Canadian Penny Enters Elimination Mix
A new bill was introduced yesterday that proposes the elimination of the Canadian penny. Abolishing a country’s smallest denominated coin is not new. It has certainly happened in the past, and several countries are publicly debating the issue or implementing a recall of their smallest coin right now.
As examples, in recent months and weeks there has been talk of Russia removing their one-kopek, Denmark saying goodbye to their 25-øre and Malaysia abandoning their one-sen.
Unlike the dilemma other countries face, like the U.S., the cost to manufacture the Canadian penny is actually less than its value. That’s one less obstacle to overcome for those who would like to keep it.
