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Canada 2012 Farewell to the Penny - Elimination of the One Cent Denomination Coin 1¢ 5 Ounce Pure Silver Proof GX

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THE ONLY 5 OUNCE PENNY IN CANADIAN HISTORY! Canada eliminates the one cent coin from circulation as we bid a fond farewell to this much-collected denomination! Low mintage, too - only 1,500!

Sold out at the Mint!It's like losing a friend, someone who's been there all your life - the penny is no more. Canada has made the momentous decision to eliminate the one cent denomination, and we are sad. One of the three most collected of Canadian coins (along with the dollar and silver maple leaf), the penny has been a cornerstone of Canadian (and North American) commerce since the earliest colonial times. Now, the bureaucrats and bean counters in their offices say it costs too much to manufacture - more to fabricate, in fact, that its face value. And so, the penny must go. But not before one final flourish. The Royal Canadian Mint celebrates the much-loved penny's exit from the financial stage with a spate of releases at once exotic, bizarre and intriguing. To wit:

    Mint Wrap Roll of 50 1¢ Pennies - With Serialized Holographic Label!
    "Maple Leaves Fallen To A Watery Grave" 1/4 Ounce Pure Silver $20
    Rose-Gold Plated 1/2 Ounce Pure Silver 1¢ Penny Proof
    1/25 Ounce Pure Gold 1¢ Penny Proof
    Complete 5-Coin Collection - Remembrance of Designs Past Pure Silver 1¢ Penny Proof Set
    Five Ounce Pure Silver Penny Proof

And so we bid a fond farewell to the penny with what (we believe) future numismatists will view as numismatic delicacies of the first rank! Each bears the maple leaves that are the hallmark of the penny (as well as the national symbol of Canada), marking the final time they will ever grace one cent coins. But oh, what coins these are!

Click here for all coins in the Farewell to the Penny program!

2005 First Day of Minting Obverse & ReverseInvestment Note - We can not stress strongly enough what the milestone discontinuation of the penny means! Canada has eliminated this denomination permanently - after 2012, there will be no more one cent coins, ever! This is the only five ounce penny in Canadian history (and probably, for that matter, world history)! We believe that this landmark coin will become a numismatic delicacy, greedily pursued by future generations! The mintage limit is low, so stock up now!

Don't forget these other two great Canadian 5 Ounce Pure Silver Proofs!
    Parliament 150th Anniversary 5 Ounce Silver Proof
    Calgary Stampede - Cowboy on Bucking Bronco 5 Ounce Silver

Click here for more great 5 Ounce Silver Proofs!

The Penny - A Brief History
The maple leaf gracing the one cent coin is emblematic of everything Canadian. The design featuring two maple leaves on a sprig was created by Canadian artist G.E. Kruger-Gray and first used in 1937. The maple tree has been a major contributor to the development of the forestry industry as well as a source of delicious syrup! In addition the maple leaf is the central feature of the national flag of Canada. The first one cent coin was struck by the Countess of Grey at the official opening of the Ottawa branch of the Royal Mint on January 2, 1908. Originally composed of copper, 2012's one cent circulation coin is made of copper-plated steel.

Click here for more fascinating pennies!


The Death of the Penny
Orange autumn maple leaves float away in water, just as the passage of time has doomed the Canadian Maple Leaf Penny One Cent Coin.Today’s rising costs of labor, metals, manufacturing, and distribution mean that each penny costs more than 1.6 cents to produce. The Royal Canadian Mint’s patented and cost-effective multi-ply plated steel technology allows it to keep production costs for all other Canadian circulation coins well under their face value; not so, however, for the one-cent piece.

In its Economic Action Plan 2012, the Government of Canada announced its decision to modernize Canada’s currency set by eliminating the penny from Canada’s coinage system. While the penny will remain legal tender (it is not being demonetized, merely discontinued), the Royal Canadian Mint will no longer distribute pennies as of Fall 2012. Canadians can still spend pennies, redeem them at financial institutions, donate them to charities, or recycle them.

Though the humble penny will one day soon disappear from piggy banks and cash registers everywhere, its unique role in the history of Canadian coinage remains timeless. And the penny itself, though perhaps no longer present in our pockets, will always hold a special place in our hearts.

Click here for coins highlighting history!

This five ounce .9999 fine silver proof features an exactingly reproduced vignette of G.E. Kruger-Gray’s iconic 1937 design, which was used as the Canadian 1-cent piece design from 1937 to 2012, with the sole exception of 1967. The image features two upright five-lobed maple leaves, the larger one on the right slightly overlapping the smaller leaf on the left. Both are attached by their stems to a small twig.

The Farewell to the Penny 5 Ounce Pure Silver Proof is the seventh in the ongoing 5 Ounce Silver series from the Royal Canadian Mint.

Investment Note
Here's a coin with a ton of investment potential, to say nothing of cachet! It's huge (nearly 3 inches in diameter) and stuck in the purest silver refined anywhere in the world - .9999 fine! The numismatic penny theme is extremely popular, too! It's also only the seventh 5 ounce silver coin ever minted by Canada. What's more, it has the absolute lowest mintage limit of the bunch - only 1,500! Don't let it sell out on you, get yours today!

Click here for more great 5 ounce silver proofs!

 
Farewell to the Penny 5 Ounce Silver Proof In Box Purity Note
The Royal Canadian Mint refines the purest silver in the world. This five ounce silver coin is 99.99% pure!

Click here for more great pure silver coins!
 
Obverse
The national symbol of Canada, the maple leaf, is attractively featured in frosted cameo proof finish. The one cent design, two maple leaves on a sprig, was first used on the Canadian penny in 1937. The date of issue and denomination also appear.

Click here for all coins in the Farewell to the Penny program!

Reverse
Her Majesty, Queen Elizabeth II, in profile facing right. This portrait, the fourth effigy of the queen to appear on Canadian Coinage, was executed by the artist Susanna Blunt. The legend reads ELIZABETH II D. G. REGINA ("Elizabeth II, Queen by the Grace of God").

Click here for more great 5 Ounce Silver Proofs!

Packaging
The coin is encapsulated inside a burgundy leatherette, clamshell-style presentation case, lined with black velvet and protected by a full color, custom cardboard box. An individually-numbered certificate of authenticity is included.

Box Note - Please note that the outer cardboard box for this coin is blast white in color, unlike nearly all other outer boxes and sleeves from the RCM (which are jet black). Beacause it is white, the outer box may show marks and scuffs. This is unavoidable and how these arrived from the Mint. Of course, the outer box exists solely to protect the inner box, so in that sense it's doing its job.

Specifications
Country Canada
Year of Issue 2012
   
Face Value 1 Cent
Weight 157.60 g
Diameter 65.00 mm
Mintage Limit      1,500
   
Finish Proof
Composition .9999 Fine (Pure) Silver
Edge Serrated (milled, reeded)
   
Certificate Individually Numbered
Artist G.E. Kruger-Gray

 

Complete Certificate Text

Making Change: The Story of the Canadian Penny
On the stage of Canadian currency, the humble penny has often been considered a bit player. It lacks the quarter’s size, the dime’s diminutive prestige, the nickel’s shining patina. Though ubiquitous, the penny has always been a breed apart.

But the life story of Canada’s 1-cent piece is anything but dull. It is a story that not only traces the history of Canadian currency, but in many ways walks arm-in-arm with the narrative of Canada’s evolution from imperial outpost to dominion to independent nation.

Click here for all coins in the Farewell to the Penny program!


Moving Forward, Looking Back
On January 2, 1908—the day that the Ottawa branch of the Royal Mint was itself freshly minted—Countess Alice Grey, wife of Canada’s ninth Governor-General, Albert Henry George Grey, stepped forward and struck Canada’s first domestically produced coin: a 1-cent piece. By 2012, more than 35 billion more would be produced.

Today’s rising costs of labour, base metals, manufacturing, and distribution mean that each penny costs more than 1.6 cents to produce. The Royal Canadian Mint’s patented and cost-effective multi-ply plated steel technology allows it to keep production costs for all other Canadian circulation coins well under their face value; not so, however, for the one-cent piece.

In its Economic Action Plan 2012, the Government of Canada announced its decision to modernize Canada’s currency set by eliminating the penny from Canada’s coinage system. While the penny will remain legal tender, the Royal Canadian Mint will no longer distribute pennies as of Fall 2012. Canadians can still spend pennies, redeem them at financial institutions, donate them to charities, or recycle them.

Though the humble penny will one day disappear from our midst, its unique role in the history of Canadian coinage remains timeless. And the penny itself, though perhaps no longer present in our pockets, will always hold a special place in our hearts.

Click here for more great 5 Ounce Silver Proofs!

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