Sure it may make economical sense (apparently, it costs 1.5 cents to produce one penny), but why does everything in today's world need to be measured using monetary value as a metric? Doesn't sentimental value weigh in anymore? With governments favouring cashless technology, just take one second to think about future newspaper headlines if this pattern continued: "Nickelgone - the coin and the band gone for everyone's sake, Dime is running out, Loonies: It was a looney idea to began with, Say goodbye to coins for good - farewell toonie". Just think about this tragedy (well, maybe not the Nickelback part).
What happened at the Winter Olympics? Did they bury a Mastercard under center ice? A smart card? An iTunes gift card? No! They buried a loonie - a lucky loonie. What starts up (or ends) the most anticipated sports event of the year? The coin toss at the Superbowl. Come to think about it, I've never seen anybody toss his/her debit card into a wishing fountain either.
Perhaps I'm wrong. Maybe economic sense does take precedence in this case. After all, the penny has lost 95% of its purchasing power since 1908, and in today's world, even thoughts don't cost a penny anymore.
I'd like to think they still do anyways.
Tuesday, December 21, 2010
A nickel for your thoughts - The Canadian Penny no more
In today's world of debit and credit cards, fishing for pennies in your pocket has become a lost art. Last week, the Canadian recommended that the Canadian Penny be eliminated within twelve months, describing the 102 year-old coin as "useless", "expensive", and "inconvenient".