The Royal Canadian Mint will no longer distribute the coin to financial institutions around the country, but it will remain legal tender.

BBC: Canada stops distribution of penny coin

The Perth Mint is one of a handful of elite global mints, on par with the U.S. Mint and the Royal Canadian Mint.

FORBES: INTERVIEW: Perth Mint: 'Our Business Has Doubled'

As of this fall, the Royal Canadian Mint will cease distributing Canadian pennies, though consumers will still be able to use them for transactions.

CNN: Canada getting rid of the penny to save costs