As World Continues Move To Becoming Cashless Canada Discontinues Using The Penny

The Canadians are doing what the U.S. has not been able to accomplish: Eliminating the money-losing penny. The Canadian government has announced that it will stop distributing the Canadian penny beginning in the fall, with the gradual goal of removing it from circulation.
The Canadian penny will soon be a relic of the past. (Michel Viatteau / AFP - Getty Images)
NOW THE END BEGINS SHARE:

The government said people can continue to use pennies for as long as they want, and non-cash transactions will still go to the penny.

RELATED STORY: Bible Prophecy In The News As Sweden Moves To Be World’s First Cashless Country

The Canadians are doing what the U.S. has not been able to accomplish: Eliminating the money-losing penny. The Canadian government has announced that it will stop distributing the Canadian penny beginning in the fall, with the gradual goal of removing it from circulation.

The Canadian penny will soon be a relic of the past. (Michel Viatteau / AFP – Getty Images)

The move, unveiled as part of the Canadian government’s overall budget proposal, comes down to cold, hard cash. That is, the cash that can be saved by removing the penny from circulation.

The government said it expects it can save about $11 million Canadian dollars (about $11 million USD) a year by not supplying the penny, because the cost to produce a penny is more than the penny’s face value.

The Canadian government said in a release that, by contrast, the other coins it makes are worth more than the cost of production.

The government said people can continue to use pennies for as long as they want, and non-cash transactions will still go to the penny. But as they gradually are removed from circulation, people should begin rounding to the nearest denomination. The government laid out ways to do that.

The United States is in the same situation when it comes to coin making, but we have yet to eliminate any of our beloved coins.

It takes about 2.4 cents to make a U.S. penny, and a whopping 11.18 cents to make a nickel. That’s why the U.S. Treasury secretary has proposed cheaper manufacturing and administrative methods aimed at reducing production costs.

The Canadians said they are joining the ranks of other countries that have removed their lowest-denomination coin from circulation, including Australia, Norway, Switzerland and the United Kingdom. source – MSNBC

Now The End Begins is your front line defense against the rising tide of darkness in the last days before the Rapture of the Church

When you contribute to this fundraising effort, you are helping us to do what the Lord called us to do. The money you send in goes primarily to the overall daily operations of this site. When people ask for Bibles, we send them out at no charge. When people write in and say how much they would like gospel tracts but cannot afford them, we send them a box at no cost to them for either the tracts or the shipping, no matter where they are in the world. Even all the way to South Africa. We even restarted our weekly radio Bible study on Sunday nights again, thanks to your generous donations. All this is possible because YOU pray for us, YOU support us, and YOU give so we can continue growing.

nteb-gospel-tracts-street-preaching-end-time-last-days-bible-prophecy-dl-moody

CLICK IMAGE TO ORDER YOUR BOX OF NTEB GOSPEL TRACTS

But whatever you do, don’t do nothing. Time is short and we need your help right now. If every one of the 13,131 people on our daily mailing list gave $4.50, we would reach our goal immediately. If every one of our 151,781 followers on Facebook gave $1.00 each, we would reach 300% of our goal. The same goes for our 14,500 followers on Twitter. But sadly, many will not give, so we need the ones who can and who will give to be generous. As generous as possible.

“Looking for that blessed hope, and the glorious appearing of the great God and our Saviour Jesus Christ;” Titus 2:13 (KJV)

“Thank you very much!” – Geoffrey, editor-in-chief, NTEB

 


 

 

 

NTEB is run by end times author and editor-in-chief Geoffrey Grider. Geoffrey runs a successful web design company, and is a full-time minister of the gospel of the Lord Jesus Christ. In addition to running NOW THE END BEGINS, he has a dynamic street preaching outreach and tract ministry team in Saint Augustine, FL.
SUBSCRIBE NOW

Join Our FREE Subscription Service!

End times Bible prophecy news happens fast, add your email now to get our latest articles sent to your inbox in real-time.

Join 13,851 other subscribers