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Canada doesn't have a $2 bill it has a coin. This isn't a good comparison. We shouldn't have $1 or $2 bills because they fall out of circulation too fast, but
by keep_reading 3y ago
Canada doesn't have a $2 bill it has a coin. This isn't a good comparison.
We shouldn't have $1 or $2 bills because they fall out of circulation too fast, but everybody interested in this topic knows it already.
It's bizarre how antiquated our cash is and how there is no appetite for removing the penny from circulation either. I really thought we were going to pursue this like 20 years ago but nope... our government is too dysfunctional for even these types of changes
- tredre3 3y agoCanada withdrew its $2 bill in 1996 (when it introduced the coin) but it was still pretty common until 2000. Canada also withdrew its penny in 2012. There's been talks of withdrawing the 5c coin recently but I doubt it will happen soon.
- cherrycherry98 3y agoThat and the need to introduce large denomination bills. The $100 bill has been the largest in circulation since 1969 while it's buying power has significantly reduced due to inflation. $100 in 1969 is over $800 inflation adjusted dollars. Our government seems insistent on phasing out cash in favor of digital mechanisms they can track more easily.