So proud!!

We are in the idle of our summer vacation, the date is July 15, 2013. We are on the opposite side of the country in one of the major cities in Newfoundland…Gander of all places. We stop to visit the airplane museum, as aviation is something both the kids are interested in. We go through the museum, which is not very large, by any means, and with a 5 year old and a 7 year old, the attention to detail is the very first thing to go. We have been at the museum for about an hour, and they both ask me what mi am looking at. It was looking at a piece of the World Trade Centre. The museum was the proud recipient of an actual piece of an I beam cut from the wreckage of the 911 tragedy. This piece of iron was given to the City of Gander NL in appreciation for what they did to help the world when the US airspace was shut down to air travel. This small community on the eastern tip of Canada population doubled in just a matter of hours, due to planes being grounded. The selflessness of the people of Gander and surrounding communities made it possible for thousands of travels to have a safe haven during a time of uncertainty, and chaos. Along with the this iconic piece of gratitude, the museum had a book of letters. Every letter thanked the people of Gander, and surrounding area for their caring hospitality. I went through almost everyone of these letters, and it was heart wrenching to see the love, and thanks from around the world. There was even a letter from my own home town, from a couple who where grounded in Kansas, but wanted to write to show their appreciation for the communities for the way that they had shown the world the such an amazing representation of Canada as a country. I had never been so proud to be a Canadian.

Although this us an amazing story, and a true proud Canadian moment, the moment came as a parent as both my kids listened intently to me resell the story of 911, and walk them through the visuals of the display. They were a little afraid at first, and we discussed the fear factor, and the “there are bad people in this world” talk. They could not understand how someone could do something to hurt so so many people. (Proud moment #2). About 45 minutes later, they noticed a collection jar. She asked what it is for. I read her the sign that was with the jar, and explained that the money collected is split between helping to maintain the museum and helping those that were affected by the collapse of the towers. Again they both listened, and you could see their wheels spinning. But we continued on with the tour which ended up in the gift shop.

Each of my kids were given $50 to purchase souvenirs along the trip. Which they both did, I gave them their wallets, and they choose their own gifts, which were not the mementos that they usually choose, they choose items that they felt would help the, remember that stop of the trip (a desk piece, and a necklace). Both of their purchases were around $10. (Proud moment #3).

Then the most amazing thing (at least in my eyes) happened. My Son (who is 7) walked up to the collection jar, pulled out and pulled out a $20 bill, and asked my husband to put it in the collection Jar. My husband asked what he was doing, and Jackson’s answered floored me. He said that they need the money more then he needed souvenirs. WOW!! Both my husband and I were flabbergasted that a 7 year old would act so selfless. My Husband turned to my son, and said that his offer was very generous, and that we would give the donation, so that he could use his money for other things. This confused him a little as he watched his father place a $20 bill from his wallet, he then again opened his wallet, and gave his dad a toonie, as a Donation, saying that he wanted to give something of his. (Proud moment #4). Then to top things off he turns to his little sister and tells her that she needs to give something too, explaining that we have a lot of good things, and that it is important to share, and she as well digs in the wallet, and pulls out a toonie to place in the jar. (Proud moment #5).

What a day. They really do listen, and more importantly they understand.

WOW!!

All about the Penny

As Canadians begin to learn to live without the penny, I thought that it would be a good time for some penny facts….

  • The penny was first minted by the Canadian Government in 1858.  It Weighed 4.54 grams, and comprised of 95% copper.  It had a mintage of approximately 421,000.

  • With Inflation a 1870 penny would be worth approximately 31 Cents today
  • Rarest Canadian Penny is the 1936 Dot Coin.  There are only 3 known specimens.  In January 2010 a 1936 coin sold for $400,000 dollars at auction.

Check your pennies….

  • The maple leaf image that we have known for so many years was first struck in 1937, with the iconic image being designed by G.E. Kruger Gray, and had remained  the same since with the only exception being that of the 1967 for the Centennial Celebrations

1937 Penny Canada’s Iconic Maple Leaf Image

Only Deviation from Iconic Maple Leaf Design

  • Queen Victoria (1858-1901), King Edward VII(1902-1910), King George V (1911-1936), King George VI (1937-1952), and Queen Elizabeth II (1953-2012) have all been the face of the penny.
  • 2006 was the highest mintage of the Canadian penny at over 1.2 billion Pennies struck.
  • Last penny was struck on May 4th 2012.  It weighed 2.35 grams (almost half the weight of the original penny), and comprised of 94% steel.  Only 4.5% was copper plating.  It cost approximately 1.6 cents to make the 1 cent coin.

  • Although it is no longer being produced, the penny remains a legal tender of Canada

What will you do with your pennies….

The end of the Penny

It is now official,  the Canadian government has killed the Penny.  As of February 4th, 2013 the penny will no longer be produced or relevant within the Canadian Economy.  Or will it?

You cannot argue with the government reasoning to put the penny into retirement, after all it costs almost double the face value of coin, and in the end is expected to save the Canadian Tax payer $11 Million a year.  But will  the penny ever be irrelevant to the Canadian people.  In my opinion No.  There are so many pennies out in circulation that no one can even hazard a guess as to how many exist.  In 2011 alone the Canadian Mint issued 662,750,000, and over 1.2 Million in just 2006.  (well according to the Mintage numbers posted on the mints website).  Based on the numbers posted, between 2000 and 2011 the Canadian Mint minted approximately 9,519,572,000 pennies.  That’s alot of Pennies.  That’s alot of money sitting in piggy banks, purses, jars, or just laying around.  Pennies just waiting to become something other then a now obsolete currency coin.

What would you do if you found 100 pennies, 1000 pennies, or 10,000 pennies?  Would you put them to good use, or continue to forget about them, and leave them laying around?  One group of Canadians that are hoping to cash in on the retirement of the Penny is our charities.  You see them everywhere right now, penny collection jars.  Please do not let this coin go unused, forgotten, or over looked.  Use your pennies for things that are needed.  They really do start to add up, when they are a collected and used.  Just like any journey, adventure or voyage, they all begin with a single step.  The idea of understanding money, business and finances all begin with 1 lonely penny.