Starting February 4, 2013, Canada is doing away with the penny. You’re going to be expected to round up or down to the nearest 5 cents. The new change (change, get it?) is coming about because it costs more to produce a penny than a penny is actually worth.
Although I’ve heard talk about the US Government phasing out pennies and nickels, there’s not firm word that this will happen for us just yet. Most people don’t think this will cause any effects on the day to day lives of anyone. And the phase-out will not include online merchants, although I’m pretty sure they’ll just go with it. People swear they are useless currency but what about the 99 cent store merchants?! And did no one see how fast pennies add up on Office Space?!
I haven’t decided if I want to start hoarding pennies for nostalgia sake or take them to the nearest change machine and get a nice electronic statement to show me the value of my long gone coins. Just add ol Abe Lincoln’s coin to the list of references my child will not understand, along with the motion to roll down windows in a car, the concept of “taping” anything, and when SNL used to be funny.
If you’re Canadian and need full deets on the change of change, go here.