jesseps Posted October 4, 2007 Share Posted October 4, 2007 Would you really care, if government stopped minting these coins or keeping them in circulation? Link to comment Share on other sites More sharing options...
MTLskyline Posted October 4, 2007 Share Posted October 4, 2007 In fact, I think they should do away with nickels as well and round everything to the nearest dime. Either that or revalue our dollar by a factor of 10. This would mean that a penny has the value of 10¢, 10¢ has the value of a dollar, etc. A $5 million dollar contract in hockey would be $500,000. New cars would cost about $2000. Sure people might not like that they make 10x less, and they have 10x less savings, but everything would be worth 10x less. Link to comment Share on other sites More sharing options...
WestAust Posted October 4, 2007 Share Posted October 4, 2007 In fact, I think they should do away with nickels as well and round everything to the nearest dime. Either that or revalue our dollar by a factor of 10. This would mean that a penny has the value of 10¢, 10¢ has the value of a dollar, etc. A $5 million dollar contract in hockey would be $500,000. New cars would cost about $2000. Sure people might not like that they make 10x less, and they have 10x less savings, but everything would be worth 10x less. This is not necessary, prices are not over excessive in terms of digits, we don't pay a small car 16 million dollars. It would be complicated, confusing and unecessary. Link to comment Share on other sites More sharing options...
jesseps Posted December 14, 2010 Author Share Posted December 14, 2010 The Senate’s finance committee is to introduce its recommendation on Tuesday on whether the country should abandon the penny, with media reports suggesting the one-cent coin will be discarded. In April, the committee was charged with investigating the penny’s usefulness, with the coin characterized by some as no longer necessary to the modern economy because the cost to produce it exceeds its financial value. During hearings held in October, representatives from the Bank of Canada, a number of industries, consumer groups, and charities all told the committee that they wouldn’t miss the penny if it were discontinued. A Canadian Press report, attributed to unnamed sources, said the committee was set to recommend just that, citing evidence that over time, inflation has rendered the penny needless. New Zealand and Australia have ditched their pennies, and New Zealand has even abandoned its five-cent piece. Neither country experienced much in the way of economic fallout afterward. (Courtesy of The Montreal Gazette) Link to comment Share on other sites More sharing options...
MTLskyline Posted December 14, 2010 Share Posted December 14, 2010 I can't stand receiving a bunch of pennies back at the cash register.... Link to comment Share on other sites More sharing options...
Habsfan Posted December 14, 2010 Share Posted December 14, 2010 Get rid of it. Round everything up (or down) to the nearest 5¢ value. Link to comment Share on other sites More sharing options...
JFrosty Posted December 14, 2010 Share Posted December 14, 2010 I agree that they're mostly useless to everyone. Link to comment Share on other sites More sharing options...
Cyrus Posted December 14, 2010 Share Posted December 14, 2010 Can we get back the $1000 bill? It is really inconvenient to carry a lot of cash these days... Link to comment Share on other sites More sharing options...
jesseps Posted December 14, 2010 Author Share Posted December 14, 2010 Can we get back the $1000 bill? It is really inconvenient to carry a lot of cash these days... Isn't there a few still in circulation? Link to comment Share on other sites More sharing options...
WestAust Posted December 14, 2010 Share Posted December 14, 2010 Can we get back the $1000 bill? It is really inconvenient to carry a lot of cash these days... I would start by forcing shop owners to accept 50$ and 100$ bills before considering a return of the 1000$ which is most of the time, useless. Considering that 50$ isn't what it used to be, youfill up your car and it's more than 50$, yet most gaz station don't accept bills larger than 20$, that bill usage should be more frequent Link to comment Share on other sites More sharing options...
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