Canadian penny goes out of circulation today, but...

[chenshuo]

The Canadian penny is going to be out of circulation today. What does it mean when we buy gas for the BRZ/FRS?

[truenosan]

If you are paying my credit/debit, nothing changes. They only round if up/down when you are paying by cash.

[grgonium]

Originally Posted by chenshuo

The Canadian penny is going to be out of circulation today. What does it mean when we buy gas for the BRZ/FRS?

You can save yourself up to $0.02 per fill up.

IF you fill up 52 times a year, that's a whole $1.04 per year.

Of course, provided you only pay cash for fill ups, and you make sure your $ amount is $xx.x2

So really, Nothing? Not even a small coffee.

[zex]

cute

[i_4got]

Originally Posted by truenosan

If you are paying my credit/debit, nothing changes. They only round if up/down when you are paying by cash.

I believe your bill is rounded down to the nearest $0.05, no matter what, as long as you pay cash. That means you can save up to $0.04 per cash transaction. It's not much, but it is what it is.

[wbradley]

I thought the penny went out or production today, but continues to circulate for the time being.

If they ordered everyone to turn in their pennies, I wonder how much that would deflate the world copper price.

[DaJo]

Pennies will continue to circulate until they eventually reach to the banks, then The Royal Canadian Mint people will start collecting all of them from banks and etc...

[JoeyV]

Originally Posted by chenshuo

The Canadian penny is going to be out of circulation today.

Nope.

Originally Posted by i_4got

I believe your bill is rounded down to the nearest $0.05, no matter what, as long as you pay cash. That means you can save up to $0.04 per cash transaction. It's not much, but it is what it is.

Nope.

Originally Posted by wbradley

I thought the penny went out or production today, but continues to circulate for the time being.

Nope

Originally Posted by DaJo

Pennies will continue to circulate until they eventually reach to the banks, then The Royal Canadian Mint people will start collecting all of them from banks and etc...

Bingo!

The penny stopped being produced back in early 2012. The only thing that happened on Feb 4th was the Canadian Mint stopped distributing it. It is still being used and accepted as legal tender. Merchants however are using this to change the way items are charged when paid cash by rounding UP any final amoutn ending in $xx.x3 and $xx.x4 to the next nickel and rounding DOWN anything ending in $xx.x1 and $xx.x2 to the nearest zero.

Bassically, I think we as Canadians should go out and buy anything we need as usual and pay ONLY with pennies. :P

[thorlius]

I wonder, maybe one day pennies will be worth twice as much as collectables as they are worth now as legal tender.

...just my two cents.

(I'll see myself out.)

[wbradley]

Originally Posted by thorlius

I wonder, maybe one day pennies will be worth twice as much as collectables as they are worth now as legal tender.

...just my two cents.

(I'll see myself out.)

Nah-

There will always be tons of them around. I bet 100 years from now you will still be able to easily get them.

[Saibot]

You could try filling up one liter, paying, and filling up another liter, and paying.. repeatedly

Save yourself millions!!

[7thgear]

[ame="http://www.youtube.com/watch?v=DJofwoh3oos"]Best Prank Ever - Dumping pennies to pay a parking ticket. - YouTube[/ame]

[HunterGreene]

Good. I'm tired of Canadian Pennies showing up south of the border, and getting confused with good ole' US pennies in my change.

[Black Tire]

Originally Posted by wbradley

I thought the penny went out or production today, but continues to circulate for the time being.

If they ordered everyone to turn in their pennies, I wonder how much that would deflate the world copper price.

American pennies are just copper plated zinc, so the copper content is VERY low. I wonder if the Canadian mint used a similar system when they were producing more recent pennies.