StanCollender'sCapitalGainsandGames Washington, Wall Street and Everything in Between



U.S. penny

Posted by Stan Collender

In case you didn't hear about it, the Canadian government last week decided to stop minting new pennies. The government says it will save $11 million a year by not manufacturing any more of the coins and instead having businesses round prices to the nearest five cents.

This story by Karen Weise in Bloomberg Businessweek explains some, but not all, of the reasons the U.S. won't soon follow the Canadians and do away with its own penny even though the budget savings would be considerably greater. Some additional things to consider:



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