and florins). [Previous page](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212.md?page=2) [Next page](https://boards.straightdope.com/t/ottawa-plans-to-kill-the-penny/617212.md?page=4)