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  1. #1
    Forum Frontman It's Mike's Avatar
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    Default Say goodbye to the Canadian penny

    In what can only be described as a horrible moment in world history, the Canadian penny is no more. We have stopped making them and retailers will start rounding to the nearest nickel. This will save us the costs of making them though (about 11 million a year). The nickel may be next. I figured you'd all want to know about this important historical event.

  2. #2
    Atomic Punk lovemachine97(Version 2)'s Avatar
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    Get rid of it all as far as Im concerned. I just tried to use a Canadian quarter at Disneyland the other day. It'll just help me avoid the conclusion.

  3. #3
    Atomic Punk Dave's Dreidel's Avatar
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    Wouldn't it just be simpler to get rid of Canada?
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  4. #4
    carpe damn diem billy007's Avatar
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    Default

    Quote Originally Posted by It's Mike View Post
    In what can only be described as a horrible moment in world history, the Canadian penny is no more. We have stopped making them and retailers will start rounding to the nearest nickel. This will save us the costs of making them though (about 11 million a year). The nickel may be next. I figured you'd all want to know about this important historical event.
    When you say "round to the nearest nickel", does,that mean if something totals $10.02, they'll round down to $10. And if it's $10.03, you'll pay $10.05, or will they always round up? It must be exciting news for anyone that has to balance a cash drawer at the end of their shift!

  5. #5
    Forum Frontman It's Mike's Avatar
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    Quote Originally Posted by billy007 View Post
    When you say "round to the nearest nickel", does,that mean if something totals $10.02, they'll round down to $10. And if it's $10.03, you'll pay $10.05, or will they always round up? It must be exciting news for anyone that has to balance a cash drawer at the end of their shift!
    up to the retailer. The govt has proposed for retailers to round to the nearest so 10.02 would round to 10.00. Looks like most of the retailers will take that suggestion.

  6. #6
    Hang 'Em High jetguy5150's Avatar
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    Quote Originally Posted by It's Mike View Post
    up to the retailer. The govt has proposed for retailers to round to the nearest so 10.02 would round to 10.00. Looks like most of the retailers will take that suggestion.
    We were discussing this last week. According to the Canada Revenue Agency it is not an option. .01, .02, .06, .07 round down. .03, .04, .08, .09 go up. Can't wait to see how this is going to work out.

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  7. #7
    Romeo Delight DMan7-cvh's Avatar
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  8. #8
    Outta Space Cowboy Scotty's Avatar
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    Quote Originally Posted by Dave's Dreidel View Post
    Wouldn't it just be simpler to get rid of Canada?

  9. #9
    Hang 'Em High jetguy5150's Avatar
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    Quote Originally Posted by Dave's Dreidel View Post
    Wouldn't it just be simpler to get rid of Canada?
    And then what? Turn it into one giant fast food joint?
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  10. #10
    Atomic Punk lovemachine97(Version 2)'s Avatar
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    So if you pay by card you could conceivably save a few cents here and there?

  11. #11
    Hang 'Em High jetguy5150's Avatar
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    Quote Originally Posted by lovemachine97(Version 2) View Post
    So if you pay by card you could conceivably save a few cents here and there?
    You may be on to something here. It only applies to cash purchases so if the total comes to a number that would be round up...you pay by debit or credit card and you pay the actual amount. If it comes to a number that would round down...you pay cash and save up to .2 cents. In the course of the year I could probably save $4 or $5!!!!
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  12. #12
    Forum Frontman fudd's Avatar
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    Mike I'm gonna pray on this and see what I can do.

  13. #13
    Atomic Punk bsbll4's Avatar
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    12.13.17 @ 08:45 AM
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    I saw a piece on this subject this morning. I was surprised to hear that something like 80% of Canadians don't even know it's happening. What was also very interesting is that retailers are spending hundreds of thousands of dollars each to update their cash registers and software. Multiply that out by the thousands of businesses and you are looking at a major cost outlay by the private sector. Surely that cost will be passed onto the consumer, so in the end, Canadians are paying for it either way--either privately or by taxes.

    It's Mike, you should tell the Canadian government you are going to round down your taxes this year.
    CNN may think my opinion matters, but you shouldn't.

  14. #14
    Baluchitherium sinner's swing's Avatar
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    12.12.17 @ 02:41 PM
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    Quote Originally Posted by lovemachine97(Version 2) View Post
    Get rid of it all as far as Im concerned. I just tried to use a Canadian quarter at Disneyland the other day. It'll just help me avoid the conclusion.
    What conclusion would you be avoiding? And if you meant confusion, what kind of confusion would you be avoiding? Same size, same shape, same worth.

  15. #15
    Baluchitherium sinner's swing's Avatar
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    Quote Originally Posted by Dave's Dreidel View Post
    Wouldn't it just be simpler to get rid of Canada?
    God DAMN, that's funny and original.

 

 

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