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.

Popular posts from this blog

Happy New Year!

 I wish everyone a Happy New Year! I hope that 2023 brings you joy. The last few years have been difficult for most people, due to the pandemic. Lives have been changed, and plans have been altered. I pray that this will be the year that things return to normal, so that we can make the most of our lives without worrying about putting our health at risk.
Read more

Happy Greek Orthodox Easter!

Happy Easter to my fellow Greek Orthodox Christians, and others celebrating the holiday today. This year is particularly difficult with the global pandemic, which is keeping many of us apart from those we love due to social distancing. We pray that next year we will be spending it with all of our friends and family members. It sometimes takes a global crisis like this to remind us to treasure each moment , as we don't know what the future will bring.
Read more