Not any more! Now your thoughts will be worth a nickel—at least
in Canada anyhow.
The penny is being phased out by Canada's Economic Action
Plan of 2012 because the government thinks the penny isn't worth producing in
relation to its face value. And, supposedly it will save taxpayers about $11
million a year by not producing it any more. Even though the penny will remain Canada's
smallest coin denomination for retail sales, we are told only cash transactions
will be affected.
Of course, the government does not tell you HOW future cash
transactions will be dealt with in regards to "topping up" to the
nearest nickel. For example, if you purchase an item that costs $1.97, do you
think the retailer is going to reduce the price to $1.95? Not a chance—it's
going to cost you $2.00. The price will always be 'topped up' to the nearest
nickel.
The only recourse to topping up to the nearest nickel would
be to change the pricing to reflect the nearest nickel. But even if that was
done, do you think the item that was originally $1.97 will then retail for $1.95?
Think again, it will never happen. In essence, Canadians are going to pay
more... on everything!
It's bad enough the government has forced us to carry around
these bulky Loonies and Toonies (which I personally find to be more of an
annoyance to cart around than a handful of pennies) but are now taking the
liberty of draining the last few 'cents' we strive to save on cash purchases. To
me— every penny counts!
Now, I would be the first to admit a "penny is a pain"
in reality. There are probably more of them in your change purse or wallet than
other coin denominations which isn't a problem until you accumulate too many of
them. That's when we find ourselves dumping the little coppers into a glass jar
or child's piggy bank, or depositing them into the 'Take-a-penny, leave-a-penny'
tray at the corner store.
Even though I can't remember the last time I dug around in
my wallet to find a penny or two to finalize a purchase or stooped down to
scoop one up that I spied dirt-covered on the ground, I do remember the good
times spent with my grandparents rolling them in brown paper, as well as
stacking them in more modern plastic tubes with my own grandchildren.
Speaking nostalgically,
* A
penny saved, is a penny earned.
* Find
a penny, pick it up. Pass it on, for good luck.
* A
man is like a penny, you always find them laying around (Had to add it!)
Last, but not least,
A PENNY FOR YOUR THOUGHTS?