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Old 07-18-2022, 12:40 PM
 
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Is it time Canada discontinue the nickel? We did the same thing with the penny.


They cost more to make than their face value as far as I know.


Who even uses nickels?




EDIT: Ops I made a mistake can someone change the word penny to nickel in the title?
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Old 07-18-2022, 03:24 PM
 
Location: B.C., Canada
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In Canada we regularly use nickles, dimes, quarters, loonies and toonies.

I use pennies as weights.

.
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Old 07-18-2022, 06:40 PM
pdw
 
Location: Ontario, Canada
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Maybe the Brit’s were onto something with pounds and shillings after all. Seems like with inflation the decimal system is becoming obsolete
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Old 07-18-2022, 08:31 PM
 
Location: Boston, MA
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Hong Kong is one such place that eliminated their cent coin decades ago. HK only has 10 cents, 20, cents, and 50 cents for small change. The HK dollar is so low however that the small change is hardly worth anything anymore. I could see HK get rid of all small change one day. I do not think Canada or the US are at that stage yet. Getting rid of the penny is one thing but to eliminate the nickel, you'd also likely have to eliminate the quarter dollar and then mint the half dollar (50 cent piece) for general circulation. I don't see how much money Canada can save by doing that.
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Old 07-18-2022, 09:15 PM
 
Location: Toronto
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The problem with getting rid of the nickel is that the cost of goods would invariably go up as in rounded up instead of down. With inflation what it is these days, now is not the time imo.
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Old 07-18-2022, 11:05 PM
 
Location: Etobicoke
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No vending machines still accept nickels.
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Old 07-19-2022, 01:02 AM
 
Location: Alberta, Canada
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Quote:
Originally Posted by Urban Peasant View Post
Hong Kong is one such place that eliminated their cent coin decades ago. HK only has 10 cents, 20, cents, and 50 cents for small change. The HK dollar is so low however that the small change is hardly worth anything anymore.
That has certainly happened before. Before they adopted the Euro, Greece and Italy had no smaller demonination coin than the drachma and lira, respectively; even though each was divided into 100 lepta and 100 centisimi (again, respectively). But then, the Greek drachma was worth ~3.5 cents (late 1970s), and the Italian lira was worth less than a cent (early 1980s), so smaller denomination coins made no sense.

I think the Canadian dollar is a long way from that point. We did the correct thing in getting rid of the penny, but nickels still have a use, even if it's nothing more than being able to make exact change for a $3.30 coffee from the local coffee shop.
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Old 07-20-2022, 03:50 PM
 
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Have you found American coins in your change?
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Old 07-20-2022, 08:07 PM
 
Location: Boston, MA
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Originally Posted by Suesbal View Post
Have you found American coins in your change?

What has that got to do with the thread? But if you're really that curious, yes American coins do occasionally end up as change in Canada, especially the smaller denominations.
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Old 07-20-2022, 08:40 PM
 
Location: Toronto
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Quote:
Originally Posted by Urban Peasant View Post
What has that got to do with the thread? But if you're really that curious, yes American coins do occasionally end up as change in Canada, especially the smaller denominations.
I was shopping at an Aldi in Detroit not long ago, and I had no U.S quarters and needed one to insert into the shopping cart. What does a Canadian do in such a circumstance - well i'm not forfeiting my Aldi experience of course lol - SO I used a Canadian quarter - and it worked! Shockingly, the cart you use going in isn't the one you use going out. You see, when i took my the contents out of my cart the cashier loaded them into another cart waiting at the other end with a U.S quarter in it. Well i'm not going to admit to my malfeasance here so I left well enough alone.

Point is - there is a CAD quarter collected by another Aldi Shopper that day in circulation in the Detroit area, and as such CAD coins do end up in circulation in the U.S - at a Local Aldi near you and if you end up with one - pssst you can use it and it can have a purpose
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