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  Canada getting rid of the penny to save costs
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ContributorRP 
Last EditedRP  Mar 30, 2012 02:52pm
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News DateFriday, March 30, 2012 10:00:00 PM UTC0:0
DescriptionCanada is ditching production of the penny, saying it costs more to make the coin than it's worth.

As of this fall, the Royal Canadian Mint will cease distributing Canadian pennies, though consumers will still be able to use them for transactions. The change was included in the country's 2012 budget released Thursday.

The budget calls the lowly penny a "burden to the economy."

"It costs the government 1.6 cents to produce each new penny," the budget says, adding the government will save about $11 million a year with its elimination.
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D:1RP ( 3311.3784 points)
Sat, March 31, 2012 12:45:51 AM UTC0:00
The cost isn't just the material, it's the machines to make them and their upkeep and people to man them as well as the transportation and personnel costs to distribute them. Difficult to get all that under a cent in costs.