Feb 04, 2013
By Bob Komsic
Soon there will be no more “penny for your thoughts.”
As of today, the one-cent coin will begin to disappear from the Canadian economy.
The Royal Canadian Mint will stop distributing it to stores and financial institutions.
Finance Minister Jim Flaherty announced the move in his budget last March because the copper coins cost almost twice as much to make as they’re worth.
Stores will start rounding costs up – or down – to the nearest nickel
The penny will still be accepted at banks.
Some charities are offering to take them off your hands.
The coins will be melted down for their copper and zinc.
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