4.5%

They may look similar, but only those coppers from 1996 or earlier have any real copper content (98 per cent worth). The new ones are 94 per cent steel, 1.5 per cent nickel and 4.5 per cent copper, not nearly enough to melt down.

Side Note
Our penny costs approximately .008 of a cent to produce, according to the Canadian Mint. (That was the average cost of producing over 800 million pennies last year; loonies and toonies cost just under 11 cents to produce and distribute.)

It’s illegal in Canada to deface our coins.