So long pennies; my two cents’ worth

So long, penny. Here in Canada, the government has decided to put you out of production – you cost 1.6 cents to make and so you just don’t make economic sense. As of Feb. 4, 2013, the Royal Canadian Mint has stopped making you.

Even though you clog up my purse, I’ll miss you.

You see, I can’t pass up a penny. Whenever I see one laying in the street, I pick it up.

“Find a penny, pick it up, and all day you’ll have good luck.” This rhyme is part of my inner dialogue. I know that, now the penny’s gone, when I see a nickel, say, on the ground, I’ll say to myself, “Find a nickel, pick it up …” but it won’t have the same ring. I’ll pick it up anyway.

Since the penny is only supposed to be good luck if you give it away, I always put whatever I find into a charity box if there’s nobody close by. Charities might miss these pennies, I think.

The penny is no longer being produced by the Royal Canadian Mint.

They were a very handy way of teaching kids how to count to ten – and then teaching them units of ten, leading up to 100 and $1, $10, $100 and so on. That just became a bit more difficult –  they’ll have to skip straight to the dime. How are parents going to explain that a dime is made up of ten cents? I’m glad my kid’s beyond that stage.

Now that the penny’s out of production, when we’re paying cash, stores will round up or down to the nearest 5 cents. So if the bill comes to $1.42, you’ll only pay $1.40; if $1.43, you’ll pay $1.45.

I guess that means, if my thoughts were once worth a penny, they’re worth nothing now. We have thought deflation. Which is kind of depressing when you think about it.

At least, that’s my two cents’ worth.

 

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10 comments

  1. I know that they’re talking about ditching US pennies, too – and yes, I think that will be very weird if and when it happens. I would miss them! You’ll have to keep us informed as to how it affects you over time! Oh, and I’m working on my Liebster blog post…finally!

    1. I’ll definitely do a follow-up post, Gretchen. It’ll be interesting to see how it plays out – and how businesses and banks handle it. Glad to hear about the Liebster post – looking forward to seeing it!

  2. Round down 😯 I don’t think so.

    1. Roy, I thought exactly the same thing! But I bought a coffee today and saved a whole 1 cent. It came to $1.51 and they only charged me $1.50. A penny saved is a penny earned or something like that …

      1. Good grief – unknown over this way after withdrawal of the farthing, ha’penny and penny, then decimalisation and further withdrawals. The smallest coin now is 5 pence, which is equivalent to 48 farthings 🙂

      2. Frankly, I never could figure out the farthing, ha’penny, etc., but that’s my North American brain. I’m surprised about the penny, though – didn’t know that had been taken out of circulation over there!

  3. I’ve never recovered from decimalisation in 1969 😦

    1. Ha! I hear you … although we decimalized over here much later than that 😉

  4. Oops sorry, what was I thinking of. The 1p and 2p are still in circulation here. Rarely used though so I guess it’s only a matter of time.

    1. Phew, I thought I’d missed something with the 1 and 2 p disappearing!

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