If you are planning a trip north of the border, please understand how this will work. If you choose not to heed our foreign currency advice, here are the details: Transactions in cash will be rounded, either up or down, to the nearest 5 cent increment Typically this will even out from transaction to transaction and leave you will a lot less jingle in your pockets. Credit card transactions will be unaffected.
Canada has gone the way of Australia, Sweden, the Netherlands and a handful of other nations to eliminate the 1/100th coins. New Zealand has even gone the next step and eliminated their 5 cent coin with very little outcry. The nation's leaders claim that it will see a savings of $11 million annually by not minting the low denomination coin. With that amount of savings, maybe the trend will come south and we'll consider scrapping our Lincoln head?