Most Canadians agree five-cent coin should stay in circulation

Seven years after the federal government withdrew the penny from circulation, Canadians are showing some hesitation about doing away with the country’s five-cent coin.

A recent poll by Vancouver’s Research Co. found more than a third of Canadians (36 per cent) agree with abandoning the five-cent coin while more than half (55 per cent) disagree.

The results vary by age, with Canadians aged 18-34 more likely to suggest the nickel should be abandoned (41 per cent) than those aged 35-54 (39 per cent) or 55 and over (29 per cent).

CENT REMOVED IN 2013

As for the penny, three-quarters of Canadians agree with that coin’s removal from circulation in February 2013.

Again, the results vary by age with Canadians aged 18-34 more likely to welcome the decision to abolish the penny (81 per cent) than those aged 35-54 (74 per cent) and those aged 55 and over (72 per cent).

“On a regional basis, one-in-five residents of Atlantic Canada (21%), British Columbia (20%) and Ontario (also 20%) seem more nostalgic about the penny,” said Research Co. President Mario Canseco. “The proportion is lower in Saskatchewan and Manitoba (18%), Alberta (15%) and Quebec (14%).”

When the Royal Canadian Mint stopped distributing one-cent coins on Feb. 4, 2013 (about a year after it stopped producing them), it cited research that found the penny’s production, shipping and storage costs far exceeded its market value.

The results from the recent poll, which was conducted online last Nov. 25-27, are from 1,000 adults in Canada. The data was statistically weighted according to Canadian census figures for age, gender and region, and the margin of error is plus or minus 3.1 percentage points 19 times out of 20.

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