Friday, May 4th, 2012 marks the last day of production for the Canadian Penny. With the cost to mint and distribute a 1 cent coin at 1.6 cents, the Canadian Federal Government decided it was time to let it go. The decision was met with minor opposition but generally favorable views when served with an estimated $11 million saved per year.
Regardless of your reaction to the elimination of the penny, virtually everyone can be appreciative to the Farewell to the Penny theme, direct from the Royal Canadian Mint. A series of coins and proof sets were minted throughout 2012 to commemorate the famous 1 cent along with its trademark maple leaf reverse.
Newly added to KMS Coin Collection are the 2012 Half oz. Silver Canadian Cent Proof, with rose gold plating. The 5 oz. Silver Canadian Cent Proof, and the twenty-fifth oz. Gold Canadian Cent Proof. All three coins are sold out at the mint with limited mintage’s now is the time to order from the few remaining sources.