Monday, February 4, 2013
RIP Canadian Penny
Today is the last day that the penny will be distributed in Canada. Apparently costs 1.6 cents to produce a penny, and the Canadian government believes it will save something like $10 million a year by getting rid of the coins. It's estimated that it will take three to four years to get them out of circulation.
I rolled all of my pennies last year (I had almost $20 worth!) and since then I've been trying to use them up as I get more. I probably have a small handful left in the bowl o' change that sit by the front door. The nostalgic/collector/pack-rat side of me wants to hang on to them - just like when the Canadian dollar bill got changed to the Loonie, I still have a small collection of old one dollar bills stashed away somewhere. (And let's not talk about how our paper money is now being converted to plastic money.) Anyway, all that to say; RIP Canadian Penny. It's been swell.