Monday, February 4, 2013

A Nickel For Your Thoughts?

That was the joke going around today, as the Royal Canadian Mint officially retired the familiar copper one cent coin.
Today's Google doodle
As of today, pennies will no longer be distributed.  They are still legal tender (there are apparently still 35 million of them still in circulation!) and can be used for cash payments at the discretion of the recipient but they are no longer available at banks and stores will not be required to make change to the exact cent any more, they can either round up or round down.  Some retailers are advertising that they will only round down, others have signs posted by the cash registers advising that they will round down if your purchase ends with 1, 2, 6 or 7 cents and round up (i.e. to the nearest nickel increment) for all other amounts. 

Ironically, I actually found a penny on the ground today.  "Find a penny, pick it up and all the day, you will have good luck."   Guess we can't say that any more either.  :(

1 comment:

LaurieJay said...

Ha ha, it even made the local newspaper here. Oh well, at least you can still spend 'em if you have 'em. Or you can glue them onto a journal page.