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Canadian Government Scraps Pennies

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Canadian Government Scraps Pennies

Postby frugalcanuck » Thu Mar 29, 2012 4:04 pm

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/
"The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent." John Kenneth Galbraith 1975
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Canadian Government Scraps Penny

Postby frugalcanuck » Thu Mar 29, 2012 4:28 pm

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 study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent." John Kenneth Galbraith 1975
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The end of the Canadian Penny

Postby mtalbot_ca » Thu Mar 29, 2012 4:29 pm

: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
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Re: Canadian Government Scraps Pennies

Postby ThePowersThatBe » Thu Mar 29, 2012 4:32 pm

Merged three identical threads.
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Re: Canadian Government Scraps Pennies

Postby AGCoinHunter » Thu Mar 29, 2012 4:33 pm

The US isnt far behind.
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Re: The end of the Canadian Penny

Postby frugalcanuck » Thu Mar 29, 2012 4:36 pm

mtalbot_ca wrote::shock:


Should I rush to get more pennies? :o



Yes

Yes you should
"The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent." John Kenneth Galbraith 1975
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Re: Canadian Government Scraps Pennies

Postby highroller4321 » Thu Mar 29, 2012 4:40 pm

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!!
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Re: Canadian Government Scraps Pennies

Postby John_doe » Thu Mar 29, 2012 4:54 pm

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.
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Re: Canadian Government Scraps Pennies

Postby TXBullion » Thu Mar 29, 2012 4:58 pm

who cares, they are just lowly pennies. I did not even know those things had any value anymore
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Re: Canadian Government Scraps Pennies

Postby CanadianCopper » Thu Mar 29, 2012 5:03 pm

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 :( :(
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Re: Canadian Government Scraps Pennies

Postby SilverDragon72 » Thu Mar 29, 2012 5:11 pm

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.
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Re: Canadian Government Scraps Penny

Postby Z00 » Thu Mar 29, 2012 5:22 pm

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!
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Re: Canadian Government Scraps Penny

Postby highroller4321 » Thu Mar 29, 2012 5:42 pm

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?
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Re: Canadian Government Scraps Penny

Postby TXBullion » Thu Mar 29, 2012 5:44 pm

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?
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Re: Canadian Government Scraps Pennies

Postby knibloe » Thu Mar 29, 2012 5:50 pm

Can a guy buy bags of cents from the mint? I

I didn't see any on their website
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Re: Canadian Government Scraps Pennies

Postby mtalbot_ca » Thu Mar 29, 2012 5:54 pm

I going to the bank tonight to see what they can sell me.
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Re: Canadian Government Scraps Pennies

Postby Cu Lung » Thu Mar 29, 2012 5:57 pm

So does this mean as of this fall the melt ban is gone? :D
Opportunity is missed by most people because it is dressed in overalls and looks like work.
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Re: Canadian Government Scraps Pennies

Postby John_doe » Thu Mar 29, 2012 6:17 pm

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.
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Re: Canadian Government Scraps Pennies

Postby Copper Catcher » Thu Mar 29, 2012 7:34 pm

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
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Re: Canadian Government Scraps Pennies

Postby cesariojpn » Thu Mar 29, 2012 7:46 pm

Image
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Re: Canadian Government Scraps Pennies

Postby John_doe » Thu Mar 29, 2012 7:54 pm

cesariojpn wrote:Image




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


chalk another one up for the crazies. :lol:
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Re: Canadian Government Scraps Pennies

Postby woodyh » Thu Mar 29, 2012 8:00 pm

this happened sooner than i thought
life is like a box of pennys , you never know what your gonna get
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Re: Canadian Government Scraps Pennies

Postby reddirtcoins » Thu Mar 29, 2012 8:13 pm

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..
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Re: Canadian Government Scraps Pennies

Postby ceddy2 » Thu Mar 29, 2012 8:34 pm

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.
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Re: Canadian Government Scraps Pennies

Postby John_doe » Thu Mar 29, 2012 8:58 pm

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.
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