Penny For Your Thoughts? Not For Long: Canada Discontinues Penny ProductionElizabeth Entenman

Canada recently stopped minting pennies, following in the footsteps of other countries including Australia, Norway and Sweden, to name a few. Why? Pennies are worth less than they cost to make! Don’t get me wrong, I love Pennys. But honestly, the pennies I’m talking about are kind of a nuisance. They’re bigger than dimes, but worth less. (While we’re changing things, can we make dimes bigger? Their size-to-value ratio is pretty off.)

What does this mean for Canada? For starters, prices of cash transactions will be rounded up to the nearest nickel. But remember: it’s only money. So, Canada, it’s time to make your wishes, scratch your lottery tickets and do your coin tosses with a new form of currency. America, stock up, because it’s only a matter of time until we give up on the penny, too.

Not ready to let go of your cents just yet? Here’s a list of practical uses for pennies, besides spending them, thanks in part to Real Simple and Freakonomics.

Straighten Your Curtains: Open up the hem, stick a few pennies in, sew it back up and voila: your curtains will hang smoothly.

Check Your Tire Treads: Place a penny head-down in your tire tread grooves. If you can see Lincoln’s whole head or any of the “In God We Trust” inscription above his head, it’s time to replace your tires.

Anchor That Wobbly Table: Do you always get seated at the wobbly table? Me, too. (What is that about, anyway?) Put a coin under the table leg to balance things out. Runner up: also works under a wobbly vase.

Play Penny Slots: Okay, technically most slot machines don’t take coins anymore. But the fun and sentiment of placing a one-cent bet is still there.

Doubles as a Screwdriver: Have a bolt, but no screwdriver? No problem, because you’ve got a penny.

Create a Penny Floor: It’s just about 250 pennies per square foot. A new floor that looks awesome for just $2.50 a square foot? Yes, please. Just add grout.

Put ‘em in Your Loafers: That slot on your penny loafers? Slip a penny in. Just like in the good ol’ days.

Donate Them: If we all turn all of our pennies over to charity, we probably won’t miss them – but a lot of people will be grateful.

Featured image via ShutterStock

comments

Please help us maintain positive conversations by refraining from posting spam, advertisements, and links to other websites or blogs. we reserve the right to remove your comment if it does not adhere to these guidelines. thanks! post a comment.

  1. Yeah they are sometimes rounded down. I’m Canadian, living in Australia and the monetary situation here is spectacular and I’m glad Canada is following suit: Plastic money? Check. No pennies? Check.

    Here are some other things Canada could follow the Aussies in: 50 cent coin, having 90% of prices end in .00 or .50, and finally including taxes in the price of items i.e. if something says it costs $3.50 you actually pay $3.50 instead of $5.28, or if all your clothes add up to $85 dollars, you don’t end up paying $119.37. You don’t have to widely over estimate the price with tax.

  2. Actually they’re only rounded up if they end in 3,4,6,7, otherwise they’re rounded down. It’s also only rounded if you can’t pay the exact price aka you don’t have any pennies.