This month the Canadian mint stopped distributing the penny, or one-cent piece, as it costs more to make than it is worth. It's far from being the lowest-value coin around, however. Some central banks are clinging on to coins that are truly 'small change.' There are many precedents for scrapping small coins. The US abolished the half-cent in 1857 and the UK's halfpenny was withdrawn in 1984. New Zealand and Australia abandoned the one-cent and two-cent coin in the 1990s.
But there are coins, still legal tender, that have even lower value. Take the Burmese Pya - a US cent is worth 850 of these. The lowest-value coin of all is the Tiyin from Uzbekistan. About 2,000 equate to one US cent.