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Ricky Leong

Tag Archives: finance

Pennies for your thoughts

31 Saturday Mar 2012

Posted by Ricky Leong in Canada, photography, politics

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Tags

canada, coins, economics, finance, money, numismatics, photography

Another day, another Maple Leaf.

Penny for your thoughts

So the Canadian one-cent piece is headed for the dustbin of history. With the federal budget, unveiled Thursday, these coins will be phased out of production this fall as a cost-saving measure. Each piece apparently costs the government 1.6 cents to mint, which makes them something of a drag on the public purse.
While I feel a little bit of nostalgia for them, I will not miss them in my everyday transactions. Most of my purchases are made electronically. When I do use cash, I go to desperate measures to rid myself of the one-cent coins.
I will miss seeing the Maple Leaf, though. I wonder if the Royal Canadian Mint has given any thought to using the leaf motif on another common coin, or perhaps moving it to one of the lower-denomination polymer banknotes, which have yet to be released.
In any case, this year’s coin collector sets sold by the Mint have suddenly taken on some extra significance …

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Journalist by trade, photographer for fun. I help make multi-platform content at Postmedia in Calgary. Opinions expressed here are my own.

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