The Cape Breton Farmers’ Market has started a community wide penny collection, with the goal of raising 100,000 pennies or more to support market activities in the future, CBFM manager Morningstar Pinto announced today.
“The penny may be pesky to some, but for a non-profit organisation like ours, collecting every penny we -can just makes cents! We are hoping to take people’s unwanted copper and turn them into funding dollars to support education, experience and fun at the Cape Breton Farmers’ Market,” says Pinto.
After hearing that the penny was scheduled to be removed from circulation, the CBFM decided to talk pennies and start a campaign while it was fresh in the minds of community members.
“We would like to take back the penny,” says Pinto. “It has been called the currency with no currency, and we would like to challenge that statement. When you rely on community support to remain viable, every penny counts.”
The campaign begins today and will run until the initial goal is reached. Depending on the success of the campaign, it may continue on beyond its initial target. There will be a penny total update monthly on the Cape Breton Farmers’ Market website.
The Royal Canadian Mint will cease distribution of the one-cent coins in late 2012.
The penny will retain its value indefinitely and can continue to be used in payments, but as they are to be gradually removed from circulation, price rounding to the nearest five-cent increment on cash transactions will be soon be required.
The Cape Breton Farmers’ Market is located at 340 Keltic Dr. in Sydney River, and will be accepting donations on Saturdays from 8:30am to 1pm. Individual pick-up will be arranged for large donations.