I Agree–Kill the Penny!

In the past I had always resisted the changes to our currency. Like the time we switched from the paper dollar bill to the coin, that we lovingly call the “loonie,” I remember the outcry followed by the adjustment as we saw our beloved dollar bill turn into a coin. Then came the toonie a few years after–and the Bank asking Canadians not to adopt its current name. In Canada, our money has always undergone a constant flux of change and at almost any given year you can spot the differences of the colours, images and Bank Governor’s signatures. More than likely, when the Royal Canadian Mint commissions a change to the Bank Notes, it is because of counterfeit issues and commemorating festive events.

For me, if people are willing to except the face value of the currency, then I use it; if not, then what ever is excepted as currency e.g., clam shells, beads, gold coins, etc…, I’ll use that. As I become older and wiser, the colour of the money has less to do with its purpose than how much sweat equity I put into it when I exchange it for goods. As I have learned through studying History and Anthropology that currency comes in many different forms, although Revenue Canada would appreciate it if you use the Bank Notes supplied by the Mint for your everyday buying. I just don’t want to walk down to the local store with a wheelbarrow full of personal items to trade for a few chickens!

Common-sense must prevail at some point as the value of the Canadian legal tender loses its value and other factors supersede its worth. The old-school denominations become redundant and must go the way of the Dodo bird. The Penny, the 1/100 value of our base currency the dollar, has now surpassed its usefulness. The coin jar that I own weighs more than 5 Kg, and the last time I took my rolled coins into a Bank for exchange into something more manageable, I was charged a $2.00 fee for it–nice eh? For the amount of labour to roll up the coins into rounded allotments, and the service charge from the Charted Bank, it is almost worth it just to send the coins to the scrap metal yard for the value of the copper.

Kill the Penny! It will make a lot of sense–cents….

See the news story: Private member’s bill urges penny be scrapped