From 1858 to 2012, the Royal Canadian Mint produced the Canadian penny, officially known as the one-cent piece. Millions of Canadian pennies were already in circulation when the coin piece was discontinued.
However, what’s interesting about Canadian pennies are the coins that are quite rare and difficult to find. These rare Canadian pennies come with sentimental and numismatic value, which would dramatically increase their price.
So, it is not surprising to see that many people are interested in knowing which Canadian pennies are rare. If you are one of them, you are in for a treat. Today, we will look into the eight rarest Canadian pennies in the world!
8. 1887 Victoria Cent
Year of minting: 1887
Price: Up to $17,000 or more
Number of known copies: Unknown
Image source: Numista
In 1887, Canada didn’t have its own Mint center. It was only in 1908 that the Canadian Royal Mint was fully established. Thus, the 1887 Victoria Cent was produced by the Royal Mint in London.
Many coin experts consider the 1887 Victoria cent rare because only a few of these coins survive today. Not only that, but if you find one, it is less likely in gem condition.
The 1887 Victoria cent commands a premium price today. Some are even sold for up to $17,000.
Did you know?
The 1887 Canadian penny features the bust of Queen Victoria wearing a tiara. The coin is composed of 95% copper, 4% tin, and 1% zinc.
7. 1925 Canadian Penny
Year of minting: 2006
Price: Up to $2,700 or more
Number of known copies: Unknown
Image source: Coins and Canada
The 1925 Canadian Penny is an iconic coin produced by the Royal Canadian Mint in 1925 and remains highly desirable.
The 1925 Canadian Penny is rare for several reasons. First, only a limited quantity was struck, and by the end of 1925, the mint only produced a little more than a million pennies. Since this is an old coin, those in pristine condition are considered even more scarce.
Did you know?
The Canadian Penny saw its last production in 2013. The Royal Canadian Mint cited rising costs as the primary reason it was removed from circulation. As this might be the case, owners of the penny can still use the coin. However, some businesses may not accept pennies anymore.
6. 2006 Steel Error Canadian Penny
Year of minting: 2006
Price: Up to $2,700 or more
Number of known copies: Unknown
Image source: Coins and Canada
The 2006 Steel Error Canadian Penny is an extremely rare and unusual variant of the Canadian 1-cent coin from 2006. This coin earned its moniker due to the use of steel blanks instead of copper-plated zinc ones commonly seen for other 1-cent coins produced during that year.
So, how did the error happen? In 2006, the Royal Canadian Mint planned to create steel one-cent coins, which they would only give to collectors. However, for unknown reasons, some of these blank steel coins ended up at the Mint and were struck by dies meant for general circulation.
The 2006 Steel Error Canadian Penny is extremely rare because the Mint never meant to produce the error coin in the first place. Estimates indicate only several thousand were struck.
Error Pennies from 2006 were quickly detected and corrected; however, some had already been released into circulation, making them highly sought after among collectors.
Did you know?
The Royal Canadian Mint was founded on January 2, 1908. It is the official mint of Canada and operates under the Royal Canadian Mint Act. The Canadian Mint also produces coins for other nations.
5. 1921 Canadian Penny
Year of minting: 1921
Price: Up to $2,700 or more
Number of known copies: Unknown
Image source: PCGS
The 1921 Canadian penny is an extremely scarce and highly prized coin produced by the Royal Canadian Mint in 1921. This was its inaugural year of release for modern, small 1-cent coins and one of the rarest Canadian pennies ever produced.
The 1921 Canadian penny is scarce due to several reasons. Production was initially restricted as the Mint was still testing its new design and hadn’t ramped up production to meet demand. Many 1921 pennies were also melted down and reused after production, further decreasing circulation numbers.
Did you know?
The Royal Canadian Mint phased out the penny on February 4, 2013. The Canadian penny was the smallest denomination in Canada’s currency, and its production life spanned over 150 years.
4. 1859 Narrow 9 Canadian Penny
Year of minting: 1859
Price: Up to $11,000 or more
Number of known copies: Unknown
Image source: Coins and Canada
The 1859 Narrow 9 Canadian Penny is a variation of the Canadian Large Cent that was produced in 1859 and named due to the narrow width of its numeral 9 on its reverse side.
In 1859, the Province of Canada issued a new Canadian Large Cent coin with a slightly modified design. This coin featured a portrait of Queen Victoria on its obverse side and a wreath on its reverse, along with two variants for its date digit – Narrow 9 and Wide 9.
The Narrow 9 variant is considered rare as it was only produced briefly before being replaced by the Wide 9 variant. The narrow 9 variants were replaced because people with poor eyesight had trouble reading the numbers.
Did you know?
The obverse side of the 1959 penny has the inscription, “Dei Gratia Regina.” It means “By the Grace of God, Queen.”
3. 1954 and 1955 NSF One Cent
Year of minting: 1954 and 1955
Price: Up to $3,000 or more
Number of known copies: Unknown
Image source: Heritage Auctions
In 1954 and 1955, the Canadian Mint decided to modify the bust of Queen Elizabeth II. They wanted to add a shoulder fold to make it look more beautiful and distinct. The shoulder fold is a small indentation on the shoulder of the portrait of Queen Elizabeth II. However, during the transition, the Mint struck a few coins without the shoulder fold.
Today, these one-cent coins are known as the NSF (no shoulder fold) one cent. Only a few hundred are known to exist, and NSF 1-cent coins still in good condition could fetch several thousands of dollars.
Did you know?
Queen Elizabeth II was crowned queen on June 2, 1953, until her death on September 8, 2022. She was the longest-reigning monarch in Britain.
2. 1858 Large Canadian Cent
Year of minting: 1858
Price: Up to $21,000 or more
Number of known copies: Unknown
Image source: Coins and Canada
The 1858 large Canadian cent is considered one of the rarest coins. One reason is that 1858 was the first year the Mint produced a new cent solely dedicated to usage in Canada. The 1858 Canadian cent was also produced in London, England, by the Royal Mint, and only about 120,000 coins were produced.
The 1858 Canadian cent was one inch in diameter, which made it larger than the modern 0.75-inch cent. The 1858 Canadian cent was also heavier, which weighed up to 4.54 grams.
Did you know?
The first plan to produce mint coins for Canadian use happened in 1841 when the Province of Canada was formed. However, it took many years for the Province of Canada to convince the British Government to allow them to have their own coinage.
1. 1936 dot penny
Year of minting: 1937
Price: Up to $400,000
Number of known copies: 4
Image source: Coins and Canada
The 1936 Dot Penny is the rarest Canadian penny, with only four copies in existence.
The 1936 Dot Penny takes its name from its distinctive feature – a tiny dot below the date on the obverse side. The dot was added to indicate that the coin was struck in 1937 rather than 1936.
The 1936 dot penny’s story began 1936 when the Royal Canadian Mint prepared to produce a new series of pennies. They decided to change its design, replacing King George V’s image on its obverse side with that of Edward VIII (his successor).
Unfortunately, Edward VIII abdicated the throne before production could commence on these coins, and George VI assumed power instead.
There was a significant cost in changing the die again for the obverse side of the penny. So, instead of creating a new one for 1937, the Mint decided to simply put a small dot below 1936 as an indication until a new die was available.
Today, only four 1936 dot pennies remain. Three are privately owned, while the Ottawa Currency Museum displays the fourth one.
Did you know?
King George VI was the reigning British Monarch from 1936 to 1952. He was also the last emperor of India and the first Head of the Commonwealth.
