This is nothing more than get ready for INFLATION!!!!!!!!!!!
I am waiting for hyper inflation in the US, when that happens, Canada will be attached to the hip.
Or to reflect years of inflation that has already happened.
I'm waiting for us to dump our own penny. It is only worth 5 seconds of minimum wage labor which is below any useful transaction amount. The only time I ever use them is when I am waiting for a long enough time in a fast food drive through that I start poking though my coin pile to see if I can make exact change.
US penny and nickel being phased out.