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 Replies: 12 / Views: 1,801 |
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Pillar of the Community
United States
997 Posts |
From the Ottawa Citizen today: "...there are no plans to privatize the mint's operations, eliminate the nickel or make other changes to Canadian currency in an effort to balance the books by 2015." Full article at http://www.ottawacitizen.com/news/2...0/story.html |
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Pillar of the Community
Canada
726 Posts |
I want the 5 c to go......I also want a $5.oo coin,,,,not a loon or twoonie, but a fiver..
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Pillar of the Community
Canada
785 Posts |
 with everything except wanting the nickel to go. |
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Pillar of the Community
 United States
997 Posts |
I would be surprised if they eliminated the 5c coin anytime soon. I don't know if it would be more economical to use some other material (zinc, aluminum etc.) but look how long it took to get rid of the cent north of the border.
That said, Canada has been more progressive when it comes to coins and currency than the US has. Look at the Loonie and Twoonie with the elimination of the corresponding bills as well as the aforementioned cent coin. I wouldn't be surprised to see a $5 coin in a few years north of the border.
As for the 5 cent coin, who knows...
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Valued Member
Canada
335 Posts |
A foonie or fivie doesn't sound that good :), as for the nickeli probably don't think there will be any sign of consideration by 2020.
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Pillar of the Community
798 Posts |
Remember this, if they do stop it with the nickels all of them will be recycled and all the old and valuable ones from circulation as well, errors and whatever else. if they did stop them I wonder how much money it would save the government, also don't we already have a $5 bill?  |
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Pillar of the Community
United States
997 Posts |
There was also $1 and $2 bills that were replaced by coins. The thinking is that a $5 coin would directly replace the $5 bill as coins last longer than paper and would be cheaper in the long run.
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Pillar of the Community
Canada
532 Posts |
Dime for your thoughts? They won't eliminate the nickle yet.
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Pillar of the Community
Canada
1700 Posts |
I personally don't see the point of manking 5 dollar coins. It would bring in more counterfeits.
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Valued Member
Canada
329 Posts |
i think you might have a point. $1 and $2 is just change (nothing)in the minds of most canadians I think. my wife had a $5 bill given to her at a fast food place about 2 yrs ago. Walmart questioned it when she tried to pay. luckily the fast food manager agreed to give me 2 burgers (cost them less than $5) and that settled it. so...$5 is still worth something and worth counterfeiting. they will have to wait till it also has less buying power. as for the nickle. lets just say this... I still want my 2 cents back...lol. |
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Pillar of the Community
United States
997 Posts |
I am pretty much ambivalent on a $5 coin, heck on my side of the border we don't use the dollar coin much at all and don't even have a $2 coin...
With that said, the use of coins for purchases of the values $5 or $10 or so will buy today is hardly new. In just my lifetime the purchasing power of the US dollar as well as the Canadian dollar has decreased by about a factor of 10, more or less. What a $5 bill buys today could have been bought with a couple quarters back in the early 60's.
Unless you want to revalue the currency, the use of coins for purchases of these sizes was already a common thing, if anything inflation reduces the usefulness of coins.
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Pillar of the Community
Canada
838 Posts |
When the 5 cent coin is eliminated there may also be a move to eliminate the quarter and bring back the half dollar.
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Pillar of the Community
Canada
746 Posts |
I hope they keep the nickel and the quarter and get rid of the dime! The dime is too small and just, well... boring!  |
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Replies: 12 / Views: 1,801 |
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Posted 02/18/2014 7:57 pm
