Re: “A penny still has value.”
In around the 1950s, faced with similar massive devaluation of the franc, the French sensibly minted new francs worth 100 old ones.
We should do the same here with the dollar. The new penny would then be worth an old dollar. Half-penny coins might again prove useful enough to mint, and shin plasters (25 cent bills) could be revived.
Even with a hundredfold increase, the Canadian dollar would likely still not regain its full initial value. My mother worked for 50 cents a day in the 1930s.
Don DeMille
