Canada produced its last penny on Friday — the government said it was too expensive to make and had become obsolete, Bloomberg reported.
“The real issue was that people weren’t using them, they were putting them in jars at home, and we were doing the same thing at my house,” Finance Minister Jim Flaherty said. He spoke at the Royal Canadian Mint in Winnipeg, Manitoba, before pushing a button that stamped the last one-cent coin, Bloomberg reported.
U.S. officials have been talking about dropping the penny for some time. There are pros and cons.