A penny dies a quiet death

Canada has made a bold and obvious decision and life seems to be going on just fine today. Canada is going to get rid of the penny.

It costs 1.6 cents to produce a penny in Canada and if there’s one thing Canadians appear to be good at, it’s math.

“Some Canadians consider the penny more of a nuisance than a useful coin. We often store them in jars, throw them away in water fountains or refuse them as change,” a government report said.

Case closed. No whining. No nostalgia. Just a business decision.

Why can’t the United States do that?

The U.S. penny costs 2.4 cents to make but a few congressional moves to get rid of the penny never got started because Americans are more emotional about these things, apparently. For one thing, Lincoln, one of the most beloved presidents, is on the penny. For another, Illinois, the land of Lincoln, takes these efforts as a personal attack.

  • Michael

    Lincoln’s on the five-dollar bill as well. If I have to choose, I’ll take the one that folds.

  • BenCh

    If Americans can’t even handle a switch to more energy efficient lightbulbs, I can’t see how anyone could handle getting rid of the penny.

    Side note- would this change at all how gas prices are displayed? ($3.899 to me is stupid)

  • Ed

    The penny and the nickel both need to go. I would be more inclined to pay cash without those two. This would save hundreds of millions of taxpayer dollars annually as well as roughly a half hour of time each month to the average consumer.

    There should be a law that prohibits higher minting costs than the value of the currency produced. That just seems like common sense to me.

  • http://ofbuckleyandbeatles.wordpress.com Drae

    I costs almost two and a half times as much to produce a coin than the coin is worth. Sounds like an apt metaphor for how the American government functions these days.

  • V

    I liked Canada’s move to get rid of the $1 and $2 bills and go with coins. May we learn from that.