Author Topic: Canada is killing their penny  (Read 3920 times)

dogboy

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Canada is killing their penny
« on: March 31, 2012, 01:14:44 PM »
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TORONTO (AP) They clutter your dresser and cost too much to make. They're a nuisance and have outlived their purpose.
Finance Minister Jim Flaherty was talking about the Canadian penny and why the Royal Canadian Mint will end its production this fall as part of his austerity budget.

[...] A government statement said New Zealand, Australia, the Netherlands, Norway, Finland, Sweden and others "have made smooth transitions to a penny-free economy." It said penny production cost $11 million a year, and that the coins, which feature two maple leaves and Queen Elizabeth II in profile, would remain legal tender until they eventually disappeared from circulation.

http://news.yahoo.com/canada-pennys-drop-history-093150832.html

...and from another forum I frequent:
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i have over 20- full 50 caliber ammo cans of pre '95 Canadian copper pennies, each weighing 71-75lbs...many more in US copper pennies, been sorting for years..

i will sell them if the price changes from the bullion copper price they now fetch to copper penny bullion buyers on the bay.....it is a good test, the US penny is here to stay..2013 brings new law into effect .."metals composition changes".. made mainstrean news a moment ago, and the internet this afterward... wonder if what they will do to our coinage here in USA.....copper penny bullion already sells, and it sells and i buy PM's with proceeds, when we do....

>Grab all the Nickels now before it's to late!
i already have most of them,LOL!!! as i have posted since day 1 here...been exchanging $100 bills almost weekly, weekly for a few years now, and a few buys of 10 boxes at a time, i have more than i "thought" i would ever need to resell when bank boxes of US nickels no longer existed... but i will still stock up, cause i believe they can be profitable some day,and i do have the room, they stack great, its been a joke in a way to my close family, along with the pennies... been extreme..it is a joke to some here too..all cool, i can respect that...