The one-cent solution

The penny will be phased out starting in February. The average Canadian has 600 pennies lying around—here’s what to do with them.

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by MoneySense staff
January 30th, 2013

From the November 2012 issue of the magazine.

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  • Redeem them for $6.00 at a BMO coin counter. It’s free and you don’t have to be a client.

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  • For all you dreamers out there, make 600 wishes at a nearby fountain or wishing well.

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  • Donate them to charity. Habitat for Humanity is accepting the coins at its 69 regional offices.

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  • Melting down 600 pre-1997 copper pennies would net you $11.72—and possible criminal charges.

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