Thursday, March 29, 2012

No more penny!

Did you know Canada..  annouced in today's Budget, Canada will no long be minting the penny!

$1.02 will become $1 and $1.03 will be $1.05.

If you have them in your pocket they will still be legal tender and you will be able to use them, but there will not be any more introduced into circulation by this fall.

We've mentioned before that it actually costs more to make the penny than it's worth! Other countries including Australia and New Zealand have already gotten rid of their penny.

Kind of exciting, a new age! What do you think about kicking the penny to the curb??

Edited to clarify this is for CASH transactions, Canadians who use credit or debit cards to make purchases won’t have to worry about rounding-off.

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