←back to thread

The last-ever penny will be minted today in Philadelphia

(www.cnn.com)
334 points andrewl | 1 comments | 12 Nov 25 16:10 UTC | HN request time: 0s | source
Show context
nayuki ◴[12 Nov 25 16:41 UTC] No.45902294[source]▶
We eliminated pennies in Canada in 2012 and the transition was a non-issue. The vast majority of retailers would round cash transactions to the nearest $0.05, but a few would round down to the nearest $0.05 in favor of the customer. https://en.wikipedia.org/wiki/Withdrawal_of_low-denomination...

Canadian cash is better than American cash in several ways: No penny, durable polymer banknotes (instead of dirty wrinkly cotton paper), colorful banknotes (instead of all green) that are easy to distinguish, $1 and $2 coins in wide circulation (instead of worn-out $1 bills).

replies(19): >>45902306 #>>45903233 #>>45903260 #>>45903385 #>>45903401 #>>45903410 #>>45903530 #>>45903652 #>>45903696 #>>45903720 #>>45903737 #>>45903848 #>>45903857 #>>45904034 #>>45904111 #>>45904341 #>>45904360 #>>45904561 #>>45905087 #
SoftTalker ◴[12 Nov 25 17:48 UTC] No.45903233[source]▶
I honestly don't know why we don't get rid of nickels and dimes as well. What can you still buy that costs less than $0.25?
replies(5): >>45903279 #>>45903307 #>>45903316 #>>45903459 #>>45904057 #
1. phantasmish ◴[12 Nov 25 17:53 UTC] No.45903316[source]▶
When we got rid of the half-penny, it was worth more in 2024 cents than the dime is now.

We waited so long past when we should have gotten rid of the penny that now a coin ten times as valuable is also worthless enough that we ought to get rid of it.