The 1-cent denomination will be withdrawn from circulation soon if a Canadian Member of Parliament is successful with his bill now before the House of Commons.

Citing figures that appeared in a four-year-old study suggesting the cost of producing the coin is approaching five cents each, Winnipeg Centre Member of Parliament Pat Martin says it is time that Canada adopts a system of rounding purchase costs to the nearest 5-cent mark. He points out that a similar system has been in use in Australia since that country withdrew its 1- and 2- cent coins in 1992. But the Royal Canadian Mint disputes the manufacturing and distribution costs Martin used in his July 5 interview with the Winnipeg Free Press.