Picture via Tim Reid, Research in Motion.
The copper penny is an outmoded and unusable dinosaur, writes Stephen Gordon:
“My view is that we should toss the penny and the nickel altogether. The reason is simple: today’s dime has the buying power of a penny circa 1946 in both Canada and the US. I defy you to go to any store, anywhere, armed only with 9 cents and with the challenge of buying something. Anything.
If it’s necessary, we can still quote prices in cents for certain items: gasoline prices are already quoted up to one-tenth of a penny, even without a $0.001 coin.”
February 15th, 2007 at 5:42 pm - Edit
[...] We’ve complained before about the penny, but we’ll always take the opportunity to flog a dead horse. [...]