OTTAWA - The penny is bucking its demise to give retailers more time to adjust to it being dropped.
Finance Minister Jim Flaherty said Monday this fall's scheduled date to pull the coin from circulation will be extended to February so businesses won't have to adjust during the holiday shopping season.
"This will ensure all those participating in the transition will have ample time to prepare their business, train staff, and better inform consumers," a statement from his office said.
The statement did not say why businesses and retailers were not given a penny for their thoughts before the change.
The government says it will save $11 million a year when production stops. The Royal Canadian Mint will stop circulating the penny as of Feb.4.
