Canada getting rid of pennies?

Ph / getmoneyenergy.com

The federal government has decided to stop production on these little guys since they cost a lot to produce and they really don’t carry very much value at all.

The cut back will save about $11 million a year.

You’re probably wondering about purchases that cost $1.04 or $5.12 (after tax). Well, you can still grab that coffee for a loonie, and that eyeliner for a 5-dollar bill and a dime.
*Source: http://www.thestar.com/news/canada/politics/article/1153779–federal-budget-2012-pennies-to-be-withdrawn-from-circulation?bn=1

 

And for all you penny hoarders, time to get those coins out of the jars and get crafting with these cute penny D.I.Ys:

Ombre penny art from mycoveredbridge.blogspot.ca

Penny broaches from marthastewart.com

Additionals:

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