30 March 2012

Canada Leads the Way? Elimination of the Penny

Many people that I have personal contact with me have heard some form of complaining about something unimportant in the grand scheme of life.  One of my favorite rants, the continued existence of pennies.  I hate pennies. 

Inflation is necessary part of capitalist stability, and has long since rendered the penny obsolete.  Rounding every purchase to the nearest 5 cents saves far more than it costs.  There are many places to find analysis and commentary on this, here is one.


Even in a worst case scenario for an individual (say losing 3 cents on 10 purchases a day for an entire year) the losses are fairly insignificant (around $100 a year).

 I can't fully explain why the little copper coins annoy me so much, but they do, and per the above story, my home nation is making a bid for me to return home (I can't think of any other reason for Canada to eliminate the 1 cent coin?)
Actually I can think of many....but I'll suggest that Canada needs me back as the primary reason (for now). 

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