The price of that wish just got more expensive...
Canadian Penny Killed In Canada Budget 2012
OTTAWA (Canadian Press) -- There may still be pennies from heaven, but they won't be coming from the mint much longer.
The humble one-cent piece is set to disappear from Canadian pockets, a victim of inflation.
Thursday's federal budget said the Royal Canadian Mint will strike the last of the little coins this fall.
The budget says the cost of minting a penny has risen to 1.6 cents or $11 million a year. Its purchasing power has fallen to a 20th of its original value.
"Some Canadians consider the penny more of a nuisance than a useful coin," the budget documents said.
Canadian Penny Killed In Canada Budget 2012
OTTAWA (Canadian Press) -- There may still be pennies from heaven, but they won't be coming from the mint much longer.
The humble one-cent piece is set to disappear from Canadian pockets, a victim of inflation.
Thursday's federal budget said the Royal Canadian Mint will strike the last of the little coins this fall.
The budget says the cost of minting a penny has risen to 1.6 cents or $11 million a year. Its purchasing power has fallen to a 20th of its original value.
"Some Canadians consider the penny more of a nuisance than a useful coin," the budget documents said.
"A penny for your thoughts" origin
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