Canada stops making pennies

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by CNN

khou.com

Posted on February 5, 2013 at 1:10 PM

ALBERTA, Canada -- Pennies may be lucky, but they are being shown the door in Canada.

As of Tuesday, the royal Canadian mint is no longer distributing the copper-colored coins. The penny is being retired because it costs 1.6 cents to produce.

Canadian government officials believe they can save $11 million a year by getting rid of the coins. Even though they are no longer being distributed, pennies can still be used for purchases or exchanged at banks.
 

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