The last-ever penny will be minted today in Philadelphia

(www.cnn.com)

460 points andrewl | 1 comments | 12 Nov 25 16:10 UTC | HN request time: 0.198s | source

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nayuki ◴[12 Nov 25 16:41 UTC] No.45902294[source]▶

>>45901904 (OP) #

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).

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SoftTalker ◴[12 Nov 25 17:48 UTC] No.45903233[source]▶

>>45902294 #

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?

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1. HarHarVeryFunny ◴[12 Nov 25 18:40 UTC] No.45904057[source]▶

>>45903233 #

So how would you propose paying for something that cost $0.40, or would you just like to see all prices be multiples of 25c?

BTW, the reason for wanting to get rid of the penny isn't so much the low purchasing value, but more that they cost more to make (~4c) than their face value, so the government loses money making them. The same is true of nickels.

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