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  7. Canada's Penny heads into retirement

Canada's Penny heads into retirement

  • VillageBelle
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04 Feb 2013 12:58 #121080 by VillageBelle

Distribution of the Canadian penny ends Monday, but with about six billion of them in circulation, it's not clear how long the little coins will stay in use.

The penny is being retired because it actually costs 1.6 cents to produce and the federal government believes it can save $11 million a year by getting rid of the coins.

While the last penny was actually produced by the Royal Canadian Mint on May 4 and they're not going to be distributed any more, Mint spokeswoman Christine Aquino said pennies remain legal tender and can still be used for purchases or exchanged at financial institutions.

www.theprovince.com/news/Canada+penny+he...t/7913978/story.html

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04 Feb 2013 13:08 #121083 by chairman
a penny for your thoughts?
Always tell someone how you feel because opportunities are lost in the blink of an eye but regret can last a lifetime.
cricketwindies.com/forum/

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  • VillageBelle
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04 Feb 2013 14:14 #121116 by VillageBelle
now it will be.....a nickle for your thoughts!!

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  • Watooka
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04 Feb 2013 14:21 #121125 by Watooka
The penny just dropped..

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