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Canada drops the penny

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  • Description

    Will US follow suit?

  • Duration 1:44
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This month will mark the end of the Canadian penny because taxpayers are losing money American taxpayers are experiencing similar issues.

The United States -- spends more than double the worth of pennies -- Nickels to produce them in distribute them 2.4 one cents for pennies.

An eleven point 18 cents for -- the US -- is actively researching to find more economical ways to produce our coinage for example lowering their weight or mixing the medals with different alloys.

Some wonder if the days are numbered for using small change in America justice happened historically.

It used to be a Palestinian.

-- 1857.

And at some points -- argument -- For every dollar of pennies issued by the US -- we lose a dollar and forty cents for -- we lose a dollar 24 cents.

In 2011 taxpayers lost sixty million dollars producing pennies and 56 and a half million dollars producing -- getting rid of small change would cause merchants to round up which would affect the -- more than the wealthy some experts say at some point computers may take the place of physical coins and bills.

Think there will come a time when the recordings will be something just for a museum.

Probably not in my lifetime perhaps in my sixteen year old son's lifetime.

We -- the electronics will get so easy so cheap.

That even -- you wanna go Google local candy store and just by seventeen cents.

Of -- -- you use any credit card.

Critics arguing everything electronically would not be fair because consumers would have no choice but to have a record of all their purchases.

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