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Canada Smartly Abolishes Pennies: Should America Follow This Common Cents Move?

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By HVvids on April 2, 2012

The federal government is often pegged as an inefficient machine. Nowhere is that more apparent than in the production of our little copper-plated zinc friend: the penny.

Did you know that, as a result of rising materials prices, it costs 2.41 cents to make an American penny? That’s almost double what it cost to make a penny just half a decade ago. Is it finally time to ditch the virtually worthless currency? Canada, our friends to the north, had the good cents sense to do just that, which got a big cheer from anti-penny cheerleaders like C.G.P. Grey, the Internet’s foremost Explainer.

So Canada is in for penny in for a pound on this whole money restructuring thing. But is it the right thing to do for America? C.G.P. Grey explains in his “Death to Pennies” segment:

Author and vlogger John Green gets pretty worked up about the penny, but he ups the ante. Nickels suck, too. Should we get rid of the penny *and* the nickel? Green explains why we should:

So do they make a good case? Is it high time to ditch the penny? Weigh in below …


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