macke1117
Canadian Penny
In May 2012, Finance Minister Jim Flaherty stamped the last penny at the Royal Canadian Mint. The government announce it's plan of phasing out the penny as production cost exceeds its monetary value: it cost 1.6 cents to produce each penny. By February 4, 2013 the Royal Canadian Mint stopped distributing to financial institutions. It would take 3-4 years for the remaining pennies to be out of circulation.
Canadian Penny
In May 2012, Finance Minister Jim Flaherty stamped the last penny at the Royal Canadian Mint. The government announce it's plan of phasing out the penny as production cost exceeds its monetary value: it cost 1.6 cents to produce each penny. By February 4, 2013 the Royal Canadian Mint stopped distributing to financial institutions. It would take 3-4 years for the remaining pennies to be out of circulation.