Skip to main content

The Globe and Mail

Four things consumers should know on the penny’s last day

Canadian cents spilling out

Olga Utlyakova/Getty Images/iStockphoto

Starting Monday, the federal government is encouraging businesses  to round cash transactions to the nearest nickel. After Monday, the Royal Canadian Mint will no longer ship pennies to businesses or banks. Already last May, it stopped producing pennies.

What will retailers do?

Most retailers are expected to follow the federal government guidelines to round cash transactions (including tax) to the nearest nickel.

Story continues below advertisement

Loblaw Cos. Ltd. and Home Depot Canada are among retailers that will round down transactions to the nearest nickel.

Almost 53 per cent of retailers are ready for the phase out of the penny, according to a retail council survey.

Smaller retailers are expected to do rounding manually, at least at first, since revamping cash-register systems for the rounding can cost $100,000 or more.

Can I still use pennies at stores?

Consumers can continue to use pennies for cash transactions with businesses that choose to accept them after Feb. 4.

What can I do with my pennies?

Canadians can redeem their pennies at their financial institution, which may require that pennies be properly rolled. Canadians can also consider donating them to charities.

Story continues below advertisement

What happens if I use debit or credit?

The changes only affect cash purchases, which make up an estimated 22 per cent of transactions, according to the Retail Council of Canada.

Are you hoarding your pennies for something special? Click here to share your story

Report an error Licensing Options
About the Author
Retailing Reporter

Marina Strauss covers retailing for The Globe and Mail's Report on Business. She follows a wide range of topics in the sector, from the fallout of foreign retailers invading Canada to how a merchant such as the Swedish Ikea gets its mojo. She has probed the rise and fall (and revival efforts) of Loblaw Cos., Hudson's Bay and others. More


The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨

Combined Shape Created with Sketch.

Combined Shape Created with Sketch.

Thank you!

You are now subscribed to the newsletter at

You can unsubscribe from this newsletter or Globe promotions at any time by clicking the link at the bottom of the newsletter, or by emailing us at