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Canada mints its last penny on Friday

The Canadian penny will get a ministerial send off when the Federal Finance Minister Jim Flaherty will be on hand to watch the last minting.

The Winnipeg plant of the Royal Canadian Mint will produce Canada’s very last penny on Friday.

In the Federal government’s fall budget, Flaherty said the penny would be eliminated to save money.

The penny is a “currency without any currrency” and the government was acting on “. . . what everyone agrees should have been done long ago,” said Flaherty.

The government expects merchants to round up or down for cash purchases. Debit and credit cards will still use penny increments for payment.