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26%  
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  • The Coin Analyst: Canadian Mint Plans to Stop Making Cents, and the U.S. Should Do the Same

    05/05/2012 8:37:33 AM PDT · by null and void · 41 replies
    CoinWeek ^ | April 1, 2012 1:13 AM | Louis Golino
    The Royal Canadian Mint‘s 2012 budget, which was issued on March 29, does not include funding for the production of one cent coins, according to Canadian and U.S. media sources. The cost to produce and store the coins, not to mention the hassle of dealing with them, finally drove our neighbors to the north to decide that it no longer makes sense to make cents. According to Canadian Finance Minister Jim Flaherty, as quoted in the Globe and Mail newspaper, “Pennies take up too much space on our dressers at home,” Mr. Flaherty added. “They take up far too much...