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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