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James Bucki

Canadian Mint Stops Distributing Pennies

By February 5, 2013

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The last Canadian penny 2012On May 4, 2012, Canada struck its last penny at the Royal Canadian Mint's high-speed manufacturing facility in Winnipeg. Since this past Monday, the Mint no longer delivers pennies to financial institutions. According to the press release, Shelly Glover, Parliamentary Secretary to the Minister of Finance said, "Pennies have sat idle for too long in forgotten penny jars and couch crevices. They demand too much time, for too little return, of our small business owners, and they cost too much to make: nearly 1.6 cents goes into every penny. It is time to bid the penny a fond farewell."

Ian E. Bennett, President and CEO of the Royal Canadian Mint commented, "Today the Mint is marking the end of an era in Canada's coinage history with the final distribution of the penny," said Mr. Bennett. "The Mint has produced this coin for Canada since 1908, and the sun is finally setting on one small part of our currency system which once played a big part in our daily lives."

Image 2012 James Bucki

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