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	<title>Valentine Makhouleen — interactive art director &#187; Economics</title>
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		<title>Canadian penny</title>
		<link>http://new-media.ca/inspiration/canadian-penny/</link>
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		<pubDate>Sun, 30 May 2010 12:00:22 +0000</pubDate>
		<dc:creator>Valentine</dc:creator>
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		<category><![CDATA[Economics]]></category>
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The pennies produced each year by the Royal Canadian Mint, when laid end-to-end, would go from St. John&#8217;s, N.L., to Victoria and back.
Producing those pennies — necessary after people tuck them away in the piggy bank — is estimated to cost $130 million a year.
Pennies cost retail businesses about $60 million a year to record, [...]]]></description>
			<content:encoded><![CDATA[<p><img class="aligncenter size-full wp-image-3061" title="Canadian penny" src="http://www.new-media.ca/wp-content/uploads/2010/05/penny.jpg" alt="Canadian penny" width="267" height="267" /></p>
<ul>
<li>The pennies produced each year by the Royal Canadian Mint, when laid end-to-end, would go from St. John&#8217;s, N.L., to Victoria and back.</li>
<li>Producing those pennies — necessary after people tuck them away in the piggy bank — is estimated to cost $130 million a year.</li>
<li>Pennies cost retail businesses about $60 million a year to record, store and transport, plus time spent by cashiers per transaction.</li>
<li>The penny buys 1/20th what it bought in 1908.</li>
<li>Until 1996, pennies were anywhere from 95 to 98 per cent copper. They are now 94 per cent steel, 1.5 per cent nickel, and 4.5 per cent copper-plated zinc.</li>
<li>From 1876 to 1920, Canadian pennies were 25.4 mm in diameter and weighed 5.67 g; current pennies weigh 2.35 g and are 19.05 mm round.</li>
<li>Thirty-seven per cent of Canadians say they regularly use pennies to pay for goods.</li>
<li>If all the pennies minted since 1908 were stacked on top of each other, they would go 49,000 kilometres into space.</li>
</ul>
<p>Via <a href="http://www.vancouversun.com/news/penny+drops/3085440/story.html">Vancouver Sun</a></p>
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