The Canadian Mint decided to cancel production of the Penny with each one cent coin costing 1.6 cents to make in 2012. This decision estimates to save the taxpayer 11 million a year.
February 4th, 2013
Video source: faq:penny_512x288.flv
<note>You can also round to other coin amounts such as the nearest quarter which can make making change at special events faster for retail traffic.</note>