Canadians register penny loss at the tills

by Andy Macdonald Posted: February 4, 2013 6:15 PM Last Updated: February 4, 2013 6:30 PM

View the story "Canadians register penny loss at the tills" on StorifyCanadians register penny loss at the tillsShoppers felt the loss of the penny in their cash transactions todayStorified by CBC News Community· Mon, Feb 04 2013 14:54:28

Although Canadians have known for some time that the penny would be dropped from the country's collection of coins, that reality truly registered for those who went shopping today.

With the penny costing more to produce than the actual coinitself, the financial benefits to the economy are clear to many. In its lastyear, each penny was costing the government 1.6 cents to produce.

With thepenny's passing, the government expects to save $11 million a year -- however, the loss of the copper coin was felt bymany this morning as the change from their morning coffee was dropped into theirhands.

I guess this is goodbye forever - - #canadian #pennyandrew blandThough the savings might be miniscule in some cases, Canadians are looking at the bigger picture.
I just saved $0.01 on my morning coffee because of the penny abolishment. With how much coffee I drink, this is going to save me a fortune!Mark PolivchukNow that the #penny is retired, I expect my savings account to be rounded up to a #nickle.DylanThe small savings in morning rituals were celebrated, and some grievances were aired over Twitter this morning.
I got a coffee and a sandwich today. My change should have been $15.09 but I got $15.10 back because Canada got rid of the penny. Cool.NerdyFTWRIP Canadian Penny. My $1.94 coffee will cost me $1.95 starting tomorrow.Ben ChanThank you little #penny. http://twitpic.com/c0xma4Starbucks CanadaMany wondered if businesses were taking more of their fair share by not rounding down.
Went to @TimHortons in #abbotsford and the bill was $2.22. Went to pay cash, and it was rounded UP to $2.25. #penny #dotheyeverrounddown?Jake KostelykThe price of my Tim's got rounded up... Really feeling the loss of the penny right now #byepennyAmy HalinatyThe choice to round up or down is ultimately up to retailers, but some have made an extra effort to be transparent with their transactions.
Goodbye Canadian Penny! Effective Feb4, cash transactions to be rounded to the nearest 5¢--Here's how http://pic.twitter.com/RvAWVgpJRedFlagDeals.comRound up, round down, take, don't give, cash or credit AHH! Goodbye to the #penny, hello confusion! http://pic.twitter.com/jvafzbglTourism TerryPenny for your thoughts...so long as it's only on debit or credit starting today in Canada!Brian Halk

Marketing opportunity

A few prominent Canadian businesses such as Home Depot, Giant Tiger and Loblaw Ltd. took the abolition of the penny as a marketing opportunity and promised customers that all prices would only be rounded down.
Say bye to the penny, but don't worry when playing cash at GT we will round down!! Every penny counts!! #byebyepenny #gianttigerGiant Tiger #135@_Hamish Not everywhere. Some retailers, Home Depot & Loblaws, are going to round down everything http://www.theglobeandmail.com/report-on-business/economy/currencies/retailers-banks-and-shoppers-adjust-to-life-without-the-penny/article8155151/drewskiOverwhelmingly there was a lot of honouring of what many were calling an 'old friend'. And, although change purses will be lighter, some are lamenting the loss.
No more pennies... What am I going to use to throw at people?!?! #canadian #penny #abolishedweezy_mbabyObituary: Canadian penny, 1858-2013 - Canada - CBC NewsThe ubiquitous Canadian penny passed away peacefully on Feb. 4, 2013, snuffed out by the Royal Canadian Mint, which stopped distributing ...Thoughts just went up 500% today. #pennyKarena WalterMe right now :(:(:(:(:(:( #selfie #penny http://pic.twitter.com/8i35EyShCanadian Penny

A handful of pennies in Toronto Thursday, March 29, 2012. (Graeme Roy/Canadian Press)

Tags: Canada, Economy

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