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V13 2010 INDEX       E-SYLUM ARCHIVE

The E-Sylum: Volume 13, Number 19, May 9, 2010, Article 26

IN POLL CANADIANS VOTE AGAINST KEEPING THE CENT

As a follow-on to the article he sent us last week on Canadian cent, Dick Johnson adds this: "In a recent poll, Canadians voted 74 to abolish the coin to 26 in favor of keeping it. The same article said it would save Canadians $25 million a year by abolishing the cent coin." -Editor

penny-canadian The penny has outlived its usefulness and should be scrapped, says P.E.I. Senator Catherine Callbeck.

Callbeck is on the Senate's national finance committee, which is preparing a report on the value of the penny. On cost of production alone, it represents a loss for Canadians, Callbeck told CBC News.

"The raw material in the production of the penny costs more than a penny, so that roughly the direct loss to the taxpayer every year is $25 million," said Callbeck. She said the Senate wants to hear from Canadians on the issue.

To read the complete article, see: Penny: Is it time to get rid of the one-cent coin? (www.cbc.ca/news/pointofview/2010/05/penny
-is-it-time-to-get-rid-of-the-one-cent-coin.html)

To read the earlier E-Sylum article, see: CANADIAN PARLIAMENT STUDIES ABOLISHING CENT COIN (www.coinbooks.org/esylum_v13n18a20.html)

Wayne Homren, Editor

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To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com

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