At long last, the government has done something to get rid of that old relic from the past: the penny. The archaic coin has become increasingly useless over the years. In this day and age the only uses for the coins, which are often dirty and found in trashy back alleys, is as a means to transport contagion. Is that a good use? To allow microscopic parasites a method of transportation? We are paying 1.6 cents for every penny that’s made. Where does that “.6” cents go, but in a cloud of smoke in the air.
Picture the scenario. You go into a shop to buy something and find that oh, you don’t have a penny, well, everywhere you go there is a jar to take a penny or leave a penny. If you’re short take one, two or three, if you have some extra, throw them in this jar.
The States has it much rougher. There, it takes a startling 2.4 cents to press a penny. While I’m sure there are a lot of people that would like get rid of a monetary currency that is worth more in raw material than it is in money, there are a lot of supporters for the penny in the States. For instance Abraham Lincoln is a well respected president and would lose his status of being on two denominations, the other being the five dollar bill.
We have no such issue here in Canada, after all, the Queen of England is on not just the penny, but all of our coins. I’m sure her highness could rest more soundly if she knew for a fact that her likeness was not being thrown around like leftover Halloween candy.
The only case that we see for the penny, is the prospect that charities that rely on penny jar donations will see a loss. But if that happens there is something that will take its place, and that’s the next coin that has no real buying power: the nickel.