When the data is segmented by province, it seems that 40% of Ontarians still use pennies, followed by Quebecers at 39%, residents of Western provinces at 37%, and residents of Atlantic Canada at 35%.
Most respondents (56%) say that they collect pennies to deposit or spend at a later date, or to give them to others (children, church, charities).
This data confirms the analysis of Desjardins Group economists who, in a study released today, propose to withdraw the penny, pointing to other countries, such as Australia and New Zealand, that have already successfully removed their one-cent coins from circulation. In fact, New Zealand has even removed its two- and five-cent coins.
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Economic "Think Tank" Urges The Dropping Of The Penny
Posted on Saturday, February 17 at 15:18 by DeaconContributed By
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The fact is, I'm certain that just about all of us toss pennies into a bucket and forget about the darn things. I treat nickels & dimes, and a lesser degree quaters just as I would pennies, so I figure most Canadian's won't miss the penny if it were scrapped.
Besides, all the prices will end up as $.95 instead of $.99 so we may be better off for it, but that would be way too optimistic, they'd end up rounding up a whole dollar to get to the next $.95 rather than lose 4 cents by rounding down.
Look at the savings and wealth creation, with all economists pushing brooms!
Ed Deak.
is a penny burned? Now that's just being penny
wise-ass.
And everyone knows that 4 cents up is nearer than 1 cent down.
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"and the knowledge they fear is a weapon to be used against them"
"The Weapon" - Rush
Not only scrap the penny -- also scrap the nickel, and make the dime the new penny. So instead of (say) $1.30, it would "a dollar three" ($1.3)
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"When you change the way you look at things, the things you look at change."
-Max Planck