Losing the Canadian Penny
Here we go again, more about the penny. Earlier this year, the government of Canada announced that they will stop producing the penny- apparently it’s more expensive to make than it’s worth. It costs 1.6 ¢ to create a 1¢ penny. In 2010, the Royal Canadian Mint spent $11 million to distribute $6.9 million worth of pennies. Now comes the question, how does this affect businesses, small and large?