Last pennies to be made today
May 4, 2012 at 8:09 am in News by TheNewsGirl
Five weeks after the federal government announced the penny would no longer be produced, the last of the one cent coins be made today at the Royal Canadian Mint facility in Winnipeg.
Although Canadian pennies will no longer be manufactured, they will be accepted in cash transactions for as long as Canadians hold on to them.
Eliminating the penny would save the government $11 million per year. One reason for getting rid of the coin is that it costs 1.5 cents to produce one penny.
Published May 4th, 2012