Monday, February 4, 2013
Round up (or down) time for the penny
Starting today, consumers will find that their retail location of choice will begin to either tack on two or three cents up, or take down a similar amount on the purchase price, depending on where the sub total arrives at the cash register.
The much discussed elimination of the penny has made for a fair amount of reminiscing of late, not to mention the steady sound of pennies getting rolled up for the final round up as it would be.
In order to help ease the transition to a penniless future, The Finance Department has provided some background on the penniless path ahead, as well as a helpful little chart to give us all some idea as to the round off points for your transactions.
With the the start of the business day today, pennies will no longer be distribute the penny and it is urging businesses to start with the round up process, leaving the nickel to carry the weight of the low end of the cash transaction cycle moving on into the penniless future.
Though it would seem that the nickel should not get too comfortable with it's new status, as it seems that the politicians (or NDP MP Pat Martin anyways) are fixing their gaze on the five cent piece as well.
National Post-- 'One down, one to go': After penny killed off, NDP MP Pat Martin sets sights on nickel
National Post-- Will Canada's nickel be the next to go?
After that who knows, maybe the dime gets the bulls eye treatment.
At which point, Canadians can finally observe that the politicians are truly trying to nickel and dime us...
Labels: Penny to be phased out
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