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Penny pinching will cost you in the end

There is another push to dump the much-maligned penny. It turns out the cost of making the darned thing is half again as much as it's worth.

There is another push to dump the much-maligned penny.

It turns out the cost of making the darned thing is half again as much as it's worth.

If the cost factor isn't enough to swing sentiment in favour of getting rid of the penny, the fact everyone hates having a handful jangling around in their pockets should be.

But before we get too far down that road, consider, for a minute, what getting rid of the one-cent piece will mean.

It's quite simple.

I'll break it down for you.

Things will cost more.

Don't think for a minute rounding up and rounding down will allow you to break even over the course of numerous transactions.

Just like there's no crying in baseball, there's no rounding down in business.

In fact, there will, in some cases, be considerable rounding up.

If you're going from 93 cents why stop at 95? Rounding up to the nearest even dollar makes far more sense.

The scary thing, though, is people might go for it.

The penny is so universally hated people might still be in favour of killing the copper.

And if you're sitting there thinking "yeah right, I'll live with a couple of cents now and again," you might want to give your head a shake.

People in this province were livid when the Liberals scooped up some federal money and replaced the PST and the GST with the HST.

You actually gained a penny on that transaction.

Oops bad word.

If I can't appeal to your financial cents, maybe I can appeal to your common sense.

What do we do with all those sayings we've all grown up with.

Sayings like:

Nickel wise is often pound foolish.

Not a nickel off the pay; not a second on the day.

In for a nickel, in for a pound.

A nickel saved is a nickel earned

Count the nickels, the dollars will take care of themselves.

And then there's the concept of that rare old bicycle everyone remembers.

The bike with the one large wheel.

What will will we call it now, a nickel-farthing.

I can't make up my own mind but I do know the penny is like friendship, it's easier made than kept.

Penny for your thoughts.