2012 CANADA CENT PCGS MS66 RD MAGNETIC STEEL HIGH GRADE LAST YEAR OF ISSUE RARE!

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  • Item Category: Coins & Currency
  • Source: eBay
  • Sold Date: Nov 04, 2013
  • Channel: Auction House

2012 ROYAL CANADIAN MINT
2012 MAGNETIC COPPER PLATED STEEL CENT
PCGS MS66 RD !!

LAST YEAR OF ISSUE

SUPERIOR COIN - VERY HIGH GRADE PIECE !!

The auction includes a 2012 Royal Canadian Mint MAGNETIC or COPPER PLATED STEEL version of the cent in MS-6 6 RD as graded by PCGS. This is a very high-grade piece. There had been repeated debate about getting rid of the penny because of the cost of producing it and a perceived lack of usefulness. On December 14, 2010, the Senate finance committee recommended the penny be removed from circulation, arguing that a century of inflation had eroded the value and usefulness of the one-cent piece. People began hoarding these coins or simply avoided using them. In late 2010, finance committee members of the Canadian Senate estimated that the average Canadian had as many as 600 pennies hoarded away, taken out of circulation. On March 29, 2012, the federal government announced in its budget that it would withdraw the penny from circulation in the fall of 2012. Existing pennies will remain legal tender indefinitely; however, pennies will be withdrawn from circulation as of February 4, 2013.

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