Most Canadians are happy with the disappearance of the one-cent coin from their currency, a new nationwide Insights West poll has found.
In the online survey of a representative sample of Canadians, 73% of residents agree with the federal government’s decision to take the penny out of circulation four years ago, while only 20% disagree.
The strongest supporters of the penny's termination is observed among men (77%), Canadians aged 55 and over (also 77%) and British Columbians (85%).
In spite of these results, few Canadians are in favour of eliminating the nickel and having the dime as Canada’s smallest valued coin. When asked if the five-cent piece should be taken out of circulation, 58% of Canadians disagreed with this course of action.
There is a generational divide on the future of the nickel. Canadians aged 35-to-54 (58%) and 55 and over (71%) voice a strong level of opposition to scrapping the nickel. Those aged 18-to-34 are split: 44% would ditch the nickel, and 45% would keep it.
“Millennials are more accustomed to paying for small purchases through technology than older Canadians,” says Mario Canseco, Vice President, Public Affairs at Insights West.
“This helps explain why they would be more likely to support the demise of the nickel than their older counterparts.”
The Royal Canadian Mint stopped making new pennies in May, 2012, after the government announced in its spring budget it's discontinuing the coin. On February 4th, 2013, the Mint stopped distributing pennies to financial institutions, marking an official end to the era of the penny.
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