Just a few days into the crushing announcement that Canada will stop producing new cents I find one in my change. Now you will still be able to use Canadian cents in Canada but they will slowly start taking them back. Future value depends on how aggressive this penny recall is going to be. Granted about 35 billion were made so it may not raise the value by much but if a good accounting is done by the Royal Canadian Mint of coins returning and melted that may change.
This has to be the most telling part of the entire disappearing Canada penny stories. Via The Globe and Mail:
Ottawa is suggesting businesses round off cash transactions to the nearest five-cent increment but says it’s leaving this to businesses to work out for themselves.
This rounding off would occur after taxes had been applied to the purchase and would not be necessary for credit or debit transactions.Seriously is there any faster way to get rid cash than cheating people out of 2-3 cents per transaction (they never round down for long). The poor, budgeters, and others who make many small transactions will feel this the most.
Here's the stats...
Type/Country: 1 Cent / Canada
Metal: 98% Copper, 0.5% Tin, 1.5% Zinc
Value: $0.03 in Very-Fine
Also found a 1940 U.S. cent but since I posted about this before it did not need a third appearance on this blog.
Do you have a cent from Canada and want to know its value? Leave a comment/question and I will do my best to find out the price and history for you