the nd of the penny

Countdown to the end of the penny

by _QR77 Newsroom

Time is running out for businesses to prepare for a world without the penny. In just two weeks, Canadian businesses have been told to stop using the penny in their cash transactions. That means they've got to get busy preparing to round up or round down their  merchandise to the nearest nickle.
Ben Brunnen, Chief Economist with the Calgary Chamber of Commerce says it's important that merchants get the price adjustments made to their merchandise.
The move by the Mint to stop producing pennies is expected to save about 11 million dollars a year. Brunnen expects it could take as long as 6 years to get rid of all of the 6 billion pennies in ciruclation.