Thursday, December 30, 2010

War on the penny: take prisoners!

It's been a few years since I've actually bothered to take home the pennies I get in my change. Usually, I'll ask the clerk for no pennies, I'll leave them on the store counter, or I'll use the leave-a-penny tray. This is an informal version of the rounding that would take place on cash transactions if the penny were eliminated.

You see, I'm one of the 55% of Canadians who support eliminating the penny from circulation, and my response to receiving a penny in my change is downright civil compared to many.

Pennies drop on the ground and nobody picks them up anymore, that's how little value they have. The one-cent coins cost more to produce and distribute than their face value is worth.

But I think I've been doing it wrong. In order to help catalyze the elimination of the penny, I shouldn't be refusing them access to my pocket, I should be welcoming them.

More specifically, hoarding them.

The more pennies are removed from circulation, the more need to be produced to fill the gap. That will drive up the government's cost of keeping the penny, and in turn help along the case to eliminate it.

Seeing that I'm a natural hoarder, I can't believe I didn't think of it before. And once the penny is formally given the pink slip, they'll be a nostalgic collector's item to give to grandkids, like a $1 bill. Or I guess the $2 bills. Hm, maybe I should collect some fivers too, just to be sure.

- RG>


Allison said...

The Senate Finance Committee agrees with you!

RealGrouchy said...

Allison - thanks, I intentionally lazied out and didn't look for many linkns.

When you said the SFC agreed with me, I thought you just meant waging the war on the penny, but they also want prisoners! Recommendation 7:

7: That the Government encourage charitable organizations to implement fundraising campaigns that would assist in the collection of one-cent coins for removal from circulation.

After which, I'm sure, they'll be shot.

- RG>