CPM Forum
Coins, Bullion, Medals, etc. => Canadian Coins => Topic started by: Elwoodbluesca on May 03, 2012, 02:57:27 pm
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This end has come quickly.
http://www.cbc.ca/news/canada/manitoba/story/2012/05/03/mb-last-penny-mint.html?cmp=rss
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The current/Final cent production are they made in Copper Zinc or Multi-ply Steel?
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You hear Jim Flaherty say the "penny" a couple of times in the clip. He should refer to the Canadian coin as a "one cent coin" instead of the American wording, "penny".
Just my two cents. ;)
Here's a CBC Link:
http://www.cbc.ca/news/canada/manitoba/story/2012/05/04/mb-canada-last-penny-mint.html
(on the leftside of the news article, there are video clips of the speech and raw video the striking of the last one cent coin)
As for the 2012 one-cent pieces, the Mint seems to have issued both circulating copper zinc (non-magnetic) and multi-ply steel (magnetic) coins. The multi-ply steel (magnetic) coins were issued with a lower mintage (although it's in the millions).
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The multi-ply steel (magnetic) coins were issued with a lower mintage (although it's in the millions).
Those are the only ones i've seen so far.
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You hear Jim Flaherty say the "penny" a couple of times in the clip. He should refer to the Canadian coin as a "one cent coin" instead of the American wording, "penny".
Just my two cents. ;)
It's not just American wording. "Penny" has been used in both the USA and in Canada (and in Britain too) for more than a century. Even the RCM uses the term: http://www.mint.ca/store/mint/learn/eliminating-the-penny-6900002
There's no difference in usage between Canada and the USA. See here the US Mint refers to their cent coin as just that; a cent: http://www.usmint.gov/about_the_mint/fun_facts/?action=fun_facts2
The idea that "'One cent coin' and not 'penny' is the proper Canadian term for the coin" is prevalent among the collecting community, but it is a myth.
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You hear Jim Flaherty say the "penny" a couple of times in the clip. He should refer to the Canadian coin as a "one cent coin" instead of the American wording, "penny".
Just my two cents. ;)
Keep the change. ::)
This stupid tired debate isn't worth it.
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I've seen a few cases dated May 9th 2012.
Where did you see that the Magnetic ones have a lower mintage? I thought the Zinc ones were rarer.
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Looks like the life of the penny has now been extended till February 2013. So i would guess now we can expect a circulation issue of the 2013 Cent. But if they do mint a 2013 cent it may only be a small batch possibly making it a scarce cent. Something to watch.
http://ca.finance.yahoo.com/news/penny-gets-last-minute-stay-execution-retailers-complain-201228791.html (http://ca.finance.yahoo.com/news/penny-gets-last-minute-stay-execution-retailers-complain-201228791.html)
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Apparently they will not be minting any 2013 cents. They will only be distributing the 2012's they still have.
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Interesting for certain. I have a bit of inside info that might be of interest. The mint produced about 55 million 1 cent pieces per month in 2011, if production remained the same and the last 1 cent coin was pressed on May 5 2012 it would mean they minted around 220 million. Most of these were sitting in depots accross the country that the mint was paying to have stored per pallet. These were sittting idle until just recently. They released a few million in the early part of 2012. It seems that they are now being relesed to circulation. I was sitting on a few boxes because I thought they would be rare. But if the stocked up 2012's are to be released they may not be worth as much as I thought or what some guys are paying on ebay. $125 and up per box. I have a few left for those who dare. :-\
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I can tell you right now that the 2012 cents will not be rare. Just the other day i got a bunch of them in change. Both varieties.
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I can tell you right now that the 2012 cents will not be rare. Just the other day i got a bunch of them in change. Both varieties.
Out of boredom...and curiosity....I went to 3 different banks yesterday and asked for 10 rolls of pennies from each bank
Out of the 30 rolls ...24 were 2012.....4 were mixed...1 was all U.S. pennies, and one was all 1967 centennial pennies.... :)
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Will the RCM continue the penny as non circulating legal tender? Has anyone heard anything?
Apparently they will not be minting any 2013 cents. They will only be distributing the 2012's they still have.
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Dean, unless something has changed at the RCM i believe they will continue to be minted but only as non-circulation coins (for sets). http://www.cdnpapermoney.com/forum/index.php?topic=12871.0 (http://www.cdnpapermoney.com/forum/index.php?topic=12871.0)
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From what I've read so far, the Mint has been promoting the commemorative $2 baby wolves specimen set and holdiay sets as the last ones to contain the 1 cent coins.
Dealer ads suggest this lowly denomination will no longer be included in collector sets. Already some of the lower priced uncirculated sets have seen the omission of the 50 cent piece, yet they remain in the more expensive ones.
Guess we will have to wait and see if the Mint follows through.
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Apparently they will not be minting any 2013 cents. They will only be distributing the 2012's they still have.
Funny you mentioned this, because ever since the 2012 pennies were first released, I have not seen any such pennies in my change. Maybe the banks in my region are just recycling whatever pennies exist, realizing the end is nearing, and it doesn't justify ordering any more new pennies when they will only be in circulation for a few months.
So yeah, I think it's safe to assume that the banks where I live are not interested in the 2012-minted pennies. To them, it's just not necessary anymore.
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Interesting. Seen lots of 2012 pennies here in montreal in change. Both coinage varieties.