Email Newsletter

April 2012

From: Peter’s Mailbox

Re: A penny for your thoughts

Dear Constituent,

Over time, the value of our penny has eroded. Today it retains only about one-twentieth of its original purchasing power. It’s also become clear that there’s no longer a business case to make the penny.  It costs the government 1.6 cents to produce each new penny, or approximately $11 million per year.

Many Canadians recognize that this money could be better spent, which is why our Government has decided that the Royal Canadian Mint will stop distributing the penny this Fall. Pennies will retain their full value, and can continue to be used indefinitely.  Electronic payments will not be affected, and when pennies are not available cash transactions will be rounded to the nearest 5 cent increment.

The elimination of the penny presents a great opportunity for our community to come together and raise funds for our local charities. 

Currently, 105.3 KOOL FM is leading a penny drive to support the Grand River Regional Cancer Centre and their invaluable work in the community. So many lives are touched by this terrible disease, and the Cancer Centre provides a tremendous amount of care and hope as a full service and comprehensive cancer treatment and research centre for the Region.

If you have unwanted pennies that you would like to donate to this great cause, I encourage you to visit http://www.facebook.com/PenniesForCancer for details on how and where to contribute.  Many local businesses are participating in the penny drive, and we also have a collection jar in my Constituency Office, located at 22 King St S, Suite 204 in Waterloo, if that is more convenient.

On Monday, April 30 from 5:30am – 7:00pm in the front lobby of the Cancer Centre, 105.3 KOOL FM will be broadcasting live as part of the We Care About the Cancer Centre Radiothon. I encourage you to stop by and drop off your penny jar.  The Centre is located in the Balsillie Family Building of the Grand River Hospital at 835 King St W in Kitchener.

Before more pennies disappear into the depths of your couch or under the seat of your car, please consider donating your pennies and have them really pay off!

Sincerely,

- Peter

Please feel free to forward this to anyone you think might be interested.

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