Well that’s it, after 158 years the Canadian Mint is pulling the plug on the penny.
Cash transactions will now be rounded to either .00 or .05. For example .01, .02, .06 and .07 will round down and .03, .04, .08 & .09 will round up. The Canadian Mint has a good FAQ on the procedure with pictures. Electronic transactions will not be affected.
For those of you feeling nostalgic for our poor friend the penny or simply coin collectors, the Canadian Mint released a special wrap roll of the 2012 1 cent coins. I love the historical significance of it but last time I checked that should be 50 cents not $9.95 CAD a roll. Check out the info-graphic of the history of the penny entitled the Life and Times of the Canadian Penny on their site.
Even Google has gotten in on things with a Google doddle for our poor penny. The funny thing is that 2013 is visible as the year on the penny and the Canadian Mint did not mint any with that year. Looks like Google has taken some artistic license with their doodle.
Hold on to that lucky penny you find on the street, it has now become a rarity and doubly lucky.