No more Canadian pennies..
- Thread starter jujubeans
- Start date
This idea has come up in the US also. The only problem it will cost the consumer billions of dollars. The American businessman would never ever round down. More likely they would round up ten or fifteen cents. Like if gas was $3.84.9 do you think they would round up to $3.85. Fat chance. They would go to $3.90 or $3.95. Jerry Lee
The $3.849 isn't the issue, the final cost is the issue. Buying 12.83 gallons for your Honda at $3.849 is $49.38 so you'd have to pay $49.40 for it unless it was on a card. It would likely cause more transaction to go to debit/credit cards. They should do away with $1 bills as well, making users go to $1 coins. The cost of $1 bills is huge compared to their lifespan vs. coins. The public wouldn't like it. The public would complain. Too bad. Tough. Let them complain their stupid donkey off. It's the fiscally responsible thing to do and is no harm to the public doing it.
A long time ago when I was a truck driver, periodically I would find myself at a K-mart distribution center. While there, I would often hit the employee breakroom and marvel at the vast array of vending machines and what one could purchase. Everything from coffee to ice cream.
On one particular occasion I had no coinage with which to feed the vending machines. I pulled out my wallet (no chain attached) only to find $20's. To my surprise the bill change machine accepted 20 dollar bills. I from Minnesota, so technology of this sort peaked my curiosity. I eagerly fed a $20 into the slot. It immediately gobbled up the bill. Once it digested the $20, the change machine did a rendition of Billy Joel's Easy Money . Coins came crashing down! I thought I hit a slot machine jackpot, although I have never heard the sound of a slot machine jackpot. I dug out all these coins, huge coins! Bigger than a quarter, but smaller than a real silver dollar. Turns out these coins were Susan B. Anthony silver dollars and I only received 20, which was exactly equivalent to the amount I inserted into the machine, $20. No jackpot. But I did attend Susan B. Anthony Junior High in Minneapolis, so that was kinda cool.
I still have a few of the coins stashed in my socks and underwear drawer along with some real silver dollars, silver certificates and other weird money. The rest of the Susan B. Antony coins were given to my kids as a gift from the Tooth Fairy, or for getting beaned with a baseball. Hey, the coins were pretty much useless except at a bank or the K-mart breakroom and my kids thought they were somewhat impressive. One of those win-win situations.
besides the 1 dollar bill....called the Loonie...2 dollar bill called the Tooney...Canada has now introduced the Polymer bills.....more plastic then paper for a longer life span...
Just don't put them in the dryer....your economy will shrink....LOL
Competition will take care of the penny issues...IMO
Just don't put them in the dryer....your economy will shrink....LOL
Competition will take care of the penny issues...IMO
jujubeans
OVM Project Manager
I'm always washing that dollar bill that I stick in my pocket...so if the money shrinks is it still legal tender?
I bet you also saw a lot of two dollar bills. When I was making courier trips to Germany in the 80's I would always get them as change in the BX. Jerry Lee