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Listen to News ~ dateline: 10 April 2012

Weekly Audio News for ESL Learners

Canadian Penny To Be Phased Out

Pre-Listening Vocabulary

  • phase out: to slowly bring to an end
  • legal tender: a form of payment, such as coins, notes, or bills
  • transaction: an exchange of payment for goods or services
  • round up/down: to bring to the nearest relevant number (0, 5, or 10)
  • in circulation: moving through a system for the purpose of exchange

Canadian Penny To Be Phased Out

The Canadian government announced that it is eliminating its coin. Pennies will continue to be legal tender; however, the Royal Canadian Mint will no longer produce these coins this fall. According to the Canadian government, it costs about 1.6 cents to a penny. This costs the Canadian about 11 million dollars a year. Businesses are being asked to collect and return pennies to financial institutions. The coins will be melted down and recycled into metal. Cash transactions will require rounding up or down. The Canadian penny has been in circulation since 1876.

Comprehension Questions

  1. What is the one-cent coin called in Canada?
  2. Why is this coin being phased out?
  3. What will be done with pennies that banks collect?

Discussion Question: Many countries, including Brazil, Israel, and Norway, have discontinued their lowest value coins in recent years. How do electronic transactions reduce the need for low-value coins like pennies?

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Written by Tara Benwell for EnglishClub.com
Tara Benwell is a Canadian freelance writer and editor who specializes in materials and articles for the ELT industry.

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