Saturday, March 31, 2012

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?