Canada penniless as it marks coin's end

MrsJrotax101

MrsJrotax101

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Canada penniless as it marks coin's end

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Canada's last penny was struck Friday at The Royal Canadian Mint's manufacturing facility and will become a museum piece as the one-cent coins are withdrawn from circulation.
"For over a hundred years, the penny played an important role in Canada's coinage system," said Finance Minister Jim Flaherty.

"Although the cost of producing the penny now outweighs its value to Canadian consumers and businesses, it has had a long history that is worthy of recognition."

The last penny struck for Canadian circulation will be entrusted to the Currency Museum of the Bank of Canada in Ottawa, he said.

Flaherty announced in March the end of the penny, saying it would save the Treasury $11 million per year in manufacturing and distribution costs, as the government looks to trim its budget deficit.
Due to rising labor, metal and other manufacturing and distribution costs, each penny cost more than 1.6 cents to produce.

The penny will retain its value indefinitely and can continue to be used in payments, but as the coins are gradually removed from circulation, cash transactions will have to be rounded to the nearest five-cent increment.

Over the past five years, the Mint's plant in Winnipeg, Manitoba, produced 7,000 tonnes of pennies annually.

Article from: http://news.yahoo.com/canada-penniless-marks-coins-end-182928552.html
 
This was long overdue. I think it was around 8 years or more ago now when copper had a huge spike in it's value and the penny has been costing more than it's worth ever since.
 
one thing that usually doesn't seem to come up in the conversations about the coins is life span. A paper bill or whatever ends up being taken out of production due to wear/tear way before you'll find coins take out of the supply chain. So, while it may cost more to produce the coin, it also stays floating around way more than paper currency. You can find coins every day that are 30, 40, 50+yrs old without issue. The same cannot be said for paper
 
I read a thing saying the flushing thing isn't true in the southern hemisphere
 
http://en.wikipedia.org/wiki/Flush_toilet#Swirl_direction



Swirl direction

It is a commonly held misconception that when flushed, the water in a toilet bowl swirls one way if the toilet is north of the equator and the other way if south of the equator, due to the Coriolis effect – usually, counter clockwise in the northern hemisphere, and clockwise in the southern hemisphere. In reality, the direction that the water takes is much more determined by the direction that the bowl's rim jets are pointed, and it can be made to flush in either direction in either hemisphere by simply redirecting the rim jets during manufacture. On the scale of bathtubs and toilets, the Coriolis effect is too weak to be observed except under laboratory conditions.
 
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