Composition : 99,99% gold
Mintage : 12,000

Making Change: The Story of the Canadian Penny

On the stage of Canadian currency, the humble penny has often been considered a bit player. It lacks the quarter's size, the dime's diminutive prestige, the nickel'sshining patina. Though ubiquitous, the penny has always been a breed apart.

But the life story of Canada's 1-cent piece is anything but dull. It is a story that not only traces the history of Canadian currency, but in many ways walks arm-in-arm with the narrative of Canada's evolution from imperial outpost to dominion to independent nation.

Moving Forward, Looking Back

On January 2, 1908-the day that the Ottawa branch of the Royal Mint was itself freshly minted - Countess Alice Grey, wife of Canada's ninth Governor-General, Albert Henry George Grey, stepped forward and struck Canadas first domestically produced coin: a 1-cent piece. By 2012, more than 35 billion more would be produced.

Today's rising costs of labour, base metals, manufacturing, and distribution mean that each penny costs more than 1.6 cents to produce. The Royal Canadian Mint's patented and cost-effective multi-ply plated steel technology allows it to keep production costs for all other Canadian circulation coins well under their face value; not so, however, for the one-cent piece.

In its Economic Action Plan 2012, the Government of Canada announced its decision to modernize Canada's currency set by eliminating the penny from Canada's coinage system. While the penny will remain legal tender, the Royal Canadian Mint will no longer distribute pennies as of Fall 2012. Canadians can still spend pennies, redeem them at financial institutions,donate them to charities, or recycle them.

Though the humble penny will one day disappear from our midst, its unique role in the history of Canadian coinage remains timeless. And the penny itself, though perhaps no longer present in our pockets, will always hold a specialplace in our hearts.

PENNY'S HISTORY - FAREWELL TO THE PENNY - 2012 CANADIAN COINS is categorised COINS AND PAPER MONEY / 08- ROYAL CANADIAN MINT / 07- PURE GOLD and sold by l'Imaginaire, a store and specialised website.