Winnipeg Free Press - PRINT EDITION

Penny's death called pain

Retailer foresees grief after move

  • Print

The end of the penny is a nuisance that will cause confusion, one city retailer says.

There's just over 30 days until the Royal Canadian Mint stops distributing the coin on Feb. 4, 2013.

Ignazio Scaletta, owner of Goodies Bake Shop and Gelati on Ellice Avenue, said the end of the penny is a "big mistake."

On Feb. 4, the mint says "businesses will be encouraged to begin rounding cash transactions."

"Why do we have to change it?... What's the purpose?," said Scaletta.

"Either we are out or the clients are out."

A release by the mint said scrapping the penny will save $11 million per year. The mint manufactures coins, including the penny, in Winnipeg.

The change won't affect transactions made with cheques or electronically.

"As pennies exit circulation, cash payments or transactions only will need to be rounded, either up or down, to the nearest five-cent increment," said the release.

For other city merchants, the move is no big deal. The final amount of a cash transaction is what should be rounded, said the mint, not each item.

"Some people expect their pennies back. Most people that I've encountered in my store don't even acknowledge if I've given them the penny or not," said Gus Tasse, manager of Bargains Galore on Selkirk Avenue. When he runs out of pennies, he said "no one really cares," and people have even offered to give him extras.

Darlene Appleyard, an owner of A Buck or Two in Portage Place Shopping Centre, said she thinks the change will impact her business and challenge the pricing structure.

"I think it will just affect us more in how we address the logistics of our pricing," said Appleyard.

Janine Carmichael, the Manitoba director of the Canadian Federation of Independent Business, said she hasn't received any irate calls from any of the 4,800 members in the province.

She said, to her understanding, businesses are not required to take pennies.

"We have not heard a lot of concerns from our members about it," she said.

"The key thing is that there's been a lot of notice to make these changes, there have been some good resources to help explain what rounding looks like, what their responsibilities are.

"So that's the key piece for business owners, to get prepared."

gabrielle.giroday@freepress.mb.ca

default video player to use on WFP

default video player to use on WFP

Republished from the Winnipeg Free Press print edition January 4, 2013 A6

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Lauren Bacall 'loved' working in Canada

View more like this

Photo Store Gallery

  • Goslings enjoy Fridays warm weather to soak up some sun and gobble some grass on Heckla Ave in Winnipeg Friday afternoon- See Bryksa’s 30 DAY goose challenge - May 18, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • MIKE APORIUS/WINNIPEG FREE PRESS BUSINESS - cow on farm owned by cattle farmer Lloyd Buchanan near Argyle Wednesday afternoon -see Larry Kusch's story  January 04/2006

View More Gallery Photos

Poll

What do you think of the new Blue Bombers uniforms?

View Results

View Related Story

Ads by Google