VANCOUVER (NEWS1130) – The penny’s days may be numbered in Canada.
The senate’s finance committee has now heard from vending machine companies, the Salvation Army, and from the Canadian Bankers Association – who insists we have a nostalgic bond with the little copper coin.
On Vancouver streets, some people are still penny fans:
“I don’t mind them, actually.”
“I usually have a bunch of change anyways.”
“Roll them up, and then it’s good. I have young kids who help me roll them up, and then we take them to the bank.”
Others say we should get rid of them:
“I think it’s too heavy.”
“I never use them, so I could care less.”
An estimated 20 billion pennies are currently in circulation. Each one costs more than a penny to make.
Australia and New Zealand have already killed their one-cent coins. A final decision on the fate of the Canadian version is expected by the end of this year.