Big News regarding cheap copper
The Royal Canadian Mint (RCM) will officially stop releasing pennies in the fall of 2012. In just over six months time, people will start to have to start rounding their to the nearest "0 or 5 cent".
If you are a coin collector or invest in pennies for their copper, I would suggest picking up the pace. These next few months will go by fast and who knows if you'll be able to order pennies come September.
It isn't clear to me, if banks will be able to distribute these coins after the new policy starts. I believed the RCM would start culling copper cents as part of it's recycling program over this option. The RCM has been culling their Nickel and Silver coins for some time now.
It will be interesting to see if Canadian banks start receiving requests from their customers to order large numbers of pennies through this summer. Buy them now while you still can!
I have copied the link to the CNN story here: CNN Canadian Penny Story
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