First column for the Daily Observer in Pembroke. Other fine pieces of news can be found on http://www.thedailyobserver.ca/
The funeral arrangements are done, the dirges have been sung and all that is left is for us to say goodbye.
It took more than 150 years, but the fiscal nightmare is finally over and the dreadful Canadian penny has been relinquished to its rightful place: the depths of sofas nationwide.
For the past week, Canadians everywhere have been coming to grips with the fact that the iconic coin has been put out to pasture. For some, the news has been met with much weeping and gnashing of teeth, but others rejoiced. (Well, rejoice is a strong word, shrug apathetically would be more fitting in this case.)
The weepers are terrified that this change will translate into higher prices. Without that precious penny acting as a buffer, prices will have to be rounded up or down. Already several stores are proudly using their ‘round down’ policy as a selling point.
True, some unscrupulous merchants may constantly round up, but enough complaining should nip that trend in the bud.
I’ll concede that there is some nostalgia to the penny, but realistically it’s the lame duck of the financial world. Pennies aren’t even worth picking up off the floor. More importantly, nothing can be purchased for a penny, absolutely nothing. You can’t even purchase a penny for a penny as it costs 1.6 cents to produce.
Cutting them out will save the federal government (aka taxpayers) approximately $11 million. None of this money will ever be seen again by the average Joe, but it’s still nice to think about the bonuses Members of Parliament will soon mysteriously receive.
Saving money is probably just a small reason why the penny has been dropped. There are plenty more reasons to dislike pennies.
They are bastions of filth, they weigh down your purse, they hurt when your brother “accidently” throws them at you. More importantly, they are featured in my recurring nightmares.
In another life, I worked in a library in Ottawa. It was a good library, if a bit on the small side. Books were plentiful, the free Wi-Fi Internet was fast, we had a steady stream of interesting patrons, and we had been spared the bedbug plague that had affected so many others. Life was good. That is, until Pennygate. Mr. Red was a frequent evening visitor, often coming in minutes before closing. He always loaded up his old backpack with more books than he could carry, then ordered me to find him plastic bags to fit the extra. The bag always had to be white or else he would refuse to take it. He was a stubborn man, an unyielding man and, frankly, kind of a jerk.
So when he had managed to get a $15 fine, it was no surprise that he absolutely refused to pay it. Fed up with his behaviour and unwilling to get in trouble for him, I absolutely refused to forgive the fee. It became a standstill between Mr. Red and me to see who would break first. He would come in posturing, arguing about the unfairness of charging so much and I would smile sweetly before giving him a detailed breakdown of his fine.
Our battle of wills lasted nearly six months until his card finally expired and he was forced to pay the fine if he wished to renew his membership. I must admit that I was a little smug, OK more than a little, when he admitted that he had come in to pay. I was doing a little happy dance in my mind. Until he reached into his raggedy backpack to remove a grocery bag filled with pennies and deposited his change onto the circulation desk.
The smirk he gave me as he watched me count haunts me to this day.
I don’t know if you’ve ever seen $15 worth of pennies, but it is a lot of copper. It also weighed approximately eight pounds and by the time I finished counting 1,500 coins (many of them were sticky), my hatred of the penny was sealed.
Now that they are no longer being produced, I can rest easier knowing that I will never go through that again. It is merely a matter of time until pennies are completely out of circulation. As of now it remains legal tender so banks and stores will still grudgingly accept them.
Yet there may be a more gracious way to spend this obsolete change. In fact, the Pembroke Public Library is currently accepting donated leftover pennies for its “Every Penny Counts” campaign.
Just do them a favour and roll the pennies up before you hand them over.