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Pennies are shown in Ottawa on Thursday, March 29, 2012. (AP Photo/The Canadian Press, Sean Kilpatrick) Pennies are shown in Ottawa on Thursday, March 29, 2012. (AP Photo/The Canadian Press, Sean Kilpatrick)  

Canada’s penny heads into retirement

The Province
Contributor

Distribution of the Canadian penny ends Monday, but with about six billion of them in circulation it’s not clear how long the little coins will stay in use.

The penny is being retired because it actually costs 1.6 cents to produce and the federal government believes it can save $11 million a year by getting rid of the coins.

Full story: Canada’s penny heads into retirement