On February 4, the Royal Canadian Mint will stop distributing Canadian pennies, ending 155 years of penny production in Canada. The rising cost of producing pennies relative to its value was the main reason for its phaseout. With the penny gone, the country is estimated to save $11 million annually. This week’s Canada Soup bids farewell with a roundup of news and opinion on the diminutive, soon-to-be-extinct one-cent piece.
For a fun and graphically rich history of the penny, check out the Royal Canadian Mint’s infographic, which includes many fun facts like, “A penny weighs roughly the same as a small hummingbird: 2.35 grams.” Pretty cool! [Royal Canadian Mint]
Maclean’s provides a wonderfully in-depth history of the penny. From its unfortunate, lowly beginnings to its association with eastern Canada and subsequent antagonism from the west to Jack and Timothy Eaton’s clever ploy to saturate all of Canada with pennies, the humble one-cent piece has had quite a life! [Maclean's via TCE]
The CBC poses “5 odd questions about the death of the penny,” and they are indeed questions worth asking! [CBC]
Enjoy a slideshow of pennies throughout Canadian history, from the first Canadian penny in 1958 to the modern penny with the profile of Queen Elizabeth II. [Vancouver Sun]
How do Canadians feel about the phaseout? According to an Angus Reid poll, two thirds (68%) of Canadians agree with the decision. Quebeckers (73%), British Columbians (71%) men (73%) and those over the age of 55 (70%) were more likely to agree with the penny phaseout. [Angus-Reid]
Brainy YouTube explainer CGPGrey praises Canada’s decision to phase out the penny in his much-loved witty and straight-forward manner: