Canadian Penny is Being Phased Out in 2012

Canadian Penny

The Canadian government has stopped funding the production of the Canadian penny, and will withdraw them from circulation later this year. Each Canadian penny was costing the government 1.6 cents to produce; eliminating them altogether will save an estimated 11 million Canadian Dollars. The American penny, by contrast, costs 2.4 cents to produce.

via National Post

photo via Royal Canadian Mint

Written by EDW Lynch

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