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