Once Again, Canada is Ahead of the US

Canada announced that they are bagging the "penny" - something that the US cannot decide to do even though it costs about 2.4 cents to produce each US penny:
http://economywatch.msnbc.msn.com/_news/2012/03/30/10941329-canadians-say-goodbye-or-adieu-to-the-penny

CheenaGringo wrote:Canada announced that they are bagging the "penny" - something that the US cannot decide to do even though it costs about 2.4 cents to produce each US penny:
http://economywatch.msnbc.msn.com/_news/2012/03/30/10941329-canadians-say-goodbye-or-adieu-to-the-penny

I'm not surprised that Canada is ahead of the US. Just shows how dumb the US is sometimes.

Why the difference? Here, in Canada, it costs 1.5 cents to produce a penny. In the US 2.4 cents (apparently). More copper in the US penny? Experienced the averaging up and down thing in NZ in 2000. If the item was 1.02 it became !.00. If 1.03 then 1.05. This was for cash. Digitally, transactions retained the penny thing. Inflation wise, over the years, we might as well loose the nickel (5 cent coin- as well). Sad, in a way. I can remember when I could get over the top - sugarwise- for a quarter. For us gringos/as $1 just doesn't have much punch anymore. Give a Mx kid P10 and watch them light up. In reality, if poor, they'd probably hand it over to Mom.