A nickel for your thoughts?
The Canadian penny’s use now exists only in our thoughts — and on our credit-card statements.
The beginning of this week marked the end of trading in the penny when completing cash transactions.
In a cost-saving measure, the Royal Canadian Mint stopped producing pennies last spring and, effective this week, will stop circulating the iconic brown coins.
Any pennies that land in bank vaults will be sent to the Mint.
As a result, rounding up and rounding down may join double-double in the Canadian vernacular.
The federal government has proposed rounding up or down, to the closest five-cent increment, be used in cash transactions.
While plenty of pennies may find their way to jars and drawers to be held as keepsakes, a number of companies — including Home Depot and Tim Hortons — are collecting the coins for charity purposes.