On the day that distribution of the Canadian penny
by the Bank of Canada to banks and others stopped
, marking a final day for the one-cent coin
, I spied this 8 1/2x11 poster on the window of the Sobeys grocery store
at 503 Bloor Street West
The Government of Canada is phasing out the penny. Starting February 4, 2013, pennies will no longer be distributed to our stores. Pennies are still legal tender and will continue to be accepted for cash payments.
For cash payments where changes is owed, your change will be rounded to the nearest five-cent increment, using the following Government of Canada rounding guidlines:
$1.01 or $1.02 $1.00
$1.06 or $1.07 $1.05
$1.03 or $1.04 $1.05
$1.08 or $1.09 $1.10
This rounding approach may not be adopted by third party service providers operating within our store environment. Please check with those providers for their policies related to the elimination of the penny.
Electronic transactions such as debit and credit cards don't need to be rounded, and will not be impacted.