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As a cost-saving strategy, the Canadian government has cut off circulation for the Canadian penny. The nickel, the toonie and all the coins in between cost less than their face value to produce, yet the penny cost 6 cents more than it is worth. The federal government has calculated that terminating the production of the penny will save the government 11 million a year, allowing the federal government to spend on more pressing issues. However, this change only affects physical cash transactions and not purchases made with credit or debit cards.

In the past week, the Canadian government has officially stopped making and distributing pennies. This is a strategy on their behalf to save money. No longer will pennies be given back in "change" but instead the price will be rounded off to the nearest 5 cents. Other forms of coins are much cheaper to produce also. It will save the government approximately 11 million dollars a year.