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Now the Canadian penny's days are numbered, is the nickel next?http://news.nationalpost.com/2012/03/29/now-the-canadian-pennys-days-are-numbered-is-the-nickel-next/Canadian penny to join ranks of shinplasters, half-crownshttp://www.thestar.com/news/insight/article/1154368--canadian-penny-to-join-ranks-of-shinplasters-half-crownsSo long, Canadian penny. I won't miss youhttp://news.cnet.com/8301-17938_105-57407213-1/so-long-canadian-penny-i-wont-miss-you/Economic Action Plan 2012 Announces Elimination of the Pennyhttp://www.mint.ca/store/news/economic-action-plan-2012-announces-elimination-of-the-penny-14700007?cat=News+Releases&nId=700002&nodeGroup=About+the+MintCoins and Canadahttp://www.coinsandcanada.com/On the Origins of Moneyhttp://socserv.mcmaster.ca/econ/ugcm/3ll3/menger/money.txtIn the United States, a battle over the future of the penny has been raging for years. A number of economists and policymakers have called for the elimination of this unit of currency, pointing out that it costs more to create that its actual value of one cent. This past week, the Canadian government announced that it would be phasing out the Canadian one cent coin over the next few months, and that the last coin would be produced in the fall of 2012. Commenting on the decision, Canadian finance minister Jim Flaherty remarked that "pennies take up too much space on our dressers at home." Additionally, keeping these coins in circulation cost the Canadian government $130 million (CAD) per year. Interestingly enough, Canadians will be asked to round prices up or down to the nearest nickel, but credit card users will still be able to required to pay the exact amount stated for each transaction. Also, there are conversations going around the Canadian government calling for the elimination of the nickel in the future as well. Several other countries around the world have already phased out the nickel in the past few years, including New Zealand. The first link will take visitors to a fun piece from the Toronto Sun's Kenneth Kidd which finds him waxing nostalgic about the good old days of the shinplaster and half-crowns. Moving along, the second link will take interested parties to an article from the National Post about the future of the Canadian nickel. The third link leads to an article from CNET's "Crave" blog. The piece features a mediation from Canadian Tim Hornyak on his utter lack of love for the Canadian one cent coin, which he says is basically "dead weight." The fourth link takes users to the official news release from last Thursday about the elimination of the penny, courtesy of the Royal Canadian Mint. The fifth link leads to the Coins and Canada website, which is an excellent source of information about Canadian coins and related matters. The final link will whisk users away to a classic article from the Economic Journal titled "On the Origins of Money."

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  • Social Studies > General
  • Social Studies > Economics
  • Social Studies > World History

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    NSDL_SetSpec_internetscout,oai:nsdl.org:2200/20120928105222029T,Social studies -- History,Social Sciences,Social studies,History/Policy/Law,Social studies -- World history,Social studies -- Economics,Social studies -- Current events/issues,NSDL

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