RIP Canadian Cent: 1858 -- 2012

The Canadian government is pulling the plug on the one cent coin.  This year will be the final year of mintage and distribution of the cents.  Because of inflation, the cent has been so devalued that most Canadians don't use them.  Since its debut in 1858, the Canadian cent has lost about 95% of its value.  The Canadian cent has been composed primarily of inexpensive steel, which still costs the Royal Canadian mint about 1.6 cents to produce.  United States cents are primarily zinc and are even more expensive to produce.  The cents are still legal tender (In Canada, cents are legal for up to 25 per transaction compared to only 10 per transaction in the US).  Eventually, Canada will round cash transactions to the nearest cent.

The discontinuation of a coin is always a somber occasion.  I send my condolences to my Canadian friends.  Perhaps in a few years, we will follow your path.

A silver quarter found in change

Today in my pocket, I found a 1942 quarter.  Although the Philadelphia minted quarter is quite common (actually the second most common quarter minted between 1932 and 1962), most have been pulled from circulation by the silver hoarders .  In fact, this is the first silver quarter I have received in change in over fifteen years (I have received a couple of silver wartime nickels in that time).

The coin has been in circulation for 80 years (although, I'm guessing it sat in a drawer for many of the years -- as it clearly does not have 80 years worth of wear.

This completes a great week for me in which I also found a pearl inside a fried oyster.