04 May 2022
The last Canadian penny was struck in Winnipeg, Manitoba on 4 May 2012. Ten years later, the Royal Canadian Mint is commemorating the coin with a 2022 5 oz. One-Cent Fine Silver Coin with the title '10th Anniversary of the Farewell to the Penny'.
The coin features a modern interpretation of the penny’s familiar twin maple leaf and twig design.
A statement from the Mint explained:
"The re-imagining of G. E. Kruger Gray’s 1937 design is achieved by a dazzling array of geometric facets that radiate light at multiple angles from the centre of a 99.99% pure silver selectively gold-plated coin."
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The Royal Canadian Mint announced the decision to stop minting pennies in May 2012 due to the rising costs of production and handling. The production officially halted on 4 February 2013, meaning no new pennies have been entered into circulation since then.
However, the penny is still legal tender and accepted in many outlets.
Even though it is a decade since the decision, members of the public can still take their pennies into their bank and exchange them for higher denomination coins, should they wish to, as long as they are 'rolled or wrapped' for deposit.