With the penny on its way out, will Canada’s nickel be the next coin to go?
s the penny is set to begin retirement next month, there are already calls to put the nickel out to pasture as well.
The Royal Canadian Mint starts collecting one-cent coins on Feb. 4 for melting and recycling of the metal content, with some six billion pennies expected to be surrendered by Canadians over the next six years.
And a former Bank of Canada economist says the nickel is also becoming obsolete, and should be next in line for retirement.
“We see less and less people now … digging in their wallets for nickels,” Jean-Pierre Aubry said in an interview. (ThinkStock)