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Toolkit for Businesses: Phasing out the Penny

About this Toolkit

The Issue

In Economic Action Plan 2012, the Government announced it will phase out the penny from Canada's coinage system. The decision to phase out the penny is due to its excessive and rising cost of production relative to face value, the increased accumulation of pennies by Canadians in their households, environmental considerations, and the significant handling costs the penny imposes on retailers, financial institutions and the economy in general.

The Campaign

Phasing out the penny is a national public awareness campaign created to educate small business, retailers and consumers about the changes coming into effect on February 4, 2013, and beyond. The campaign's goal is to assist small business and retailers as they prepare for the phase out of pennies.

This Toolkit

This toolkit is here to help you raise awareness about the phasing out of the penny through your own channels and activities, both in person and online.

Online Resources and Publications

Also available on this Web site are resources to help you spread the message about phasing out the penny, including:

  • Important Notice - Did you know? (8.5” wide X 5.5” high)
  • Important Notice - General Announcement (8.5” wide X 5.5” high)
    • Note: products mentioned above should always be displayed in English and French (E/F and F/E).
  • English Web graphics
    • Rounding: PDF [334 KB] or EPS [11.1 MB]
    • Example of Rounding: PDF [3.2 MB]or EPS [26.3 MB]
  • French Web graphics
    • Rounding: PDF [353 KB]or EPS [11.1 MB]
    • Example of Rounding: PDF [2.2 MB] or EPS [26.3 MB]

Sharing within Newsletters, Web Sites etc.

In Economic Action Plan 2012, the Government announced it would phase out the penny from Canada’s coinage system. The decision to phase out the penny was due to its excessive and rising cost of production relative to face value, the increased accumulation of pennies by Canadians in their households, environmental considerations, and the significant handling costs the penny imposes on retailers, financial institutions and the economy in general.

The estimated savings for taxpayers from phasing out the penny is $11 million a year.

The cent will remain Canada’s smallest unit for pricing goods and services. This will have no impact on payments made by cheque or electronic transactions—only cash transactions will be affected. Moreover, pennies can still be used in cash transactions indefinitely with businesses that choose to accept them.

The Royal Canadian Mint will cease distribution of pennies to financial institutions on February 4, 2013. On this date, businesses will be encouraged to stop using pennies and begin rounding cash transactions in a fair and transparent manner. As financial institutions will no longer be receiving pennies from the Mint, they may not distribute pennies to consumers and businesses after February 4, 2013.

Need More Information?

General inquiries should be made to:

1 800 O-Canada (1-800-622-6232)

TTY: 1-800-926-9105.

Other Resources:

Royal Canadian Mint

Canada’s Economic Action Plan