Content Tagged As penny

1 year 8 months ago

In Canada, the phase out of the penny begins

TORONTO (AP) - Canada has begun phasing-out its penny, whose production costs have come to exceed its monetary value. The Royal Canadian Mint on Monday officially ended its distribution of one-cent coins to financial institutions. While people may still use pennies, the government has issued guidelines urging store owners to...

2 years 7 months ago

Canada to rid itself of the penny

TORONTO (AP) - Canada has announced it is scrapping the penny. The humble one-cent piece is set to disappear from Canadian pockets, a victim of inflation. Canadian Finance Minister Jim Flaherty announced in the federal budget on Thursday that the Royal Canadian Mint will strike the last of the little...

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