Author Topic: Canadians will say Goodbye to Pennies  (Read 9638 times)

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Offline N. De Plume

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Re: Canadians will say Goodbye to Pennies
« Reply #45 on: April 01, 2012, 11:22:30 am »
I prefer cash myself.

First, the physical element gives an easy and effective reminder when you are spending too much. It is far too easy to overspend when all you have is an electronic number.

Second, it reduces my trail. Every electronic transaction leaves a record. I have been put on at least one mailing list I didn’t need because I happened to use my debit card when I was buying a gift for someone else.

Third, in many ways, it is so much easier to steal money from someone’s digital account than it is to get into their wallet and take the piddling amount of cash they have in it.

I generally try to keep my debit card for online and large purchases only. Very rarely, I dip into it if I am low on cash-on-hand with no nearby ATM and my purchase is a necessity.
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Offline Askold

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Re: Canadians will say Goodbye to Pennies
« Reply #46 on: April 01, 2012, 11:25:55 am »
Funny thing but in Finland Debit cards are used so much that some shops have considered about no longer accepting cash payments since it would not have much disadvantages. In fact it would make it safer for the staff since there wouldn't be large amounts of cash in the registers, so that would reduce robberies.
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Re: Canadians will say Goodbye to Pennies
« Reply #47 on: April 01, 2012, 07:11:19 pm »
Some even want to get rid of our 5cent coins as well, as it (sometimes) costs more to make them, it even went as high as 6.5cents to make one.
I'd love to get rid of them and possibly the 10c coin as well. The fucking things do nothing but weigh my wallet down and make it difficult to dig out coins that are actually useful.

Offline Old Viking

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Re: Canadians will say Goodbye to Pennies
« Reply #48 on: April 01, 2012, 07:30:47 pm »
In both Canada and the US, it was a sorry day when beaver pelts were discontinued.
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Offline MadCatTLX

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Re: Canadians will say Goodbye to Pennies
« Reply #49 on: April 01, 2012, 07:59:25 pm »
In both Canada and the US, it was a sorry day when beaver pelts were discontinued.

Aye. It was also a sad day when we couldn't get stuff for shiny beads.
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Offline Canadian Mojo

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Re: Canadians will say Goodbye to Pennies
« Reply #50 on: April 01, 2012, 10:32:06 pm »
I costs a bit more to make than we say it is worth... which is a problem how exactly? It's not like we use it once and it is rendered useless. There are pennies still in circulation almost as old as Old Viking. As long as the base metal isn't worth melting down to re-sell at a profit, we're good.

Offline GLaDOS

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Re: Canadians will say Goodbye to Pennies
« Reply #51 on: April 02, 2012, 09:40:34 am »
I'm surprised nobody has pointed out the more obvious problem with eliminating pennies in the U.S.

Taxes.
Then stores should just include the taxes in the listed price. It makes for much less confusion, especially in states that are very specific about what has sales tax and what doesn't.
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Offline armandtanzarian

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Re: Canadians will say Goodbye to Pennies
« Reply #52 on: April 02, 2012, 10:19:35 am »
I'm surprised nobody has pointed out the more obvious problem with eliminating pennies in the U.S.

Taxes.
Then stores should just include the taxes in the listed price. It makes for much less confusion, especially in states that are very specific about what has sales tax and what doesn't.
I think I mentioned this but Malaysia charges 6% sales tax. The final bill is still rounded to the nearest 5 cents (credit card payments are not rounded). There seems to be no problem with the retailers, except there will be a one-time cost of recalibrating all machines.

The alternative is to make the item price inclusive of the sales charge. Will make the item seem a little more expensive, but eliminates the whole rounding error bullshit.