Scrap the penny, Senate told

The upper house is hearing arguments on eliminating Canada’s lowliest coin.

Canadians could soon be hauling mason jars and coffee mugs full of pennies to cash them in at the bank as the Senate prepares a report on whether or not to eliminate the copper coin once and for all. Among the facts being presented by consumer and business representatives is that each penny costs more than one cent to produce, vending machines no longer accept them, and generally they annoy the hell out of people. Senators are also trying to determine if eliminating the coin would drive prices up or down as retailers round off their prices. There are 20 billion Canadian pennies in existence. The Senate’s report is expected by the end of the year.