Canadian govt to stop producing 1 cent coins

[Freamon]

Bugger!

Only in Hounslow:

[Paddy]

Bugger!

[wim121]

This is week old news. The reason they stated why they were getting rid of it is that it costs more than a cent to create a cent.

[AtW]

That's clear sign of inflation - money losing their value, soon it will be like in Soviet Russia - regular denominations (if you ever heard that term).

[TimberWolf]

Sound centisible. More money than cents, Canadians don't make cents, etc.

[Freamon]

Real inflation news:

https://www.theglobeandmail.com/news...rticle2386120/

Canada is scrapping the penny, ending production this year of a coin that weighs down consumers’ pockets while adding little to their purchasing power.

The government announced in Thursday’s federal budget that it will shortly jettison the one-cent coin – a casualty of Ottawa’s drive for efficiency and thrift.

...

The increasing scarcity of pennies means Canadians will have to get used to cash transactions being rounded off if they’ve got no pennies on hand.

Ottawa is suggesting businesses round off cash transactions to the nearest five-cent increment but says it’s leaving this to businesses to work out for themselves.

This rounding off would occur after taxes had been applied to the purchase and would not be necessary for credit or debit transactions.