A Penny for Your Thoughts
I have a sneaking fondness for that old expression, but not for the actual 1 cent coin. It's somehow optimistic to think that even in the age of twitter, thoughts might actually be worth something. The coin, though, is simply a pain. It costs 2.4 cents to produce them and they are essentially a pure nuisance rather than facilitator in commerce. Our Canadian neighbors have decided to get rid of the darn things , according to Andrew Sullivan, and bravo to them. Canada will withdraw the penny from circulation this year, saving taxpayers about C$11 million ($11 million) annually and forcing retailers to round prices to the nearest nickel, the government announced in its budget [Thursday]. We should do the same of course. And while we are at it, the Nickel is another bad deal - they cost about 10 cents to produce. A dime for your thoughts?