It costs the government about per year to keep us supplied with pennies

$11 million

Starting Monday, the Royal Canadian Mint will no longer distribute Canada's one-cent coin to banks and retailers. The penny will still be legal currency, but Canadian retailers might not have them to give out in change.

Heres what you need to know

When you pay by cash: The price of your purchase will be rounded up or down to the nearest nickel.
Amounts ending in Amounts ending in Amounts ending in

to produce one penny

Amounts ending in

1.6

It costs

.01 or .02 .03 or .04 .06 or .07 .08 or .09 .00 .10 .05 .05
will be rounded down to will be rounded up to will be rounded down to will be rounded up to

When you pay by credit or debit:

The price will be calculated to the exact cent

QMI Agency