IN POLL CANADIANS VOTE AGAINST KEEPING THE CENT
The E-Sylum (5/9/2010)
Book Content
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)