Canada decides to be centsless
Centslessness
Is the end to the penny in sight? It was not so long ago that there were still ha'pennies in England and they could actually be used to buy something. So the Canadian penny is going the way of the English ha'penny, is the end of the US penny in sight? Surprisingly a penny is still worth more than some other currencies, for example a penny is still worth more than an Albanian Lek.
The basic problem is that there is a natural tendency for the value of money to decline through inflation. If there is any return from investment then there will be a decline in the relative value of the currency. Considering that what the current US dollar buys is about what two US pennies would buy in 1965 for many commodities, it would seem that the value of the dollar has declined significantly. Will the Dollar be replaced with a "New Dollar" when its value declines below the traditional value of one US penny?