Spending a Penny, but for how long?


BritishOneNewPenny

The copper in the pre-1992 pennies are worth much more today than the face value of the coin.

Decimalisation in the UK began in February 1971, and the UK penny, or new penny, as it was then known, was there from the start. And now in the same month as it is celebrating 42 years in its current state, Canada has ditched its One Cent coin. Why? Simple. With ever increasing inflation on goods and services, it costs more than its outward value to produce the coin. Thus saving the economy of Canada money in the long run. Read more of this post

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