General Discussion

pampango

(24,692 posts) Mon Feb 4, 2013, 03:17 PM Feb 2013

CBC: The death of the Canadian penny

Obituary: Canadian penny, 1858-2013
Royal Canadian Mint stops distributing the copper-coloured coin on Feb. 4

The penny's demise had been anticipated since March 29, 2012, when federal Finance Minister James Flaherty announced in the budget that his government had decided to phase out the smallest denomination of Canada's currency.

The Canadian penny traces its origins to 1858, when the then-province of Canada adopted the decimal system for its currency. Initially, it was struck at the Royal Mint in Great Britain. The 1858 penny had Queen Victoria on the obverse (or "heads&quot

side and a vine of maple leaves on the reverse (or "tails&quot

side.

Penny production moved to Canada in 1908, when the Ottawa branch of the British Royal Mint opened. Countess Grey, the wife of Canada's governor general at the time, struck the first penny at the mint's official opening on Jan. 2. Until 1997, the penny's composition was at least 95.5 per cent copper.

The year 2006 was a significant one for the Canadian penny, as it reached peak production. More than 1.26 billion pennies were minted that year. The last penny was minted in Winnipeg on May 4, 2012.

http://www.cbc.ca/news/canada/story/2013/01/31/f-penny-obit.html

Can the US penny be far behind?

18 replies

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CBC: The death of the Canadian penny (Original Post) pampango Feb 2013 OP

Can the US penny be far behind? Yes. gcomeau Feb 2013 #1

Well then I guess there will be a limit to how low they can pay us Duer 157099 Feb 2013 #2

Minimum wage in Ontario is $10.25...nt SidDithers Feb 2013 #6

"Canada adopted the decimal system for its currency" jberryhill Feb 2013 #3

I see what you did there. apocalypsehow Feb 2013 #4

But the US beat Canada in adopting the decimal system for its currency Art_from_Ark Feb 2013 #8

But we put "In God We Trust" on ours jberryhill Feb 2013 #9

And they put "D.G." (Dei Gratia) on theirs Art_from_Ark Feb 2013 #10

Well, there you are jberryhill Feb 2013 #11

We do, too Art_from_Ark Feb 2013 #12

Whose side are you on, son? jberryhill Feb 2013 #13

Son? Art_from_Ark Feb 2013 #14

Only if you take Canadian pennies jberryhill Feb 2013 #15

As long as they're exchangeable Art_from_Ark Feb 2013 #16

I'll pick up a fresh batch on February 5 from the Canadian mint jberryhill Feb 2013 #17

I Guess There Won't be Any More $NN.99 Sales or Prices. dballance Feb 2013 #5

No. It just means that totals will be rounded to the nearest nickel... SidDithers Feb 2013 #7

Message auto-removed Name removed Jun 2013 #18

gcomeau

(5,764 posts)

1. Can the US penny be far behind? Yes.

Reply to pampango (Original post)

Mon Feb 4, 2013, 03:21 PM

Feb 2013

Canada scrapped dollar bills in favor of dollar coins 25 years ago, how's that transition coming along in the US?

And don't make me bring up the metric system...

Duer 157099

(17,742 posts)

2. Well then I guess there will be a limit to how low they can pay us

Reply to pampango (Original post)

Mon Feb 4, 2013, 03:21 PM

Feb 2013

At least the new minimum wage will have to be limited at 5cents.

SidDithers

(44,228 posts)

6. Minimum wage in Ontario is $10.25...nt

Reply to Duer 157099 (Reply #2)

Mon Feb 4, 2013, 04:35 PM

Feb 2013

Sid

jberryhill

(62,444 posts)

3. "Canada adopted the decimal system for its currency"

Reply to pampango (Original post)

Mon Feb 4, 2013, 03:40 PM

Feb 2013

And there you see how it works.

First, the metric system. Then, taking God out of schools. And eventually, they get our guns!

apocalypsehow

(12,751 posts)

4. I see what you did there.

Reply to jberryhill (Reply #3)

Mon Feb 4, 2013, 03:44 PM

Feb 2013

Art_from_Ark

(27,247 posts)

8. But the US beat Canada in adopting the decimal system for its currency

Reply to jberryhill (Reply #3)

Tue Feb 5, 2013, 01:44 AM

Feb 2013

Canada was a Johnny-come-lately, adopting the decimal system a full 65 years after the United States Mint introduced its dollar that was based on 100 cents or 10 "dismes"

jberryhill

(62,444 posts)

9. But we put "In God We Trust" on ours

Reply to Art_from_Ark (Reply #8)

Tue Feb 5, 2013, 08:47 AM

Feb 2013

So that keeps us safe.

Art_from_Ark

(27,247 posts)

10. And they put "D.G." (Dei Gratia) on theirs

Reply to jberryhill (Reply #9)

Tue Feb 5, 2013, 08:50 AM

Feb 2013

which means that Elizabeth II is queen "by the grace of God".

jberryhill

(62,444 posts)

11. Well, there you are

Reply to Art_from_Ark (Reply #10)

Tue Feb 5, 2013, 08:52 AM

Feb 2013

They even put a foreign language on their currency.

Art_from_Ark

(27,247 posts)

12. We do, too

Reply to jberryhill (Reply #11)

Tue Feb 5, 2013, 08:58 AM

Feb 2013

E Pluribus Unum

jberryhill

(62,444 posts)

13. Whose side are you on, son?

Reply to Art_from_Ark (Reply #12)

Tue Feb 5, 2013, 09:05 AM

Feb 2013

#t=49s

Art_from_Ark

(27,247 posts)

14. Son?

Reply to jberryhill (Reply #13)

Tue Feb 5, 2013, 09:11 AM

Feb 2013

Is that you, Dad? The guy who deserted my mom back in 1962? If you are, we would like to talk to you about some back alimony!

jberryhill

(62,444 posts)

15. Only if you take Canadian pennies

Reply to Art_from_Ark (Reply #14)

Tue Feb 5, 2013, 09:13 AM

Feb 2013

Art_from_Ark

(27,247 posts)

16. As long as they're exchangeable

Reply to jberryhill (Reply #15)

Tue Feb 5, 2013, 09:15 AM

Feb 2013

The way we figure it, "Dad" owes a *minimum* of $40,000, and that is based on 1962 prices!

jberryhill

(62,444 posts)

17. I'll pick up a fresh batch on February 5 from the Canadian mint

Reply to Art_from_Ark (Reply #16)

Tue Feb 5, 2013, 09:17 AM

Feb 2013

Consider it done.

dballance

(5,756 posts)

5. I Guess There Won't be Any More $NN.99 Sales or Prices.

Reply to pampango (Original post)

Mon Feb 4, 2013, 04:33 PM

Feb 2013

So yes, it does beg the question. Now I guess all the retailers and anyone else who sells things will have to price them in increments of five cents.

SidDithers

(44,228 posts)

7. No. It just means that totals will be rounded to the nearest nickel...

Reply to dballance (Reply #5)

Mon Feb 4, 2013, 04:38 PM

Feb 2013

an item might still be $12.99 plus 13% sales tax = $14.68 total.

Most stores are rounding down, so $14.68 becomes $14.65.

I don't think retailers will give up the psychological impact of a $xx.99 price on an item.

Sid

Response to pampango (Original post)

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