Our thoughts are now free: no more pennies

canadian-penny“Penny for your thoughts?”

Rounded down, our thoughts are now free, so Canada is a country of free thinkers for certain.

For the non-Canadians in my audience, Canada discontinued distribution of the penny, a coin that cost more to make than it was worth, so retailers now round cash transactions up or down to the nearest five cents. An item that costs $1.01 or $1.02 costs $1.00, while an item of $1.03 or $1.04 costs $1.05. (Electronic transactions remain calculated to the penny.)

This affects Canadians at their heart centre—our famous Tim Horton’s doughnuts franchise. Tim Horton’s made a practice of pricing their food items out to the most inconvenient total possible. I don’t have scientific proof to back this up, but I suspect Tim Horton’s franchises kept more pennies rolling than any other business in this country. But now—the mind boggles—a coffee could be $1.50, not $1.51. Oh, praises be!

And rounded down, our thoughts are now free, so choose good ones and share them freely.

9 thoughts on “Our thoughts are now free: no more pennies

  1. Jennifer

    The subject of the penny reminded me of an interesting on-line calculator your readers may be interested in. The site is givingwhatwecan.org or type in How Rich am I? and up pops a calculator. If you put in your after tax income and the number of people in your household it provides you with some very interesting info. It’s a tidy little gratitude lesson in itself.

    Jennifer

    Reply
  2. Jeannette Monahan

    I heard about this on NPR yesterday. I remember having Canadian pennies all the time when I lived in North Dakota–I kind of liked them, with their pretty leaves. It makes me wonder how soon before the same thing happens in the States. But I like your take that thoughts are now free. 🙂

    Reply
    1. Arlene Somerton Smith Post author

      As always, I am of two minds (the science and the story). On a practical level, hurray! On a romantic level, I am sad. “Find a penny pick it up . . . ” and “Pennies from heaven . . .” – all those romantic notions resonate with me. But, it will take a long time for pennies to disappear. I have a feeling they’ll keep cropping up in unexpected places for some time yet, and when they do, they’ll be all the more cherished now.

      Reply
  3. Pingback: A penny for your thoughts she said « Winnipeg News Review

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