Tuesday, May 15, 2007

WEIGHING IN ON THE ONE AND TWO DOLLAR COINS:

NOTE TO SELF: Buy new wallet...again


The Royal Canadian Mint a while back decided to replace $1 and $2 bills with gold-colored coins. The rationale behind it is that paper money wears out especially the lower denominations that are used more often and replacing them with metal money is more cost effective.

Makes sense, right?

It might make sense to the Mint but it sure don't make sense to we Canadians! At first it was kind-of "different" but as time wore on as did our wallets/pocket books, many of us longed for the "good old days" when paper bills were the norm. Wallets, many of which are not manufactured in Canada, are not created to withstand the weight of large coins, neither are they designed to hold large coins. So along with your plethora of pennies, nickels, dimes, quarters plus the loonies and two-nies, it's a weighty situation. Sore shoulder-itis is a common affliction and the coins in general are also a pain in the butt.

Buoyed with confidence that they did a good thing saving the tax payers money, the Mint hinted through the media that a $5 coin could be in the works. This did not go over well with Canadians and at present it remains on the backburner. Let's hope it stays there. Forever.


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