PHOTO MOMENT: Canadian elf coin

  A 25-dollar pure silver coloured coin issued by Canada in 2016. The coin, part of a popular and recent tradition of countries issuing coinage with full-colour scenery and even holographic elements, shows a mythological ‘woodland elf’ on the reverse. The elf, dressed in green hat and suit, is busy at work building a wooden birdhouse amidst typical northern Canadian forest scenery. The obverse features a unique profile portrait of Queen Elizabeth II. The coin was recently launched by the Royal Canadian Mint, based on a design by local artist Jesse Koreck, and is being sold at face value in … Continue reading PHOTO MOMENT: Canadian elf coin

PENNIES DOWN THE DRAIN: Canada bids farewell to 1 cent coins

“Look after the pennies, and the pennies will look after the pounds” – traditional English proverb This month, the Royal Canadian Mint in Winnipeg, Manitoba state, will mint the last of Canada’s one-cent coins or ‘pennies’. Rapidly-rising costs of metal and production at the mint mean that it now costs 1.5 cents to produce each coin, so they are now a loss-making initiative. Inflation of the Canadian dollar has rendered the 1-cent nearly worthless and businesses and consumers do not see any point in the penny any longer. After a hundred years of history, the very last one-cent coin came … Continue reading PENNIES DOWN THE DRAIN: Canada bids farewell to 1 cent coins