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When Was the Last Time Canada Abolished Its Smallest Coin?
I have long advocated abolishing the penny (one-cent coin, as it is properly called) in Canada [see here, here, and here, for example]. I'd be just as happy to get rid of the nickel and quarter, too and round everything to one decimal point.

Imagine my surprise and wonderment (and possible enlightenment) when I read today in a NYTimes column by Austan Goolsbee that
Most economists, then, argue that we should use this opportunity to abolish pennies the way Canada, Britain and the European countries that use the euro abolished their smallest coins.
I'm pretty old, and I have lived in Canada for over 35 years. I don't remember when this happened or what coin it was. Can someone please help me (and possibly Austan) out? Thanks.

Update #1: Austan sent me e-mail saying,
Ack! It was supposed to be Australia not Canada. Thanks for finding the gaff. I will send them a note.
Update #2: He followed up with this:
Actually, my original source informs me that a couple of Canadian provinces had half-cent coins in the mid 1800s that they got rid of, just like they did in the U.S. (so 35 years there makes you but a babe), so the statement was not incorrect.

More relevant to the current discussion, though, I meant that Australia had dumped its penny. And New Zealand recently did, too.
Category: Economics, Pennies Posted on Thursday, February 1, 2007 at 10:45am
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Chris R (mail):
It's the NY Times -- why would they start fact checking now? It was hilarious to read Michael Crichton's latest book -- he skewered the Times very well with its many corrections.

I think it plays into that whole "Fake but Accurate" syndrome. A reporter has a story with a point of view or opinion, and then MAKES UP facts to support their opinion.
2.1.2007 11:30am
Acad Ronin:
Alternatively, do a redenomination and make the one cent meaningful again. Recently Turkey did a 1,000,000 to 1 reform of the turkish lira, and while doing so brought back the 1/100th denomination.
2.2.2007 9:21am
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