Penny problem persists: senators meet to discuss future of the copper coin

Published on May 26, 2010; Published on July 1, 2010
The Canadian Press ~ The News

Topics :: Senate committee , Bank of Canada , Royal Canadian Mint , Toronto

Toronto -

Now may be the time to go out and spend that jar of pennies you've been hoarding.
A Senate committee is meeting tonight to hash out what could happen if the copper coin is eliminated.
The national finance committee will hear from the Bank of Canada, the Royal Canadian Mint and the Department of Finance on the issue.
The debate about whether the penny has any value isn't a new one.
Retailers say getting rid of the coin would make their businesses more efficient, but some consumers worry that prices will get rounded up.
A private member's bill that proposes abolishing the coin was introduced in 2008 and is still on the table.

Rate
Top of the page

Submit a comment

Submit a comment Your name* Email* (we keep all emails private) Write your comment here*

Agreement

We ask that users remain courteous. You may not post insulting, discriminatory or inappropriate content, which may be removed at our discretion. We are not responsible for user content and opinions. Use of this site as well as content submission & ownership are governed by our Conditions of Use and Privacy Policy.

Member organizations should be non-profit in nature, and promote legal activities. Any organization found promoting illegal activities or commercial products or services will be deleted from the site.

I agree with these conditions.