Filed under: Currency, Government
Commodity metal costs are soaring. So much so that it now costs more for the U.S. Mint to produce a penny (or a nickel) than the coins themselves are worth.
Vexed by the problem, the Obama Administration has put forward a plan to debase the metal content of the coins, to try and bring the cost down.
Up in Canada, however, they took a different approach: They stopped making pennies.
That's right, folks. On May 4, the Canadian Mint minted its last penny.
Technically, the 1-cent...
Canada Kills the Penny and Saves Millions: Why We Should Too originally appeared on DailyFinance.com on 2012-05-08T10:10:00Z.
