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Sigh of relief over the Canadian penny

Carol Young Westerly, RI

Publication: The Day

Published 05/10/2012 12:00 AM

Updated 05/09/2012 04:20 PM

This is in response to the wire service article appearing in The Day on May 5 under "World News" - "Canada makes change, drops penny," concerning the last Canadian cent being struck on May 4, 2012. I enclose an excerpt from our collectors' newsletter "Front Page News" :

"Please note: I spoke with John in the Royal Canadian Mint's Solutions Office and he confirmed the following. The cent, like the 50 cent piece, will continue to be made for the Specimen (mint sets-UNC) and Proof sets as a non-circulating coin. This is much like our Kennedy halves and dollar coins here in the USA. So it is not a closed set, just one that you must pay the premium for now. Sighs of relief all around folks!"

So the Canadian cent will become a non-circulating coin like the Kennedy half and dollar coin in the United States, starting with Chester Arthur's coin.

The Mint will recoup the cost of making the cent with the premium it charges collectors.