The value of a penny (also known as a 1-cent coin in the United States or a 1p coin in some other countries) is one one-hundredth of a dollar, or in countries with similar decimal-based currencies like the Euro or UK pound, one one-hundredth of those base units. In countries like Canada, where pennies were removed from circulation, their current monetary value varies based on exchange rates, metal content, and numismatic value.