Bid Farewell to Pennies and Nickels!Submitted by Bob-45 on Wed, 11/28/2012 - 20:51
NOVEMBER 26, 2012
The penny has run out of luck, both in Canada and in the United States. Back in March, the Royal Canadian Mint announced that they were phasing out the penny due to “low purchasing power and rising production costs”, according to CBC News.
Canada was pigeon-holed into this decision after the penny decreased to 1/20th of its original purchasing power, becoming an unnecessary “burden on the economy.”