Contact Us

Canada Has Eliminated the Penny

Canada Penny
YouTube

Even stacked together in a jar, all those pennies you have are fairly worthless. However, they may soon become collectors’ items.

Canada, our neighbor to the North, has just eliminated the penny in their latest federal budget, following the example of nations like Australia and New Zealand. The Canadian national mint will stop producing the one-cent coin over the next six months, and businesses have been asked to return pennies to be melted down.

We thought it was a joke too, but apparently the Great White North is serious:

“Pennies take up too much space on our dressers at home,” Finance Minister Jim Flaherty said in announcing the federal budget. “They take up far too much time for small businesses trying to grow and create jobs.”

Not to mention they cost more than a cent to make, and the move will save Canada 11 million dollars a year.

With pennies no longer part of the equation, vendors will simply round to the nearest five or zero on the bill’s total.

And, from now on, Canada will be a place where thoughts cost a nickel. Watch Canadians react to the news that their government has rendered them “penniless” in the local news report below.

[via CBC]

More From Joy FM

Best of the Web

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://961joyfm.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on 96.1 Joy FM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Sign up for an account to comment, share your thoughts, and earn points to get great prizes.

Register on 96.1 Joy FM quickly by logging in with your Facebook account. It's just as secure, and no password to remember!