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The Canadian penny, formally known as the one-cent piece, holds a unique place in Canadian currency history. It was first introduced in 1858 as a small, copper coin featuring Queen Victoria on the obverse (front) and a maple wreath on the reverse (back). Over the years, the design of the penny evolved with changes in monarchs and national symbols.
In 1908, the penny’s composition was updated to 95.5% copper, 3% tin, and 1.5% zinc. This remained the standard until 1996 when it was changed to 98.4% zinc, coated with 1.6% copper plating. The size of the coin also underwent changes, notably in 1920 when it was slightly reduced.
Despite its long history, the Canadian government decided to cease production of the penny in 2012 due to rising production costs and declining purchasing power. The last Canadian pennies were minted in May 2012, and businesses were encouraged to round cash transactions to the nearest five cents thereafter.
Today, Canadian pennies remain legal tender and can still be used in transactions. Many people collect them for their historical value and as a nostalgic reminder of a bygone era in Canadian currency.