Canadian penny, 1858-2013
Feb 04, 2013
The Royal Canadian Mint officially stops distribution of the penny today, Feb 4th, 2013, and price rounding officially begins, though businesses may still accept the coin. Here are a couple of points to help guide you through the transition:
- According to Canada’s Currency Act, you can only spend 25 pennies at once. You can always roll up more and bring them to the bank.
- Prices round up, and down. So $1.01 or $1.02 would round down to $1, while $1.03, $1.04 round up to $1.05.
- Rounding only takes place after taxes have been added.
- If you can’t stand that, use your credit or debit card. You will be charged to the exact cent.