Some folks here in Canada want to do away with the penny. They say it costs a cent and a half for each penny made, and based on the surface of that statement, many people will jump on the penny-bashing bandwagon.
Not me.
We need the penny. We don't really think about it, but it is useful. We get those ninety-nine cent deals, gas is not quite $1.08/L, but rather $1.079, and so on. Does anyone really believe that if the penny is cast aside that businesses will round DOWN? Instead of the ninety-nine cent deal, it will be a dollar, not ninety-five cents. Instead of gas being $1.079/L it will be $1.08. And if you don't think pennies matter, think on this .... with the two gas prices I quoted, the difference in one 30L fill will be $0.03. Doesn't sound like much, right? Well, now start thinking of all the vehicles in your city or town putting thirty litres of gas in their car every week. In my city, I will estimate it and say there are 100 000 vehicles. Based on 100 000 vehicles putting in only 30L of gasoline, suddenly that three cents is $3000.
Per week. That would make a difference in spending of $156 000/year.
In my city.
One penny may seem useless, but like the worker ant, what may seem insignificant on its own is massive in a larger group.
And by the way, if the penny is so damned expensive to mint, try using something other than copper. Duh.
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