Abandon the Penny, Senate Finance Committee Urges

December 15, 2010
Article Written by: Carmen Chai

http://www.vancouversun.com/business/Abandon+penny+Senate+finance+committee+urges/3979376/story.html

          The economy today and costs of producing a penny costs more than the actual penny itself. I agree that the penny should be “abandoned”. It does nothing more than take up space in peoples wallets and serve no function to be a nuisance. Most people don’t take the time to count out pennies when paying for something, and if they happen to fall on the ground, people just leave them. There is no point in bending down to pick it up, it isn’t worth it. Pennies usually end up in couches, under vending machines and found pretty much anywhere on the streets. New Zealand and Australia have already “ditched” the penny and even their “five-cent” piece. I think that if we rid ourselves of the Canadian penny then we will be different than the United States, I mean, we don’t want to be like them do we? I’m not sure why the Government of Canada is so hesitant to remove the penny from production. We can’t have financial problems if we dispose of the penny because it is not worth enough to do any damage. If the penny is removed from “circulation” then the salespeople will round up the prices of items to the nearest five-cent. The “eight recommendations” the government press has released are quite reasonable and people should have no problem with any of them. Years from now the penny will probably become a collector’s item, and so the value of the penny will be on the rise again, but for now I think it’s time that we say good-bye to the Canadian penny.

Is it time to say goodbye to the Canadian Penny?