No nickels in New Zealand
Tuesday, November 13, 2007
This just in from EU in New Zealand: "So good, I had to share. In NZ they got rid of the nickel since it was just a waste of time, but not in the US. If you got rid of the penny then you might have to admit that you had a little inflation."
Also see Coins of New Zealand and Coinflation where a link to this story in the Toronto Star sits atop the page:Proposal to ban U.S. coins in Toronto shot down
Everybody seems to be keeping their sense of humor about the declining dollar.
Cost of screening out lower-value currency would wipe out any savings, city advised.
A proposal to ban the use of American coins was met with incredulity, caution and skepticism from the city's transit and parking agencies yesterday, which expressed doubts that doing so would save much money.
American quarters, dimes, nickels and pennies are often tossed into fare boxes, slipped into parking meters and traded at concession booths.
The city traditionally accepts the coins at face value, partly because of the hassle involved in culling them.
The plan proposed by Councillor Howard Moscoe suggests city bodies refuse the coins, now that the loonie trumps the American greenback.
"There's a glut of U.S. coins being dumped in the economy," Moscoe (Ward 15, Eglinton-Lawrence) said yesterday.
"The city's going to lose millions if it continues to accept them," he added.
3 comments:
We lived in NZ for 6 months. Their trick of rounding your bill worked well. But paying at a till could be slow because all the youngsters preferred paying electronically rather than handing over cash.
Funny the canucks had no problem accepting our coin when it was at 1.20 against theirs... (and we had none against accepting theirs). Now that it's at .96 its totally an issue.
In NZ the cash register rounds up and then down every other purchase if the price ends on with a nickel. But by far the fastest check out is electronic, I hate to see the old folks pull out the checkbook, or cash.
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