Penny Lane is in my ears and in my eyes
There beneath the blue suburban skies
I sit, and meanwhile back
In Penny Lane
Penny, Canadian — Passed away peacefully on Feb. 4, 2013, when the Royal Canadian Mint stopped distributing the copper-coloured coin.
The penny's demise had been anticipated since March 29, 2012, when federal Finance Minister James Flaherty announced in the budget that his government had decided to phase out the smallest denomination of Canada's currency.
The Canadian penny traces its origins to 1858, when the then-province of Canada adopted the decimal system for its currency. Initially, it was struck at the Royal Mint in Great Britain. The 1858 penny had Queen Victoria on the obverse (or "heads") side and a vine of maple leaves on the reverse (or "tails") side.
Dominion of Canada coins were first issued in 1870, but the penny, then made from bronze, didn't join the family until 1876.
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