The penny's future as NCLT

News: Welcome to the Canadian Paper Money Forum.

Hi,

I received a response today from the RCM regarding the future of the 1 cent coin.
Good news!  The penny appears to be staying alive as non circulating legal tender!   

April 25, 2012

Dear Dean,

Thank you for contacting the Royal Canadian Mint. With regards to your inquiry, please note that the penny will be available in future collector sets.For any further inquiries, please do not hesitate to contact us at www.mint.ca/contactus or by phone at 1-800-
267-1871 (Canada), 1-800-268-6468 (US) or at 613-954-2626 (International). Our hours of operation are 8 am to 8
pm (Monday to Friday) and 9 am to 5 pm (Saturday) EST. Your interest in our products is appreciated.

Sincerely,

Chantal Laprade
Customer Service Representative/Représentant du service à la clientèle
Royal Canadian Mint/Monnaie royale canadienne

--------Original Message--------
From: Dean
Sent: 04/25/2012
To: Royal Canadian Mint

With the withdrawal of the penny from circulation, will the RCM continue to issue it exclusively in collector sets
as non circulating legal tender?

The penny appears to be staying alive as non circulating legal tender! 

Good news for the RCM I guess...that way they can charge a few bucks for every penny as they place them in a piece of plastic.... It is to be expected that they continue to screw collectors by charging mutiple times face for coins....

It is to be expected that they continue to screw collectors by charging mutiple times face for coins....

Rolls of 50 cent coins sell for double face, plus shipping, plus GST/HST. And they sell out of them early every year (2012 rolls are already sold out). I would certainly never pay what they ask but considering how many people do, I don't see them stopping anytime soon.

NCLT being so hot these days, I wouldn't be surprised to see them release NCLT $1 and $2 banknotes in the near future.  You heard it here first!   

I was actually surprised that the mint are not even minting NC 2013 pennies, at least for the proof sets. Yet they still mint 50 cent pieces. Oh and lets not forget all those other NC quarters and dollars... why?? 

I was actually surprised that the mint are not even minting NC 2013 pennies, at least for the proof sets. Yet they still mint 50 cent pieces. Oh and lets not forget all those other NC quarters and dollars... why??

50-cent coins may no longer be produced for general circulation, but unlike the penny, and the $1, $2, $25, $500 and $1000 bills, 50-cent coins were not "formally" retired, plus there was no legislation on recalling 50-cent coins.  That's why the 50-cent coin is still being minted for collectors' sets, but the penny is not because it is retired.

50-cent coins may no longer be produced for general circulation, but unlike the penny, and the $1, $2, $25, $500 and $1000 bills, 50-cent coins were not "formally" retired, plus there was no legislation on recalling 50-cent coins.  That's why the 50-cent coin is still being minted for collectors' sets, but the penny is not because it is retired.

It seems odd that the penny still exists as a unit of account.