A proposal for the penny

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Apparently we are in for tough times. This would normally mean that we need every penny that we can muster to weather this economic storm. Yes, every penny including the penny itself.

Our federal government wants to get rid of the penny, stating that it costs more to produce, 1.6 cents, than it's worth.

I remember as a small boy, a long time ago, finding a penny. In that moment of adrenalin rush, I felt the power of wealth, the transformation of myself into a purchaser, a person of means. I did not need a handout; I could step up to the counter and purchase my own Double Bubble gum.

I am not the first to write about this kind of occurrence and I won't be the last. There have been many times in my life since then that my total wealth has been measured in pennies.

I suggest to you that if gasoline is measured in tenths of a penny, then there is still value in this often beat-up coin. If the government is looking for a bargain, I have one for them. Just offer to buy back my pennies from me at a price of $1.20 for a hundred. The government will save .4 of a penny for each penny turned in to the bank and I will be rewarded for saving them for all these years. Let's call it ‘Penny Day'. This will drastically increase the amount of pennies in circulation all over the country and at the same time, cut the production and delivery expenses of the Royal Canadian Mint.

Now, what to do with that .4 of a cent of government savings? Why not start a ‘penny trust' and have the government support it with its penny saving. Make it so that in every bank and financial institution it will be available to be deposited into by local people. Why not keep it for benefiting local needs? It's like saying that if we find a penny we are going to spend it on the most deserving need that we have. You see that born in the penny is the optimism for a brighter tomorrow. No more handouts, please; I am a person of means. I have a penny for what I need and I am a Canadian.

Graham Ayers,



Organizations: Royal Canadian Mint

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