The Canadian penny is being withdrawn from circulation because production costs have exceeded its monetary value.

BBC: Canada stops distribution of penny coin

In New York, at the 20 media magazines that include Variety, Tad S. Smith, the unit's president, cut head count 16%, saved printing costs by slightly trimming the paper size and tightened circulation by cutting out unnecessary freebies to advertisers and his colleagues at Reed.

FORBES: Double Dutch No Longer

"We also anticipate it will take many months for the new coins to reach significant circulation levels, giving extra time to adapt or replace machines and substantially reduce costs, " he said.

BBC: Treasury 'should foot coin change bill'