Ahh, the much maligned Canadian penny. I'm sure a lot of people in my country have a few jars of this useless coin somewhere around the house. Production of the coin, which costs 1.4 cents to mint, ended in May, and the coins were supposed to have been taken out of circulation this fall. Much to the delight of retailers. Until today, that is.
Some of the same retailers who lobbied for the demise of the penny now want it RETAINED until after the holidays, some 5 months away. And the Feds have relented, and won't kill off the once copper coin until February.
Why the turnaround? Did someone toss a penny into the air with Heads it stays and Tails it goes? If so, it came up "Heads". What's the rationale? You'd think most shops would be happy about the prospect of rounding up to the nearest nickle, dime, quarter or dollar would have them drooling. Although to be fair, it does work the other way, with them having to round DOWN to the next nearest denomination. Why, then, the apparent change of heart?
Well, it seems a lot of retailers, probably some of the ones who campaigned to have the penny dropped, are now bitching that the move would be "too much of a burden" with holiday season not far off.
So, all you hoarders of Canadian pennies out there, get out there and spend, Spend, SPEND. Or just roll them up and take them to the bank for real money instead.
Now if you'll excuse me, i have to go "spend a penny".
'Nuff said.
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