The Royal Canadian Mint minted coins named as Penny, which was a one-cent coin, but they are quite valuable due to their minting errors and historical significance. The production of the Canadian Penny stopped in 2012, the distribution ceased in 2013, however, the coins remain popular among coin collectors.
Now these Canadian Pennies are worth hundreds or thousands of dollars, grabbing the interest of coin collectors. So, if you come across coins minted before 2012, you should check if they are the rarest coins. People wondering about the most valuable Canadian Pennies can check out the article.
Canadian Penny Worth $90,000
The Canadian Royal Mint minted the Penny coins to replace the British monetary system, where Canada used British pence, pounds, shillings. The Canadian pennies are very old, which adds to their high value. Many collectors are interested in high-value coins that are rare and made from copper.
The face value of this coin is one cent, but now, due to their history and minting, they are worth thousands of dollars in the market. However, some pennies are not as valuable as the others, but collectors seek them due to their history and unique design.
Many coins are auctioned and sold at prices worth thousands, like the 1936 Dot Canadian Penny, which was valued up to $402,000, and the large cent, which was valued up to $30,000 plus. The Canadian penny is no longer in circulation, as its minting ceased in 2012; however, it remains legal tender.
Most Valuable Canadian Penny Coin
The Coin collectors wondering about the most valuable or rarest Canadian Penny can check out the following list of Canadian Penny Coins:
- 1936 Dot Canadian Penny: It is one of the rarest Canadian Penny coins that feature King George VI, which was struck in 1937, though it was dated 1936. The coin is called the Super rare coin among the Canadian Pennies. As per the resorts, it was one of the highest value coins that were sold with the rate of $402,200 in 2010 in New York.
- 1858 Large Cent: Another rarest Canadian Penny that is one of the oldest coins made in London. The coins are bigger in size and feature Queen Victoria. In its history, it was sold at $21000 + price value in 2019 in the auction.
- 1921 Canadian Penny: The 1921 Canadian Penny was issued by King George V and it was a part of standard circulation coins issued between 1920 and 1936. Though it didn’t hold much value, as per the reports, it was sold at most likely higher values of up to $3000 in 2019 in an auction.
- 1953 Shoulder Fold Canadian Penny: Another Canadian Penny that was popular among the coin collectors not because of its value but due to its rare variations. The coins feature Queen Elizabeth, where the error was in dress, if the shoulder strap was folded, it was the rarest coin. The 1953 Canadian Penny with error in dress was sold for over $3200 in 2019 due to its rarity.
- 1955 No Shoulder Fold Canadian Penny: Now, as the shoulder Fold Canadian penny was famous, the later minted or you can say corrected coin was also popular and rare. The Royal Mint has minted more than 56.4 million with the Queen Elizabeth no shoulder folded version. If you found the coin with a shoulder fold, or strap, you can say it’s the rare one, otherwise it’s just worth some $125.
How to identify a Canadian Penny worth thousands of dollars?
Canadian Penny was minted between 1858 – 2012, meaning there were billions of coins, but as time passed, due to their history and errors, they became valuable. The coin collectors should know that they are out of circulation, so you cannot find them in the bank; however, if you find one at your coin jar or in auctions, you should look into the following factors to identify the rarest one:
- Minting Year: First thing, you should look into the minting year of the coin and design to see from which coin it matches. It’s not necessarily the older coin will be more valuable, but with the minting year you will know which coin of that time is popular or valuable now.
- Composition: Most of the coins are made of copper, silver, nickel, and steel, so look for their composition to see if it matches with any valuable coin.
- Errors: Most of the time coins with some error or minting mistake are the rarest and most valuable coins, collectors like to seek them the most. The mistakes and errors make them unique and popular.
- Design: The design of the coins, like many coins, features King George VI or V, Queen Elizabeth II, and other monarchs’ portraits, you can find the rarest with its design.
- Minting Conditions: The minting conditions of the coin also add to its value, like the uncirculated coins are more valuable.
Where can you buy the Canadian Penny worth a thousand dollars?
As the Canadian Penny is out of circulation, coin collectors can find the Canadian Penny on Etsy or other coin platforms. You can also check out the Canadian Royal Mint website to find the rarest coins, or you can always find such rare coins in the auction.
When you buy such coins with a long history, you should always check their credibility from a professional to ensure they are worth your money. So, whenever you buy, do check the coin description clearly and get it checked from a professional.