The Penny Is Finally Toast

To bad we couldn't get rid of the real problems of wasted money in the government. (Hey look over there the cent is killing us).
The private money sector can handle to 1 cent. The government cannot. Big fail on the governments part... nothing new there... they have the tax payer to pay for their mistakes anyhow.
The 2013 cents will become NCLT's. Then the government corporation will gladly make them for huge profits.
Guess the nickel is next. Then the dime... etc... because hey after-all by getting rid of the cent the problem is solved... oh wait it's not... it's those darn nickels now.

Well considering the extra cost of all the versions of the quarters Canada has for circulation. How many versions are there? A million or two now? Cut some cost and only produce a standard circulation quarter. They gov really has no sense... and if they do it is certainly at YOUR cost.

Yes, DBM, we are pennyless for sure...

In 1921 the RCM minted the 5c/50c coins, sold/gave away some to mint visitors, and then decided not to release them to circulation.

It's probably more likely that they'll overproduce the 2012 cent somewhat to provide enough for the transition period. It seems from the announcement there will not be a 2013 circulation cent.

Some other thoughts:

I guess that means a return to a six coin uncirculated set out of Winnipeg.

If Ottawa keeps producing the one cent for specimen/proof sets, I expect they will use the original bronze alloy, since that planchet is probably cheaper in NCLT quantities.

I predict a bunch of "lucky penny" stuff from the RCM in coming years, to take advantage of nostalgia as the cent is removed.

I wonder what this will do to one cent values over time? Most youngsters start collecting with the one cent. The early 20s key dates tend to be more valuable than scarcer and old large cents. Early 20s nickel 5c are more valuable than silver 5c of similar mintages.

Examples (mintages and prices from jandm.com)

MS-60 1c

1898H - 1,000,000 - $150
1924 - 1,593,195 - $175

MS-60 5c

1917 - 5,521,373 - $40
1929 - 5,611,911 - $75


Possibly hoarding of the silver at the transition is a possibly factor for the 5c. That would make the circulated samples tend to be much higher average grade, possibly depressing the uncirculated too.

If the government really wanted to cut costs and reduce expenses to balance the budget they would look at the money spent on their own pay raises and pensions, we have to work 50 years plus to qualify for a pittance of a pension that wont exist for future generations while they have only to serve 6 months to qualify for a pension that is 4-5 times the national household income level. Lets evaluate why they are paid an annual salary for less time worked than a teacher, or ponder how one MP is worth as much as 5 police officers per year. This has nothing to do with fiscal responsibility it has to do with protecting their own interests. Save the small cent, do away with the Liberals and the NDPs and scrap the rest of them while were at it and come up with a system that works . . . and the imitation democracy this country boasts is NOT the working model of perfection it claims to be, not even the country both my grandfathers fought and died for.The issue is not the penny or one cent if you prefer, the issue is how much will our country be changed before it like the penny ceases to exist.

Libertad =>


=> man, I totally agree => I have a whole barrel full of pennies waiting on-deck to be revalued (that's a great idea!) ... I think all of the old pennies should now be worth $1 each ... does anybody second this motion?

Oh well, that will leave the US Cent as the only still current coin I collect. It is inevitable I suppose, but both my Canadian and US Large and Small cent sets are complete, I just update with each new year.