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(CBC)   The Canadian government wants nickel back   (cbc.ca) divider line 35
    More: Cool, Canadians, nickel back, Canadian government, Coinstar, electronic payments, Australian Government, economic model  
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11953 clicks; posted to Main » on 03 Jan 2013 at 12:34 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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Archived thread
2013-01-03 11:34:34 AM  
4 votes:

SnarfVader: Good. Let's give them Nickelback.

/And Celine Dion back too.


They can have whatever Bieber is too

We're keeping Robin Sparkles, though

userserve-ak.last.fm
2013-01-03 02:37:41 PM  
2 votes:
Now that Ottawa has announced something trivial to occupy your thoughts, Harper's Government is probably sneaking something horrifyingly important in your backdoor.

///Oooooooo, shiny!!!!!...
2013-01-03 02:15:48 PM  
2 votes:
The Canadian toonie weighs 1/4 of an ounce, comes in handy if you want to calibrate your ...er.. scales (except the brand new ones which weigh slightly less)
2013-01-03 01:38:33 PM  
2 votes:
Oh no. There is NO WAY I'm giving big businesses my money when they round up from $4.02 to $4.05.
Now excuse me, I have to go pay $4.50 in ATM fees to take out $20.
2013-01-03 01:27:07 PM  
2 votes:
Canadian currency rules a controlled by strippers.

You can't put a bill in a g-string, so $5 is the minimum, and they're color coded to see value from a distance.


/Mind you... Canadian strippers don't wear g-strings, they strip completed naked will spread for you on stage...
2013-01-03 01:04:23 PM  
2 votes:

dletter: Canadians seem to be much less hung up on physical money than Americans.

They use dollar coins much more than U.S., and I think they have a $2 coin as well.  They've already given up the penny, and now seem to be ok with ditching the nickel.

WTF is up with us?  I mean, is it just that all of our old people have that much control over crap?


Canadian's also have debit/credit cards with chip/pin technology. I was in the US last week and paid for something with my credit card. I almost had to do a double take when the cashier asked me to sign the receipt? I mean really, a country that has actually put people on the moon is still dealing with that kind of thing?
2013-01-03 12:50:03 PM  
2 votes:

rf134a: The sad part is that the penny has become trash to some people. I saw a guy drop a handful of pennies on the ground while leaving the grocery store.

/I wonder how much money is in the garbage dump...


I have a pile of pennies on the side table with my keys. The pile keeps growing as I never spend them. Maybe I should do something about that.

dletter: Canadians seem to be much less hung up on physical money than Americans.

They use dollar coins much more than U.S., and I think they have a $2 coin as well.  They've already given up the penny, and now seem to be ok with ditching the nickel.


We have the $1 coin (a Loonie) and a $2 coin (a Twonie). There was a big fuss when they both came out, but that ended quickly.
2013-01-03 12:38:54 PM  
2 votes:
Hey! The deal was Nickleback for Randy Quaid! FREE TRADE, MOFOS.
2013-01-03 11:36:18 AM  
2 votes:
"We see less and less people now ... digging in their wallets for nickels,"

What kind of weirdo puts change in their wallet? Oh right, Canadians.
2013-01-03 04:06:27 PM  
1 votes:

SkunkWerks: Well, though I live in the US, I can easily see the benefit this is going to have to me.

Less Canadian money for Vending Machine proprietors to spike their machines with is good news to me.


How? Canadian money is worth more than American now, and has been floating at parity for a couple of years
2013-01-03 04:03:37 PM  
1 votes:

durbnpoisn: Mike_1962: ArcadianRefugee: dletter: Flakeloaf: ArcadianRefugee: So what do they do when they make change? Round?

Yes.

Basically, it is the "why aren't you using a farking debit card" penalty.   I mean, other than people who have "cash jobs", like hairdressers, who I know a few and use cash everywhere, there isn't any reason for someone to not have a debit card, and almost everyplace takes a CC now... as far as those "cash job" people, since they are more than likely hiding most of their income from the IRS anyway, they can get screwed a few times on losing a few cents in change.

So they always round "in favor of the establishment"? $5.01 becomes $5.05 and not $5.00?

Heh, that would never fly in the US.

Nope. Standard rounding. 4 cents or less gets rounded down, 5 and up gets rounded up. Still, the retailer comes out ahead since everything is set to a penny less then what looks bigger. Eg 89.99

How about the gas stations? They are even worse. Eg 3.499/gal. Really, 9/10 of a cent?!


Except it's on the total - so 3 items set to x.99 would give a .97, which would be rounded down to the nearest 5 cents, as would 4 items.... it should all even out, especially since the two sales taxes (in quebec at least) come to are each applied on the total, on some (most) items and quebec charges tax on the canadian tax (Federal tax on total of all taxable items, Provincial tax on all taxable item totals, including Federal taxes) which is about 15%, but because of the stacking, helps the system to average out in the end.

Getting rid of the penny works well. Last I heard, if they got rid of the 5 cent piece (not called a nickel in Canada, technically) we would end up with an alternating rounding (1 up, 2 down, 3 up, ...) rather than a 1-4 down, 5-9 up
2013-01-03 03:27:48 PM  
1 votes:
FTA:A spokesman for Finance Canada, David Barnabe, said Wednesday the government has no plans to eliminate the five-cent coin.

okay, subby. hilarious nickelback joke though.
2013-01-03 03:25:45 PM  
1 votes:
So what, now everything will be priced and taxed in multiples of .05 cents? And if you take away the nickel then everything in multiples of .10 cents?
2013-01-03 02:43:57 PM  
1 votes:
Since when does a retired worker from the Bank of Canada and a spokesman for vending machine operators equal the Canadian Government?
2013-01-03 02:39:15 PM  
1 votes:

WippitGuud: Canadian currency rules a controlled by strippers.

You can't put a bill in a g-string, so $5 is the minimum, and they're color coded to see value from a distance.


/Mind you... Canadian strippers don't wear g-strings, they strip completed naked will spread for you on stage...


beta.images.theglobeandmail.com

God I love this country.
2013-01-03 02:33:52 PM  
1 votes:

Pope Larry II: rf134a: The sad part is that the penny has become trash to some people. I saw a guy drop a handful of pennies on the ground while leaving the grocery store.

/I wonder how much money is in the garbage dump...

I have a pile of pennies on the side table with my keys. The pile keeps growing as I never spend them. Maybe I should do something about that.

dletter: Canadians seem to be much less hung up on physical money than Americans.

They use dollar coins much more than U.S., and I think they have a $2 coin as well.  They've already given up the penny, and now seem to be ok with ditching the nickel.

We have the $1 coin (a Loonie) and a $2 coin (a TwonieToonie). There was a big fuss when they both came out, but that ended quickly.


FTFE
2013-01-03 02:32:33 PM  
1 votes:

Mike_1962: ArcadianRefugee: dletter: Flakeloaf: ArcadianRefugee: So what do they do when they make change? Round?

Yes.

Basically, it is the "why aren't you using a farking debit card" penalty.   I mean, other than people who have "cash jobs", like hairdressers, who I know a few and use cash everywhere, there isn't any reason for someone to not have a debit card, and almost everyplace takes a CC now... as far as those "cash job" people, since they are more than likely hiding most of their income from the IRS anyway, they can get screwed a few times on losing a few cents in change.

So they always round "in favor of the establishment"? $5.01 becomes $5.05 and not $5.00?

Heh, that would never fly in the US.

Nope. Standard rounding. 4 cents or less gets rounded down, 5 and up gets rounded up. Still, the retailer comes out ahead since everything is set to a penny less then what looks bigger. Eg 89.99


How about the gas stations? They are even worse. Eg 3.499/gal. Really, 9/10 of a cent?!
2013-01-03 01:53:47 PM  
1 votes:

dletter:
Canadian's also have debit/credit cards with chip/pin technology. I was in the US last week and paid for something with my credit card. I almost had to do a double take when the cashier asked me to sign the receipt? I mean really, a country that has actually put people on the moon is still dealing with that kind of thing?

Signing receipts and CC transactions seems so silly now... I mean, what is it really "proving"?  I have "check for id" written on the back of my Credit card... and if you don't have your CC signed, the person asks you to do that, and then sign your receipt... um ,ok.    I've never heard of a CC company checking a signature and going back to someone and saying "hey, did you really buy this?"  They'll do that based on a number of other things (numerous purchases at stores not near your home area, etc), but, never for an "odd signature".


Work in the merchant acquiring industry, getting a kick, etc...

Once the 'Fraud Migration' hits the U.S. issuers in full-force then you will see a rapid panic for the infrastructure. Fraud Migration: as one of the very last regions to go Chip & PIN / EMV Co. standard, mag stripe fraudsters will move their money laundering / frauding ways from a region with chip to one without chip.

The other thing is that the US is still oddly addicted to 'checks'. Canada's robust 'Interac' debit card network I think has largely replaced cash at the Point of Sale and people writing a cheques at, say, the grocery store has not probably been done for over 15 years.
2013-01-03 01:51:10 PM  
1 votes:

Day_Old_Dutchie: whyRpeoplesostupid: Huh. 30% of the World's nickle comes from the World's largest nickle mine in Sudbury, Ontario

That's your fun fact for the day

[img580.imageshack.us image 270x220]
...And we'll think no more of Inco on a Sudbury Saturday night.


I think it's a local law that if a person from Sudbury is to marry, no matter where the wedding takes place, that song must be played at least twice.
2013-01-03 01:21:35 PM  
1 votes:

ArcadianRefugee: dletter: Flakeloaf: ArcadianRefugee: So what do they do when they make change? Round?

Yes.

Basically, it is the "why aren't you using a farking debit card" penalty.   I mean, other than people who have "cash jobs", like hairdressers, who I know a few and use cash everywhere, there isn't any reason for someone to not have a debit card, and almost everyplace takes a CC now... as far as those "cash job" people, since they are more than likely hiding most of their income from the IRS anyway, they can get screwed a few times on losing a few cents in change.

So they always round "in favor of the establishment"? $5.01 becomes $5.05 and not $5.00?

Heh, that would never fly in the US.


Nope. Standard rounding. 4 cents or less gets rounded down, 5 and up gets rounded up. Still, the retailer comes out ahead since everything is set to a penny less then what looks bigger. Eg 89.99
2013-01-03 01:21:19 PM  
1 votes:
No need to get rid of the penny, just require retailers to round to the nearest $.05 and let it sort itself out. Or, in Canada's case, the nearest $.10.

I've also thought that all listed prices at retailers should include tax.
2013-01-03 01:13:03 PM  
1 votes:
I one of those people that saves all my change in little tubes. As soon as they filll up, I roll the change up. Then I use, what I consider to be, free money to buy scratch offs or something.

I don't do that with pennies though. I have an enormous water bottle for them. When that fills up a few inches, I take the to TD Bank and cash them into a savings account.
2013-01-03 01:04:16 PM  
1 votes:

dletter: Basically, it is the "why aren't you using a farking debit card" penalty.   I mean, other than people who have "cash jobs", like hairdressers, who I know a few and use cash everywhere, there isn't any reason for someone to not have a debit card


You'd be surprised how many people are unbanked in our society. In the States, anyway, someone who's bounced a few checks will end up in ChexSystems and be unable to get a normal debit card account. Plus the illegal immigrant population who won't come near a bank. There are also the deadbeat parents or whatever who work in cash that doesn't get confiscated.

Go to the Walmart service window on a payday. Hundreds and hundreds of people cashing their checks and buying money orders for the things they have to send 'checks' for.

There are alternatives... even some relatively non-evil alternatives like the Walmart/AMEX 'Bluebird' prepaid card. But, they all take a certain degree of financial attention and savvy that generally escapes people who have been caught up in that trap.
2013-01-03 01:02:42 PM  
1 votes:

Pope Larry II: I have a pile of pennies on the side table with my keys. The pile keeps growing as I never spend them. Maybe I should do something about that.


I think that was part of the problem with the penny. No one ever spends it it just ends up in bottles and piggy banks and jars and change dishes because people get them in their change. So the mint spends a ton of money (and uses a ton of materials) each year to make these pennies that just end up stored somewhere in people's houses.
2013-01-03 12:56:43 PM  
1 votes:

Random Anonymous Blackmail: So, do you just round up and automatically pay the extra few and soon to be several cents?

/honest question.


Or down, as the case may be.
2013-01-03 12:53:02 PM  
1 votes:

dletter: Canadians seem to be much less hung up on physical money than Americans.

They use dollar coins much more than U.S., and I think they have a $2 coin as well.  They've already given up the penny, and now seem to be ok with ditching the nickel.

WTF is up with us?  I mean, is it just that all of our old people have that much control over crap?



I agree with you completely. There has been a debate raging on for quite some time about it. And the side that says "drop the penny" has a better argument, I think. I mean, just one REALLY obvious point is that it costs more to make and cirulate the penny than the value of the coin. The metal in the coin is worth more than the face value (this is why they have legislation banning the sale of any US coins for their scrap metal value).

We should also consider losing the $1 and $2 bills. They cost a lot to make, and they last a fraction of the amount of time coins last. Canada did that at least 18 years ago. Last time was there, I didn't see a single bill lower than a $5.

So, if they can do it, why can't we? And don't give me this nonsense with, "people refuse to use the dollar coins." Really? Stop giving them the choice. Seems pretty simple to me.

Speaking of our new dollar coins, I understand what the issue was with the Susan B. Anthony fiasco. That really was stupid. But they solved that problem by making the new coincs completely differen looking, and still managed to maintain the same size and weight. In that case, they did the right thing.
2013-01-03 12:50:11 PM  
1 votes:
Shouldn't they concentrate on making $100 bills that don't melt in the hot sun first?
2013-01-03 12:49:28 PM  
1 votes:

Flakeloaf: ArcadianRefugee: So what do they do when they make change? Round?

Yes.


Basically, it is the "why aren't you using a farking debit card" penalty.   I mean, other than people who have "cash jobs", like hairdressers, who I know a few and use cash everywhere, there isn't any reason for someone to not have a debit card, and almost everyplace takes a CC now... as far as those "cash job" people, since they are more than likely hiding most of their income from the IRS anyway, they can get screwed a few times on losing a few cents in change.
2013-01-03 12:45:46 PM  
1 votes:

BobDeluxe: ITGreen: dletter: Canadians seem to be much less hung up on physical money than Americans.

They use dollar coins much more than U.S., and I think they have a $2 coin as well.  They've already given up the penny, and now seem to be ok with ditching the nickel.

WTF is up with us?  I mean, is it just that all of our old people have that much control over crap?

Sir, I question, nay challenge, your Patriotism!

(And in the movies, a briefcase full of coins doesn't look as good as tightly-bound stacks of twenties.)

The briefcase full of coils would probably be a lot heavier too.


Nobody said we wanted to go to $20 coins.... and nobody fills a briefcase with stacks of ones.
2013-01-03 12:44:21 PM  
1 votes:
The sad part is that the penny has become trash to some people. I saw a guy drop a handful of pennies on the ground while leaving the grocery store.

/I wonder how much money is in the garbage dump...
2013-01-03 12:37:28 PM  
1 votes:
if they want them they can have them on one condition they have to take bieber back too.
2013-01-03 12:12:55 PM  
1 votes:

whyRpeoplesostupid: Huh. 30% of the World's nickle comes from the World's largest nickle mine in Sudbury, Ontario

That's your fun fact for the day


What the fark is "nickle"?

*reads username*

OK, nevermind
2013-01-03 11:37:08 AM  
1 votes:

Peter von Nostrand: SnarfVader: Good. Let's give them Nickelback.

/And Celine Dion back too.

They can have whatever Bieber is too

We're keeping Robin Sparkles, though

[userserve-ak.last.fm image 500x500]


I said a-bang, bang, bangity-bang!
2013-01-03 11:12:01 AM  
1 votes:
Huh. 30% of the World's nickle comes from the World's largest nickle mine in Sudbury, Ontario

That's your fun fact for the day
2013-01-03 10:15:48 AM  
1 votes:
Good. Let's give them Nickelback.

/And Celine Dion back too.
 
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