News & Blog

Canada says goodbye to the penny

Posted on Wed, 11 April 2012 by Phil Mussell - General News, Coin News

The 1 cent coin is no more - in Canada anyway. We reported in COIN NEWS some time ago that the Canadians were planning to do away with their smallest denomination - in line with Australia and New Zealand - and now it has finally happened with the Canadian Government officially requesting that the Royal Canadian Mint cease production.

First struck in 1858 the coin was, until its demise, made originally of copper and latterly of copper plated steel (with Zinc making an appearance in 1997-99) however the price of metals has increased so much in recent years that production simply isn't economically viable. We await the effects of this on Canadian inflation with interest...