News penny

Published on March 15th, 2013 | by Pete

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Time running out to spend a penny?

‘The times, they are a changing’, said Bob Dylan. And he is right. We are slowly moving towards a cashless society, and I’m not sure how much longer we will be handing around notes and coins. Canada are getting ready to move the penny out of circulation, although over there it is of course the Canadian cent. Part of their logic might be the fact that it costs them 1.6 cents to make each cent coin, and they stopped producing these in February 2013. Luckily, the remaining cents out there will remain legal tender for a bit longer, and the change will apparently save the federal government there $11 million annually.

So what do you think? Do you agree with me that it is probably only a matter of time before we start saying goodbye to our cash in Britain? Do you care? Let us know what you think…

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