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America Must Free Itself from the Tyranny of the Penny (www.nytimes.com)

submitted 2 months ago by silence7 to c/nyt_gift_articles@sopuli.xyz

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[–] nova_ad_vitum@lemmy.ca 1 points 2 months ago (1 children)

Other countries will start removing 5 cent coins in a few decades too (I'm guessing 30-50 years) . It's only natural when low but positive inflation is targeted by every modern economy.

[–] WolvenSpectre@lemmy.ca 0 points 2 months ago

There are loose plans to do that here in Canada long before that, but nothing solid right now. My guess is they are going to have to move from rounding to the nickel to rounding to the dime and pricing and taxes will have to follow. From when I was a kid a penny and a nickel are worth 1/5th of what they were in purchasing power.