• Canadian_anarchist@lemmy.ca
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    16 hours ago

    Canada phased out the penny from 2013-2013. It was an adjustment, but it was not chaos. Pennies of certain periods are still taken as legal tender and accepted by banks.

    Per Wikipedia:

    "Cash transactions in Canada are now rounded to the nearest multiple of 5 cents.[54] The rounding is not done on each individual item, but on the total amount, with totals being rounded to the nearest multiple of 5, i.e., totals ending in 1 or 2 round down to 0, totals ending in 3, 4, 6, or 7 round to 5, and totals ending in 8 or 9 round up to 10.[54] This is typical of cash rounding methods (not specific to Canada). While existing pennies will remain legal tender indefinitely, those in circulation were withdrawn on February 4, 2013.[55][48][56]

    Based on technical specifications provided by the Mint Act, only pennies produced from 1982 to their discontinuation in 2013 are still legally “circulation coins”.[57] The Currency Act says that “A payment in coins […] is a legal tender for no more than […] twenty-five cents if the denomination is one cent.”[58] Nevertheless, once distribution of the coin ceased, vendors were no longer expected to return pennies as change for cash purchases and were encouraged to round purchases to the nearest five cents.[59] Goods can still be priced in one-cent increments, with non-cash transactions like credit cards being paid to the exact cent.[60] "

    https://en.wikipedia.org/wiki/Penny_(Canadian_coin)