I saw a Twitter tweet from a penny today. Not a woman named Penny, but a penny coin. The Canadian penny, to be exact.
The Canadian government recently announced its intention to eliminate the penny as a cost saving measure. In a last ditch effort to save face (value), the Canadian penny took to Twitter. And now, the determined discus has launched a media blitz to have its two cents heard.
Canada is ditching production of the penny, saying it costs more to make the coin than it's worth. As of this fall, the Royal Canadian Mint will cease distributing Canadian pennies, though consumers will still be able to use them fo... Read Post
The Canadian government has stopped funding the production of the Canadian penny, and will withdraw them from circulation later this year. Each Canadian penny was costing the government 1.6 cents to produce; eliminating them altoget... Read Post
The Canadian government has begun to phase out the penny, saying it's too expensive to produce the coin. Besides its "excessive" production value, Canada has long cited the significant handling costs for the nation's retailers and e... Read Post