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Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 4:04 pm
by frugalcanuck
Well I guess Canadians will have a harder time searching for coppers once all the pennies are gone

http://www.theglobeandmail.com/news/pol ... le2386120/

Canadian Government Scraps Penny

PostPosted: Thu Mar 29, 2012 4:28 pm
by frugalcanuck
Canada will stop producing pennies this April and begin pulling them out of circulation this fall.

Get them while you still can

http://www.theglobeandmail.com/news/pol ... le2386120/

The end of the Canadian Penny

PostPosted: Thu Mar 29, 2012 4:29 pm
by mtalbot_ca
:shock:

Here is a link to the news: http://www.huffingtonpost.ca/2012/03/29 ... d%3D147741

Your thoughts?

Should I rush to get more pennies? :o

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 4:32 pm
by ThePowersThatBe
Merged three identical threads.

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 4:33 pm
by AGCoinHunter
The US isnt far behind.

Re: The end of the Canadian Penny

PostPosted: Thu Mar 29, 2012 4:36 pm
by frugalcanuck
mtalbot_ca wrote::shock:


Should I rush to get more pennies? :o



Yes

Yes you should

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 4:40 pm
by highroller4321
My predictions are 8 months ahead of schedule! Step 1 of 3 is now in progess. T-minus 3 years or less untill the U.S penny is gone!!

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 4:54 pm
by John_doe
AGCoinHunter wrote:The US isnt far behind.




agree. that being said, we might see price increase/market developement for us smarter folks who did'nt throw our pennies into a coinstar.

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 4:58 pm
by TXBullion
who cares, they are just lowly pennies. I did not even know those things had any value anymore

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 5:03 pm
by CanadianCopper
This is really disappointing. Can't say I didn't see it happening, but I was hoping it was 10 years from now. Obviously wishful thinking in hindsight :( :(

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 5:11 pm
by SilverDragon72
Very interesting indeed. I don't have many Canandian pennies now, but we'll see what happens here in the US in the next couple of years.

Re: Canadian Government Scraps Penny

PostPosted: Thu Mar 29, 2012 5:22 pm
by Z00
frugalcanuck wrote:Canada will stop producing pennies this April and begin pulling them out of circulation this fall.

Get them while you still can

http://www.theglobeandmail.com/news/pol ... le2386120/

?????? Why continue to produce if only to pull them back in the fall?
Sounds like the 2012 penny will get a big boost in numi value.
Grab all you can NOW!

Re: Canadian Government Scraps Penny

PostPosted: Thu Mar 29, 2012 5:42 pm
by highroller4321
Z00 wrote:
frugalcanuck wrote:Canada will stop producing pennies this April and begin pulling them out of circulation this fall.

Get them while you still can

http://www.theglobeandmail.com/news/pol ... le2386120/

?????? Why continue to produce if only to pull them back in the fall?Sounds like the 2012 penny will get a big boost in numi value.
Grab all you can NOW!



You realise April starts in 3 days right?

Re: Canadian Government Scraps Penny

PostPosted: Thu Mar 29, 2012 5:44 pm
by TXBullion
highroller4321 wrote:
Z00 wrote:
frugalcanuck wrote:Canada will stop producing pennies this April and begin pulling them out of circulation this fall.

Get them while you still can

http://www.theglobeandmail.com/news/pol ... le2386120/

?????? Why continue to produce if only to pull them back in the fall?Sounds like the 2012 penny will get a big boost in numi value.
Grab all you can NOW!



You realise April starts in 3 days right?


Is that some type of april fools joke high roller?

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 5:50 pm
by knibloe
Can a guy buy bags of cents from the mint? I

I didn't see any on their website

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 5:54 pm
by mtalbot_ca
I going to the bank tonight to see what they can sell me.

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 5:57 pm
by Cu Lung
So does this mean as of this fall the melt ban is gone? :D

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 6:17 pm
by John_doe
http://money.msn.com/personal-finance/l ... 901814837b


The us probably would have already done it, if it were not for the inflationary spanking they will surely suffer as a direct result of the debasement.

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 7:34 pm
by Copper Catcher
All aboard....the train has left the station....next stop USA! :D

When it is announced that the US is doing away with the penny....I say we all meet in Vegas to celebrate and then ask the casinos if they planning to rename the penny machines something different....even though not one of them actually takes a penny! :P

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 7:46 pm
by cesariojpn
Image

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 7:54 pm
by John_doe
cesariojpn wrote:Image




everyone else should panic, everyone here is fine. LOL'Z


chalk another one up for the crazies. :lol:

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 8:00 pm
by woodyh
this happened sooner than i thought

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 8:13 pm
by reddirtcoins
This should give us a good idea of where the price will go when the US cent follows. I'm interested to see what happens. Price increase for a CTU or worthless flop...? Time will tell and soon. Also we get to see what happens with melting values..

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 8:34 pm
by ceddy2
It is high time for the US Govt to follow suit. If they cost more to produce than their face value, time to shut it down.

Re: Canadian Government Scraps Pennies

PostPosted: Thu Mar 29, 2012 8:58 pm
by John_doe
ceddy2 wrote:It is high time for the US Govt to follow suit. If they cost more to produce than their face value, time to shut it down.




they shut down= we shut down.