The End of the Canadian Penny… What Are You Doing with Yours?

by Janice

On February 4, 2013, the Royal Canadian Mint stopped distribution of the penny.

end-of-canadian-penny

With the cost of producing pennies more than their value, the Canadian government decided to do the sensible thing and put an end to the Canadian penny.

But what to do with all those pennies?

Canadians are asked to bring their unwanted pennies to banks and other financial institutions so that their pennies may be taken out of circulation and the metals recycled.

Some are suggesting donating extra pennies to charity, but other sources say that donating pennies is not actually a cost-effective way for charities to net decent money.

What Are You Doing With All Your Pennies?

Every time Olivia sees a water fountain, she begs for pennies to “make a wish.”

So, this Sunday, when she asked me, “Can I have a penny?” I went into my car, grabbed my leftover pennies and told her to go to town!

what-to-do-with-canadian-pennies

The drawback I see to running out of pennies, is that now when Livvie wants to toss a coin into a wishing well or water fountain, it is going to start costing me more money. Maybe I should hold on to some pennies after all. *wink*

Tell Us…

Canadians, what are you doing with all your old pennies?

Americans, do you think that the US should get rid of the American penny?

Written by Janice Croze, co-founder of 5 Minutes for Mom.

Wanna chat? Find me at: @5minutesformom, @janicecroze and Facebook.com/5minutesformom.



Email Author    |    Website About Janice

Janice is co-founder of 5 Minutes For Mom. She's been working online since 2003 and is thankful her days are full of social media, writing and photography. You can see more of her photos at janicecrozephotography.com.

View all articles by

{ 6 comments… read them below or add one }

1 lisa lo February 18, 2013 at 10:26 pm

Feng shui..layer them on your steps leading into your house. like attracts like. Bring more money to your home :o) So far, so good for me.

Reply

2 Janice February 20, 2013 at 1:49 am

I can just picture a whole new Canadian tradition of penny paths into our homes. ;) Good idea!

Reply

3 Melissa P. February 19, 2013 at 10:30 am

I don’t see how the US would even begin to do away with the penny. In my state, sales tax is 6%. That is 6 cents on every dollar. The penny would be needed in order to produce change unless sales tax goes down to 5% or up to 10%. I don’t even want to think about it. Ugh.

Reply

4 Janice February 20, 2013 at 1:50 am

At first I was overwhelmed by the thought and then I realized, how often do I actually pay in cash anyway??? And if I do, I would much rather round to the nearest five then deal with pennies. So, I think I am all ok with it. Hasn’t happened to me yet in a store though.

Reply

5 Jennifer Donovan February 19, 2013 at 3:04 pm

I wish the U.S. would do it as well, because it also costs more than a penny to make. I know what Melissa is saying as well, though, so I’m not sure how they’d deal with that!

Reply

6 Janice February 20, 2013 at 1:51 am

I imagine the US will follow eventually…

Reply

Leave a Comment

Previous post:

Next post: