19 February, 2013

We should get rid of pennies and nickels

EconoMonitor : Ed Dolan's Econ Blog � Can we Get Along Without the Penny? This Chart May Help you Decide: Let’s watch what happens next door in Canada, which stopped putting new pennies into circulation this month. Give it a year. If there is a big spike in Canadian inflation that is traceable to the end of the maple-leaf penny, then we can keep our Lincoln cent. If getting rid of the penny fails to turn Canada into Zimbabwe with polar bears, then we can follow their example.