View Single Post
Old 02-04-2013, 06:56 PM
Bruce M. Thomson's Avatar
Bruce M. Thomson Bruce M. Thomson is offline
Silver Member
Join Date: Jul 2006
Location: Toronto,ON Canada
Posts: 988
Default Re: Today Canada Officially Retires the Penny

Originally Posted by wsabol View Post
I feel that its inevitable to a certain extent. As the market continues to inflate money, the smaller denominations will be worth less and less until the have no effective value. Back in the day when a dime was a doughnut and a coffee, pennies had some clout. But nowadays most people could cares less about 10 cents, let alone 1. I heard a while ago that the US has talked about doing this as well, but who knows.
Might be a harder sale in the US, the governments have resisted changing the bills from the mono coloured green to a variety such as we and most European countries use.
A lot of people have made fortunes on pennies in the US as well. You are right though; the saying save your pennies and the dollars will take care of themselves is pretty much out of date.
Reply With Quote