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Did You Know?
It costs 1.6 cents to make a single penny.
This is one reason why the Government of Canada is phasing out the penny.
Starting February 4, 2013, the Government of Canada will stop distributing pennies.
For cash payments and change owed, retailers will decide how to adjust the final cash amount.
Here’s an example of how the rounding works:
Rounding - Text Version
Electronic transactions will not be impacted.
For further information:
Visit Canada's Economic Action Plan - Phasing out the Penny
or call 1 800 O-Canada.