So many people don't understand how this is going to work. Prices won't change. Many of them will still end in 9, like $1.29 or $2.99 or $4.49, as they are now.
Like another commenter here, I was in Australia and I saw that the transition was very simple, with no impact on the bottom line for consumers. It was a huge benefit to consumers and business. NOBODY complains about the lack of one cent coins there now.
Here are some examples.
· If you are paying cash with two toonies ($4) and if your TOTAL bill including tax comes to #3.75, $3.76, or $3.77, then your change will be $0.25. (You get up to $0.02 extra, for free.)
· If you are paying cash with two toonies ($4) and if your TOTAL bill including tax comes to $3.78, $3.79, or $3.80, your change will be $0.20. (The merchant gets a maximum of $0.02 extra.)
· The extra on each side averages out to roughly zero over multiple purchases.
· None of this will have any effect on credit/debit purchases.
Now another thing we could do in Canada that would really help everyone is to include tax in prices: we waste so much time adding it at the time of purchase.
christy - 12 years ago
I lived in Australia, working in retail, when they phased out the one and two cent coins. It wasn't a problem at all, and I'm surprised it's taken this long for Canada to follow suit.
Times change, and I can't stand the idea of our government wasting money on producing pennies.
As a business owner, it wouldn't take me long to phase out something that had exceeded its usefulness.
Imagine if we still had half-pennies!
dayna - 12 years ago
save the penny! the government just keeps stealing from us, soon there will be no middle class it will be rich and poor just like back in the day. I expect my penny when i get my change. its an excuse to keep raising the prices on everything!
Jess - 12 years ago
The penny was amazing and still is... now we have something amazing to give our children and grand children but what about all those sayings like " A penny for your thoughts" or " Penny pinchers"? Also why can't we just make pennies out of something else? Another very important reason is that our maple leaf is on the penny, it is a symbol of Canada.
Sherry - 12 years ago
Prices will NOT go up by a simple penny....right now the HST is set at 13% (pennies involved in every transaction)....so it not only effects your cost of a coffee once a day at Timmys.....your hydro...your gas...gas for your car.....insurance....groceries....mortgage payments....phone bills....cable...every other day to day living expense..........NOW take a look at your monthly bills.....do they realy cost an even dollar amount...ends in a change amount that is exact 5 cents..or 10 cents.....BEFORE the HST is added?...whats the total AFTER HST.......now take all those bills and round them UP.....how much more each month is this going to cost you? .....and you think this illustrous government is doing a fine fucking job?
dwayne - 12 years ago
Go a bit further... change the base currency to a dime, using 1 decimal point, for ease of calculation.
Richard - 12 years ago
First the penny then the nickel...where does it stop?
Debbie - 12 years ago
It is the best thing they could do who cares if prices get rounded up we live with price adjustments every day
Lori - 12 years ago
Retailers will not have different prices for cash. How would a department store try and identify theft from their employees? Each time a round off happens, the employee could simply pocket it. They wont do tis. They'll simply up the final price to the next 5 cents.
Straight from the wholesaler, then all the middlemen, shipping. Each level will be raised, to deal with all the costs THEY need to cover. ultimately hurting the consumer who will have less to spend, thus hurting the economy....... Round, round we go......
Are we all still just gonna be a bunch of sheep?
Rick - 12 years ago
Makes great sense (no pun intended). Most everything I pay for is done electronically anyway so nothing changes there. Wasn't aware that Australia and New Zealand have gone even further with their currency changes, good for them. If everyone rounds up or down according to the rules it will all come out just about even anyways! I winter in Arizona and in the States they still have a dirty one dollar bill which is a pain to deal with. They have a dollar coin but don't appreciate the advantages. Talk about savings potential down here being wasted!
Victor Ja - 12 years ago
No Likey!!! Do we have to do what we are told to do in this elected police-state we call Canada! Will we have to change the adage "Watch your pennies and dollars will watch themselves" to "Watch your dollars as they are forcibly taken away like your pennies were?" Quite the tactic to distract the general population from real social/political/economical issues that this budget holds.
Patrick - 12 years ago
It angers me. It has always been there, they ain't got no right to pase it out. I've always used them will continue todo so. When there'll be no more I'll continue with American pennies. They ain't gonna take that away from me!
Trevor - 12 years ago
I agree that this is a good thing, but if people are worried about rounding up for a few cents they have more problems. Plus more than 50% of all transactions are electronic now.
Gusto - 12 years ago
You will still be able to use your pennies, but for me I am very grateful they stop using it. I will collect them so they become extinct even faster!
Sarah - 12 years ago
But, think of how much lighter our pockets will be!
julian - 12 years ago
It is not true because if one product cost 1 cent more, and the supermarket will go up the price by 4 cents,!!!
arnold - 12 years ago
out of penny means all prices will go up by 1 penny
So many people don't understand how this is going to work. Prices won't change. Many of them will still end in 9, like $1.29 or $2.99 or $4.49, as they are now.
Like another commenter here, I was in Australia and I saw that the transition was very simple, with no impact on the bottom line for consumers. It was a huge benefit to consumers and business. NOBODY complains about the lack of one cent coins there now.
Here are some examples.
· If you are paying cash with two toonies ($4) and if your TOTAL bill including tax comes to #3.75, $3.76, or $3.77, then your change will be $0.25. (You get up to $0.02 extra, for free.)
· If you are paying cash with two toonies ($4) and if your TOTAL bill including tax comes to $3.78, $3.79, or $3.80, your change will be $0.20. (The merchant gets a maximum of $0.02 extra.)
· The extra on each side averages out to roughly zero over multiple purchases.
· None of this will have any effect on credit/debit purchases.
Now another thing we could do in Canada that would really help everyone is to include tax in prices: we waste so much time adding it at the time of purchase.
I lived in Australia, working in retail, when they phased out the one and two cent coins. It wasn't a problem at all, and I'm surprised it's taken this long for Canada to follow suit.
Times change, and I can't stand the idea of our government wasting money on producing pennies.
As a business owner, it wouldn't take me long to phase out something that had exceeded its usefulness.
Imagine if we still had half-pennies!
save the penny! the government just keeps stealing from us, soon there will be no middle class it will be rich and poor just like back in the day. I expect my penny when i get my change. its an excuse to keep raising the prices on everything!
The penny was amazing and still is... now we have something amazing to give our children and grand children but what about all those sayings like " A penny for your thoughts" or " Penny pinchers"? Also why can't we just make pennies out of something else? Another very important reason is that our maple leaf is on the penny, it is a symbol of Canada.
Prices will NOT go up by a simple penny....right now the HST is set at 13% (pennies involved in every transaction)....so it not only effects your cost of a coffee once a day at Timmys.....your hydro...your gas...gas for your car.....insurance....groceries....mortgage payments....phone bills....cable...every other day to day living expense..........NOW take a look at your monthly bills.....do they realy cost an even dollar amount...ends in a change amount that is exact 5 cents..or 10 cents.....BEFORE the HST is added?...whats the total AFTER HST.......now take all those bills and round them UP.....how much more each month is this going to cost you? .....and you think this illustrous government is doing a fine fucking job?
Go a bit further... change the base currency to a dime, using 1 decimal point, for ease of calculation.
First the penny then the nickel...where does it stop?
It is the best thing they could do who cares if prices get rounded up we live with price adjustments every day
Retailers will not have different prices for cash. How would a department store try and identify theft from their employees? Each time a round off happens, the employee could simply pocket it. They wont do tis. They'll simply up the final price to the next 5 cents.
Straight from the wholesaler, then all the middlemen, shipping. Each level will be raised, to deal with all the costs THEY need to cover. ultimately hurting the consumer who will have less to spend, thus hurting the economy....... Round, round we go......
Are we all still just gonna be a bunch of sheep?
Makes great sense (no pun intended). Most everything I pay for is done electronically anyway so nothing changes there. Wasn't aware that Australia and New Zealand have gone even further with their currency changes, good for them. If everyone rounds up or down according to the rules it will all come out just about even anyways! I winter in Arizona and in the States they still have a dirty one dollar bill which is a pain to deal with. They have a dollar coin but don't appreciate the advantages. Talk about savings potential down here being wasted!
No Likey!!! Do we have to do what we are told to do in this elected police-state we call Canada! Will we have to change the adage "Watch your pennies and dollars will watch themselves" to "Watch your dollars as they are forcibly taken away like your pennies were?" Quite the tactic to distract the general population from real social/political/economical issues that this budget holds.
It angers me. It has always been there, they ain't got no right to pase it out. I've always used them will continue todo so. When there'll be no more I'll continue with American pennies. They ain't gonna take that away from me!
I agree that this is a good thing, but if people are worried about rounding up for a few cents they have more problems. Plus more than 50% of all transactions are electronic now.
You will still be able to use your pennies, but for me I am very grateful they stop using it. I will collect them so they become extinct even faster!
But, think of how much lighter our pockets will be!
It is not true because if one product cost 1 cent more, and the supermarket will go up the price by 4 cents,!!!
out of penny means all prices will go up by 1 penny