The very last Canadian penny was minted on May 4, 2012. The Canadian government decided it was time to be rid of the coin as its manufacturing costs were more than the penny was worth. It was costing approximately 1.6 cents to produce each penny.
Moving with the times, and making the transition easier, Sunshine Lodge & Cottages has decided to be rid of the small change by all residents donating their pennies to Brittney DeLeeuw’s baby fund, a housekeeping and kitchen aid at the Lodge who will soon be going on maternity leave.
“We thought we would take the initiative and it’s going to a good cause. I know sometimes seniors get a bad wrap for paying for things with small change but it’s not just seniors who do that. I think my wife is the worst for that,” said Marcel Augey in a joking manner, activities co-ordinator at Sunshine Lodge.
Following a resident meeting, the response to the idea of going penniless was quite positive said Augey. After presenting the facts as to why the penny was being eradicated, he said the majority of residents were on board, especially when it meant higher stakes for penny bingo.
“There will be nickel bingo now instead of penny bingo. That was received very well,” said Augey.
The penny will slowly be phased out starting February of 2013, when the mint will stop distributing them to financial institutions.
Even though pennies are not being manufactured anymore, they will be accepted in cash transactions as long as people have them, they just won’t be given back in your change. When making change for cash purchases, cashiers will use Swedish rounding, going up or down to the nearest nickel.
Electronic transactions will not be affected, they will still be paid to the nearest one cent.
“We used to buy lots of candy with pennies. I liked the black licorice pipes and jawbreakers,” said Edith Sulliman, a resident at Sunshine Lodge, reminiscing about the old days.
