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Dropped Penny

19 Nov

Ah, but I won’t really miss you … Read this great article on Canada’s latest loss!

Downies Blog

In a major break with tradition, Canada is doing away with the humble penny. Citing cost of production and weakened buying power due to inflation, the Canadian Government is to phase the 1 cent piece out of circulation from February 2013. 2012 is the last year the penny will be struck for circulation and the change is causing quite a stir amongst numismatists, for a number of reasons. It’s also leading some to speculate that the Australian 5 cent piece could be next.

A coin with a fascinating history, the Canadian penny denomination was, from 1858 to 1908, struck in England and shipped to Canada for use in circulation. The penny would ultimately become one of Canada’s first domestically produced coins, with the recently opened Royal Canadian Mint first striking the denomination in 1908. With several dates from the penny series attaining notoriety due to interesting background events or great…

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4 responses to “Dropped Penny

  1. dcmontreal

    November 23, 2012 at 3:04 pm

     
    • tkmorin

      November 23, 2012 at 3:06 pm

      Tooney Thoughts?

       
  2. xpat92

    November 20, 2012 at 2:59 am

    Hi tk,
    Wow, a very interesting piece of info. I have to save some pennies from our past trips!
    In France, there was talk to end the 1 cent pieces but, it was shot down… the argument was this would jack up prices more due to the “rounding off”… Easy come,easy go… 🙂

     
    • tkmorin

      November 20, 2012 at 4:40 pm

      Yeah, that’s something I’ve wondered about. Still, they are a pain to carry around in the change purse: heavy, dirty, and it’s not often I bother to give the change at the store — I usually give a dollar and take the change. Funny thing, though; last month I finally brought ALL my coins to one of those automatic sorter machine (and get a voucher for total) and it came to over $200!! That was nice. Got “free” groceries that day. 🙂
      Tkmorin

       

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