It was announced yesterday that Canada is kicking the penny to the curb. Production of their one-cent copper coin (which is actually 94% steel) will cease in April because, as one official put it, their penny is "currency without currency."
(G)O Canada!
The United States needs to follow suit. Our penny costs more to make than it's worth.
The dollar coin never went anywhere because merchants complained there was no room for it in their cash registers. Well, get rid of the penny, and there's a slot for it. If we quit printing one-dollar bills, which need to be replaced every 15 to 18 months, we'll save even more money. (The life expectancy of a coin is 30 years.)
Canada replaced both its one- and two-dollar bills with coins, and it didn't kill anybody.
But then, they're Canadians.
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