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12-14-2010, 09:41 PM
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Join Date: Oct 2008
Location: In the shadow of the Valhalla Mountains, BC .
Posts: 9,175
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Penny for your thoughts ... should our Penny be retired?
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12-14-2010, 09:47 PM
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Join Date: May 2007
Location: Calgary
Posts: 11,576
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Trigs, I'd rather see the 'Senate Finance Committee' retired first. Kind of a two pronged approach to saving pennies. 
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12-14-2010, 09:50 PM
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Join Date: Feb 2010
Location: Red Deer
Posts: 2,629
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The penny should of been retired years ago, my night stand is full with them things.
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12-14-2010, 10:10 PM
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Join Date: Oct 2008
Location: In the shadow of the Valhalla Mountains, BC .
Posts: 9,175
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Quote:
Originally Posted by TreeGuy
Trigs, I'd rather see the 'Senate Finance Committee' retired first. Kind of a two pronged approach to saving pennies. |
Tree, you'll get no argument from me on that ^ one ... I'd like to see the whole *&^%$#@ Senate retired. Think of the 'bazillion' pennies that would save us each day! Food for another thread 
Quote:
Originally Posted by sewerrat
The penny should of been retired years ago, my night stand is full with them things.
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No argument there ^ either ... my take on it is that it should have been done about 10 years ago!
TF
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12-14-2010, 11:54 PM
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Banned
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Join Date: Dec 2009
Posts: 2,075
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Stores are arguing it will screw up their $19,99 sale prices. 
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12-15-2010, 12:01 AM
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Join Date: Jan 2008
Location: Edmonton, AB
Posts: 16,986
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I miss the paper $1 and $2`s  Wish i could retire 
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Alberta Bigbore
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12-15-2010, 06:21 AM
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Join Date: Nov 2008
Location: Mons Lake
Posts: 2,262
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In my opinion anyone who thinks the penny should be retired doesn't work hard enough for their money.
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12-15-2010, 06:22 AM
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Join Date: Dec 2007
Location: Claresholm, Ab
Posts: 4,022
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Pennies are a pain but I'll make y'all a little side bet, all prices will be rounded up not down and most likely to the nearest dime not nickel
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12-15-2010, 07:00 AM
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Join Date: Jul 2010
Location: Calgary
Posts: 9,599
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Quote:
Originally Posted by sewerrat
The penny should of been retired years ago, my night stand is full with them things.
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Well if you dont want your pennies my son will happily come take them from you or anyone else.
He loves counting them.
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12-15-2010, 07:05 AM
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Join Date: Nov 2008
Location: Mons Lake
Posts: 2,262
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Quote:
Originally Posted by Taco
Pennies are a pain but I'll make y'all a little side bet, all prices will be rounded up not down and most likely to the nearest dime not nickel
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Exactly, this is why I said what I said above. Prices will only go up, I like what I do but I don't want to work any harder because people with to much money don't want to deal with the lowly penny. Use your bankcard if the penny is to much hassle.
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12-15-2010, 07:19 AM
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Join Date: Oct 2009
Posts: 1,241
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I wonder how much extra money will go to Revenue Canada when you round out the tax to 5 cents.
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12-15-2010, 07:42 AM
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Banned
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Join Date: Feb 2010
Location: Canyon Meadows, Calgary
Posts: 655
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Quote:
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The Canadian penny costs at least $130 million annually to keep in circulation...According to a 2007 survey, only 37 percent of Canadians use pennies, but the government continues to produce about 816 million pennies per year, equal to 25 pennies per Canadian.
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Yeah.....great idea to keep the penny around. 
Get rid of it. When cleaning up my car, any pennies get thrown into the garbage.
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12-15-2010, 07:47 AM
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Join Date: May 2007
Posts: 5,412
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I wonder how hard this will hit the charities?
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12-15-2010, 07:49 AM
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Join Date: Mar 2008
Location: Sylvan Lake
Posts: 3,427
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Quote:
Originally Posted by Taco
Pennies are a pain but I'll make y'all a little side bet, all prices will be rounded up not down and most likely to the nearest dime not nickel
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Being in sales I think it will be rounded down from 99 to 95. 19.95 just sells better than 20.00 because it looks so much cheaper.
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12-15-2010, 08:10 AM
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Banned
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Join Date: Feb 2010
Location: Canyon Meadows, Calgary
Posts: 655
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Quote:
Originally Posted by 209x50
I wonder how hard this will hit the charities?
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Seems they're on the side of getting rid of it too.
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Charitable organizations, such as the Salvation Army, even testified that rolling pennies was time consuming and most Canadians were turning to making donations with their debit cards.
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just like the British "half-penny" over stayed its use, so goes the "penny".
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12-15-2010, 08:12 AM
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Join Date: Nov 2007
Posts: 1,721
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Quote:
Originally Posted by Enigma
. When cleaning up my car, any pennies get thrown into the garbage.
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Sommehow this doesn't surprise me. It's kinda like how some people feel about the animals they hunt. Not a lot of respect shown if you ask me.
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12-15-2010, 08:16 AM
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Join Date: Apr 2008
Location: Airdrie
Posts: 514
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No loss as far as i'm concerned. I usually end up throwing them out or away as well. Charities won't mind them going either since they will end up with the higher denomination coins and not have to count the pennies that everyoneelse isgetting rid of.
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12-15-2010, 08:20 AM
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Join Date: May 2007
Location: Uh, guess? :)
Posts: 26,739
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Probably... I think it presumptuous when some clerk asks "Do you want your pennies back?" I like to reply "Why, does McDonalds really need them?". But it IS a sign that a lot of people don't even bother with them anymore. I could do without them.
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12-15-2010, 08:22 AM
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Join Date: Nov 2008
Location: Aridzona
Posts: 3,456
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Well, thanks to all the people that throw pennies on the ground, I usually have enough to cover my Tim Horton's coffee.
I don't throw money away, even pennies. Money is money. I'm on the fence about getting rid of them, though sentimentality wants to say keep 'em.
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12-15-2010, 08:30 AM
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Banned
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Join Date: May 2007
Posts: 17,790
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old saying
Like my boss used to say to me..."Look after the pennies and the dollars will take care of themselves."
How about the senate just arbitrarily makes the penny worth say...a hundred bucks? Lot's of instant millionaires would be created.
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12-15-2010, 08:48 AM
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Join Date: May 2007
Posts: 5,412
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NZ got rid of the penny and nickle quite a while ago.
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12-15-2010, 10:44 AM
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Join Date: May 2010
Location: Trinity bay newfoundland
Posts: 2,872
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The cost of living well go up,its a win ,win for the feds,,a tims extra large D D $1.79 ,ever thing well get rounded of to the nearest dollar and it well be up not down,,,,,,,,,,,time to get of the grid.
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12-15-2010, 01:09 PM
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Banned
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Join Date: Feb 2010
Location: Canyon Meadows, Calgary
Posts: 655
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Quote:
Originally Posted by great white whaler
The cost of living well go up,its a win ,win for the feds,,a tims extra large D D $1.79 ,ever thing well get rounded of to the nearest dollar and it well be up not down,,,,,,,,,,,time to get of the grid.
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How on earth do you come to the conclusion that a $1.79 coffee will be rounded up to the nearest dollar??? The logical price would be $1.80. GST would add .09 bringing the new penniless price to $1.90. An item that was $1.49 plus GST brings the actual price to $1.56 which would then be rounded down to $1.55. It would all balance out at in the end.  what's the problem?
This whole discussion has been hashed out here before. In fact BY the same OP. (is that called a natural repost? Either that or Alzheimers) http://www.outdoorsmenforum.ca/showthread.php?t=60787
All the same arguments. Nothing new.
Last edited by Enigma; 12-15-2010 at 01:22 PM.
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12-15-2010, 06:21 PM
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Join Date: Jun 2009
Posts: 765
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The true problem is that the governments of the world by not having money backed by anything tangible have stolen the value of the penny to the point that it has become worthless. Gold Silver Copper in a ratio of value are at the same value today as they were probably a thousand years ago yet because our politicians can't promise to the voters that which they don't have they then have to unlink the currency to those very metals. If this is the direction we are going than just find the cheapest produced means of currency and go with that. Unfortunately every year that passes where governments just produce more paper money out of thin air just means we're one year closer to the time when we Have to go back to using a "Copper" penny.
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12-15-2010, 06:37 PM
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Join Date: May 2007
Location: Uh, guess? :)
Posts: 26,739
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Quote:
Originally Posted by Enigma
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LOL holy smoke! TRUE! Same OP, same question, even almost the same phrasing!
I can now report, however, that I appear to have changed my mind on this issue! LOL
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12-15-2010, 06:53 PM
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Join Date: Aug 2009
Location: The middle of nowhere!
Posts: 83
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Rfid
Just plant the chip in my arm now and be done with it! 
Work can put my cheque into my account, and then I can go anywhere and just swipe my wrist across the "Quick Pay" and walk out. 
Can you say cashless, I knew you could. Of course this would save all of those kids from having to figure out how to make small change. 
That's my cent and a half worth on the subject.
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So there....... 
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12-15-2010, 07:15 PM
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Join Date: May 2007
Location: Edmonton
Posts: 369
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Quote:
Originally Posted by TriggerFinger
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I'll sey ... OK! To make a penny cost 1.5 pennies. No problems with me. I'll keep some for memories. Life is going on, new generation is coming, time to get rid of some old costly habits 
Now tell us what you will say?
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12-15-2010, 07:31 PM
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Join Date: Aug 2009
Location: The middle of nowhere!
Posts: 83
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Cost saving plan
Maybe if it takes 1.5 cents to make each one of these, the government could offer us a 10%-20% premium to bring all of ours in?
That would cost them $1.20 instead of $1.50! And according to the article mentioned in the first post, each of us has approximately $6.00 hidden in our cushions somewhere, that would be $7.20 with the premium. 
No rounding necessary!
Can we turn all of the politicians in too? :sHa_sarcastic lol:
That would have to save us poor people even more $$$$$$$$$$$.
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So there.......
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12-15-2010, 07:52 PM
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Join Date: Nov 2009
Location: Eckville
Posts: 438
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I think we should just look at the penny itself and make it out of a cheaper metal, cardboard for all i care. Just get the cost par and keep the penny around
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12-15-2010, 08:06 PM
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Join Date: Jun 2009
Posts: 765
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Quote:
Originally Posted by go-big-or-go-home
I think we should just look at the penny itself and make it out of a cheaper metal, cardboard for all i care. Just get the cost par and keep the penny around
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What happens when cardboard pennys cost more to make than they are worth?
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