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Extra, Extra: No More Pennies, Twice as Many Floating Rectangles

Every weekday’s end, Extra, Extra collects just about everything you ought to care about or ought not miss.

Photo by {a href="http://www.flickr.com/photos/sinagorge/8442313429/"}-sina-{/a}, from the {a href="http://www.flickr.com/groups/torontoist/pool/"}Torontoist Flickr Pool{/a}.

Photo by {a href=”http://www.flickr.com/photos/sinagorge/8442313429/”}-sina-{/a}, from the {a href=”http://www.flickr.com/groups/torontoist/pool/”}Torontoist Flickr Pool{/a}.

  • You already know this if you’ve visited Google even once today, but the penny is now officially out of circulation. They’ll be collected and melted down. One day our children will ask why all prices end in either zero or five, and we’ll just smile knowingly.
  • Oh look: an artist from Markham came pretty damn close to winning the New Yorker‘s annual cover contest. [Via Karen K. Ho]
  • Architect Will Alsop has designed a condo that may one day be built in midtown, and it looks, well…somewhat similar to his other famous Toronto building. Does any city need more than one floating rectangle?
  • Hoarding alert: Second Cup is increasing the price of its coffee, but it won’t say by how much. Bring a jerrycan and get while the getting’s good.

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Comments

  • wklis

    The Canadian dollar is at or near par with the American dollar. That means the American penny is at or near par with the Canadian penny. That means the Americans will be minting the penny for Canada, for free.

    • JohnnyD

      Huh. I hadn’t thought about the international effects of the penny phase-out. In the past, when banks got rolls of pennies, they could presumably just recirculate them, regardless of whether they were US or Canadian.

      But what happens now? I assume the US doesn’t want the Canadian Mint destroying American legal tender. Are we sending armoured cars full of pennies across the border to be exchanged for real money?

    • torontothegreat

      Correct me if I’m wrong, but I don’t think 1 penny is on par for anything…

    • tyrannosaurus_rek

      I suspect we will quickly reach a point in which a significant number of pennies in circulation will be easily spotted as American, at which point retailers will simply refuse them (perhaps because banks will as well). “Quickly” meaning anything from 5 to 25 years.