Nope, no more pennies at all.
http://www.mint.ca/store/coin/uncircula ... rod1620013
Its pretty messed up allright. The 50 cent piece now weighs just as much as the Toonie (6.9 grams vs 6.92 grams) and none of the coins contains more than 2.2% nickel anymore. The entire mint set is basically iron, with only the centre part of the Toonie being of any intrinsic value, containing about a pennies worth of aluminum bronze.
If you look at it from a intrinsic value perspective, the penny is still there, it just the center of the iron Toonie and labelled as $2.
And I thought we were the worlds largest producer of nickel? I'm pretty sure I remember that from grade school, hah!