Rounding Change – For or Against?

With Canada’s last one cent coin a thing of the past, February 4, 2013 is set as the date the Royal Canadian Mint is urging businesses to start rounding any cash transactions that involve pennies.

Should businesses begin this practice on that date?  Will cents be scarce in circulation?  I haven’t been able to confirm it, but I have heard that the banks will be sending deposited cents to the mint to assist in the withdrawal from circulation.  How long do you think it will take before pennies go the way of the 50 cent piece?  Will it become difficult to try and spend them?

Feb 4 Cent

There are a lot of questions that go along with the decision the government has made and I would love to hear your thoughts on the subject.

2 thoughts on “Rounding Change – For or Against?

  1. Yes,I agree the government did the right thing by stopping production of the penny. However I would rather see a gradual reduction in circulation. Alow business the option of rounding off purchases or permitting customers to use their pennies as long as they are avaible.

    • I do believe businesses are allowed to choose whether or not they will continue to accept the penny. Since the penny will remain legal tender, it will be up to each business to decide if they will accept it.

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