Published: Friday, Feb. 01, 2013 / Updated: Friday, Feb. 01, 2013 12:27 PM
Canada begins phasing out penny Feb. 4
Next week Canada will take another step in phasing out its penny.
After Monday, Feb. 4, the Royal Canadian Mint will stop distributing Canadian pennies. Canadian businesses handling cash transactions are being encouraged to round transactions to the nearest nickel. Transactions paid for by check, credit card or debit card won't be subject to rounding, according to a news release from the Royal Canadian Mint.
Pennies still can be used in cash transactions with Canadian businesses that choose to accept them.
The elimination of the penny is expected to save Canadian taxpayers around $11 million a year.
Lake Wylie Pilot is pleased to be able to offer its users the opportunity to make comments and hold conversations online. However, the interactive nature of the internet makes it impracticable for our staff to monitor each and every posting.
Since Lakewyliepilot.com does not control user submitted statements, we cannot promise that readers will not occasionally find offensive or inaccurate comments posted on our website. In addition, we remind anyone interested in making an online comment that responsibility for statements posted lies with the person submitting the comment, not Lake Wylie Pilot.
If you find a comment offensive, clicking on exclamation icon will flag the comment for review by the administrators, we are counting on the good judgment of all our readers to help us.