Goodbye Canadian penny, goodbye great penny idioms


Welcome to a new era in Canadian currency folks.

Our Royal Canadian Mint stopped issuing the penny on February 4th mainly because it costs more money to produce the penny than the currency it represents.  Sure, we can continue to keep using pennies going forward but there is no requirement for stores to accept them.  Eventually, the circulation of these things will dry up over time.

What about penny phrases and idioms?  Can we use those still?

With the penny on the way out let’s a look at some phrases we might have to say goodbye to as well.

Bob is one bad penny.  Every time he comes around he wants to borrow cash.

Tom’s SUV is sweet.  That must have cost a pretty penny.

Did you hear about Michael?  He cut off his kid’s allowance without a penny after his kid quit school!

Preet, I would give you a penny for your thoughts!

A penny saved is a penny earned.

Jim is penny-wise and pound-foolish.

Sadly, Chris doesn’t have two pennies to rub together.

Oh, now I get it…the penny dropped!

Despite his great success, Neil is fairly frugal.  He must be a penny pincher.

My brother-in-law wouldn’t like playing poker with me.  I like penny ante poker games.

Ah, I’ll miss the penny saver ads.  Guess I’ll have to get used to nickel saver ads.

See a penny, pick it up; all day long you’ll have good luck; give it to a faithful friend, then your luck will never end.

When I’m in for a penny, I’m in for a pound guys!

Dave counts his pennies because he has a daughter to send to University.

In my 20s, I bought a few penny stocks.  What was I thinking?

What do you mean, I don’t own Ram a penny!

You guessed it My Own Advisor watches his pennies but not as much as his friend Scott!

Any common penny phrases I missed?  What are your favourites?

Mark Seed is the founder, editor and owner of My Own Advisor. As my own financial advisor, I've grown our portfolio from $100,000 to well over $500,000. Our next big goal is to own a $1 million investment portfolio for an early retirement. Come follow my saving and investing journey by subscribing to my site. Delivered by Subscribe Here to My Own Advisor

22 Responses to "Goodbye Canadian penny, goodbye great penny idioms"

  1. That’s kind of interesting that they are discontinuing the penny in Canada but what do they plan to do when you can’t give someone exact change back?

    On top of that I don’t mind pennies, I know a lot of people who just throw them on the ground and I’m the guy picking them back up and saving them. In fact last year I cashed in an entire milk jar of pennies and got nearly a hundred dollars for it.

  2. What a great collection of sayings for pennies! This is going in my weekly roundup. I keep wondering when they are going to discontinue the penny here in the US. My wife found a great pic on Pinterest where someone tile their whole basement floor in pennies. It was probably cheaper than really buying ceramic tiles!

  3. Cute collection of penny sayings.
    Even though the penny is gone, it’s going to become more expensive for the consumers. So now a $3.71 purchase will cost $3.75 for example. The government saves, businesses don’t lose out (nor should they) and the consumer gets hammered.

  4. @Eddie
    That will depend on the business. The City of Mississauga community centres are rounding up and down to the nearest 5 cents. So a $3.71 transaction would cost $3.70. That’s if you are paying cash. They say that debit, credit and cheque payments will be made to the exact cent.

    I agree, though that some businesses will use it as an excuse to raise prices.

  5. The mint is going to melt down the pennies. You should save yours for scrap copper.
    The melt value of the copper is 1.75 cents now!
    The penny is 98% copper up to issue 1996.
    The issue 1982-92 (flat sided) are slightly thinner therefore more required to maske a pound of melt.


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