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http://www.ctv.ca/servlet/ArticleNew...hub=TopStories

A new study says it doesn't make 'cents' to keep the penny.
In fact, only 37 per cent of Canadians still use the coin for purchases, found a survey conducted by Desjardins Group.

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To keep the pennies in circulation, Canadians are losing about $130 million per year in production, storage, transportation and various costs, say the economists that conducted the research.


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Francois Dupuis, vice-president and chief economist at Desjardins' Economic Studies Department, said he doesn't think removing the penny will increase prices.
"Cash transaction amounts would be rounded symmetrically to the nearest five cents. For example, transactions where the final price would be $9.98, $9.99, $10.01 or $10.02 would go for $10. Those of $10.03, $10.04 or even $10.06, would go for $10.05," Dupuis said.