Will The Nickel Soon Be Gone?

This story pops up every couple of years.

Entertaining thoughts of eliminating the nickel coin and $5 Banknote are just ridiculous and not in the best interest of Canadians in my opinion.

Both still have buying power and more importantly aren't regarded in the same way the lowly penny was.

I believe the nickel still costs less to produce and rounding up to the nearest dime would be problematic at best.

I guarantee that Canada will implement a practical and logical solution to the nickel problem long before the US finally ditches the cent and/or one dollar note.

I'd be happy if they got rid of the 5c and the 10c. It takes 39 nickles to buy a large coffee at Tims, or nearly 20 dimes. I don't see a lot of purchasing power there. Digital transactions already make up the bulk anyway, meaning coin use is already in decline.

Yes, I get that and it's barely noticeable since we got rid of the 1 cent coin. Eliminating the nickel may be a bit more of a challenge.

From what I was able to find through a few internet searches, cash amounts from 1-4 cents would be rounded down and 6-9 cents rounded up. The stickler is amounts ending in 5 cents which some sources suggest could go either direction.

On the bright side, those meager Casino cash out slips would suddenly be worth much more. At less than half the weight, it sure beats going home with a pocket full of nickels.

Either way, personally I rarely use cash anymore, let alone coins.

The "Euro" system of 10/20/50 frequently comes up with this topic. I think cash registers and vending machines are the biggest hurdles (juggling two sets to denominations during the transition), although that might become less of an issue with decreasing use of cash.

Yes the topic frequently arises and before the Euro the great urban myth that reared it's head as a contentious topic was that Canada would adopt the British pound system. It was especially heightened at the time Canada converted to metric measurements and looking back, it's never been truly successful other than most of us have learned to become semi-proficient in both imperial and metric because of our close ties to the US.

Canada is a North American country, not a European country, so why would we want to adopt their currency system. While it is somewhat different, it's no better or no worse than ours. There is a vast amount of US and Cdn coin that trickles back and forth between the borders. What of that? Sure Canada receives European visitors but it's a drop in the bucket compared to our associations to and from the US.

As well Canada has barely completed releasing 25c steel.-plated quarters, millions or billions of them. For no good reason, to recall all of it (.which would take a decade or more at least) and implement a dual system in the meantime while forcing the costly changeover in automated coin machines?....which in turn would cost our government a tremendous amount of money with no benefit whatsoever at the same time that responsible government expenditures are high on the list of significance, meanwhile the majority of us only need to look in our pockets entirely void of coin to know that a cashless society is slowly but surely approaching.