rQy Herman Kellerman
@RoyHermanKellerman
04 January, 01:23
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It was phased out in Canada back in May of 2012, it really wasn't a big issue,
How Rounding Works:
Cash Payments: Totals are rounded to the nearest 5 cents (e.g., $1.02 becomes $1.00, $1.03 becomes $1.05) after taxes are calculated.
Non-Cash Payments: Debit, credit card, and cheque transactions are still processed to the exact cent.
Why It Was Removed:
It became uneconomical to produce, costing more than the penny's face value.
Surveys showed Canadians were using them less, and the cost of making them was significant.
How Rounding Works:
Cash Payments: Totals are rounded to the nearest 5 cents (e.g., $1.02 becomes $1.00, $1.03 becomes $1.05) after taxes are calculated.
Non-Cash Payments: Debit, credit card, and cheque transactions are still processed to the exact cent.
Why It Was Removed:
It became uneconomical to produce, costing more than the penny's face value.
Surveys showed Canadians were using them less, and the cost of making them was significant.
02:27 PM - Jan 04, 2026
In response rQy Herman Kellerman to his Publication
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