"I was in Vancouver last week for a couple of days and I went out of my way to not spend any cash. I paid for my hotel with a credit card, used a cell phone for a cup of coffee at Starbucks, and walked to a meeting so I wouldn’t need to pay for a taxi. I didn’t want the hassle of trying to spend my Canadian dollars at the last minute; I usually end up with Canadian coins with no recourse other than to “collect” them.

But staying cashless in Canada meant I missed out on the last penny. As of today, the Canadian mint will no longer make the penny. People won’t be able to use that coin at the store for purchases. Instead the clerks will round up or down the sale price to the nearest nickel. (Credit card or check purchases will still be the exact amount.)

I have been writing a lot about saving programs from the budget axe. This is a good example of something that would be easy to do, save a significant sum of money, and send a signal that it’s OK to end traditions of the past."

Get the Story:
A (Canadian) penny for your thoughts (Mark Trahant 2/4)

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