A Nickel For Your Thoughts?

On Monday, the Royal Canadian Mint will cease distribution of the penny (1 cent coin), making the nickel (5 cent coin) the lowest issued coin in Canada. Inflation has eroded the purchasing power of the penny over decades, so much so that it now costs more to produce a penny than its face value. Many people won't even bother to pick up a penny, although I still consider it good luck to do so!

This also means that prices will start to be rounded to the nearest nickel when paying in cash. This won't affect me too much, as I use my credit card for most purchases. But, I think many skeptical folks will be upset when they see certain cash purchases rounded up, as they won't realize that it's balanced out in the long run by purchases that are rounded down.

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