NPR : News

Filed Under:

Canada Bids Its Penny Goodbye; Should The U.S.?

Canada is changing its change.

The USA's northern neighbor on Monday stopped distributing pennies. Going forward, stores "up there" will be rounding prices to the nearest nickel (sometimes up!). It's all part of a plan, as Planet Money has reported, to save the government $11 million a year. No more spending 1.6 cents or so to make a coin worth just a ... penny.

In The Wall Street Journal last month, Medallic Art Company historian D. Wayne Johnson made the case for eliminating the U.S. penny as well as the nickel and quarter to save on minting costs. NPR's Scott Simon doubts any of that will happen anytime soon because politics makes it truly tough to phase out coinage that comes with presidents' profiles. And BloombergBusinessweek has pointed out that "plenty of Americans like pennies and their Honest Abe heritage. Those enthusiasts, along with industry lobbies, have rallied to support the coins when there has been movement to kill them."

So it probably won't happen. But should the U.S. penny join its Canadian cousin in the home for retired coins?

Note: That's just a question, not a scientific survey of public opinion.

For more news about Canadian currencies, see our earlier post: "Whoa Canada! New Currency Has 'Wrong' Maple Leaf?"

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

When Caravaggio Plays Quevedo In Tennis, The Court Becomes A Sonnet

"It's a little space, well-measured and precise, in which you have to keep the ball bouncing," says Álvaro Enrigue. His book, Sudden Death, pits the Italian painter against the Spanish poet.
WAMU 88.5

Does "Made in DC" Matter?

D.C.'s first bean-to-bar chocolate maker, Undone Chocolate, got its start in local food incubator space Union Kitchen, part of a wave of interest in locally made products which includes a push for a "Made in DC" logo.

WAMU 88.5

Does "Made in DC" Matter?

D.C.'s first bean-to-bar chocolate maker, Undone Chocolate, got its start in local food incubator space Union Kitchen, part of a wave of interest in locally made products which includes a push for a "Made in DC" logo.

NPR

Password Security Is So Bad, President Obama Weighs In

In unveiling a sweeping plan to fund and revamp cybersecurity, the president asks citizens to consider using extra layers of security besides the password.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.