Canadian pennies, officially removed from circulation in 2012, have become prized collectibles. Some rare and error versions of these coins have significantly increased in value, with a few worth thousands or even millions of dollars. If you own old Canadian pennies, you may be holding a small fortune!
Here are the 10 most expensive Canadian pennies, their distinctive features, and estimated market values:
| Rank | Coin | Features | Estimated Value |
|---|---|---|---|
| 1 | 1936 Dot Penny | Small dot below the date | Up to $400,000 |
| 2 | 1955 No Shoulder Fold (NSF) Penny | No shoulder fold on Queen Elizabeth II’s robe | Up to $5,500 |
| 3 | 1923 Small Cent | Extremely low mintage (1 million coins) | Up to $6,000 |
| 4 | 1925 Small Cent | Limited minting | Up to $3,000 |
| 5 | 1948 Pointed 9 Penny | Pointed shape of the number ‘9’ | Up to $1,500 |
| 6 | 1922 Small Cent | Limited mintage | Up to $2,000 |
| 7 | 1965 Large Beads Penny | Large bead-like dots around the edge | Up to $2,500 |
| 8 | 1954 No Shoulder Fold (NSF) Penny | Missing shoulder fold on Queen’s robe | Up to $1,500 |
| 9 | 1985 Pointed 5 Penny | Elongated shape of the number ‘5’ | Up to $1,000 |
| 10 | 2006 Magnetic Penny (No P, No Logo) | Magnetic; lacks ‘P’ mint mark and logo | Up to $2,000 |
1. 1936 Dot Penny
This is one of the rarest coins in Canadian history. Due to King Edward VIII’s abdication, some 1937 coins were struck using the old 1936 die with a small dot. Only three examples are known to exist.
- Features: Small dot below the date
- Estimated Value: Up to $400,000
2. 1955 No Shoulder Fold (NSF) Penny
This rare penny lacks the shoulder fold on Queen Elizabeth II’s robe due to a design error, making it highly sought-after by collectors.
- Features: No shoulder fold on the Queen’s robe
- Estimated Value: Up to $5,500
3. 1923 Small Cent
With a mintage of only 1 million, this coin is one of the lowest-production Canadian pennies, making it a rare find.
- Features: Extremely low mintage
- Estimated Value: Up to $6,000
4. 1925 Small Cent
Similar to the 1923 penny, this coin was minted in small numbers, increasing its rarity and value.
- Features: Limited mintage
- Estimated Value: Up to $3,000
5. 1948 Pointed 9 Penny
This coin stands out because of the pointed shape of the ‘9’ in the date, which differs from the standard rounded version.
- Features: Pointed shape of the number ‘9’
- Estimated Value: Up to $1,500
6. 1922 Small Cent
Another limited mintage coin, the 1922 Small Cent is rare and can fetch a high price in good condition.
- Features: Limited mintage
- Estimated Value: Up to $2,000
7. 1965 Large Beads Penny
This penny features larger bead-like dots on its edge due to a design error, making it rare and valuable.
- Features: Large bead-like dots around the edge
- Estimated Value: Up to $2,500
8. 1954 No Shoulder Fold (NSF) Penny
Similar to the 1955 version, this coin is valuable due to the absence of a shoulder fold on the Queen’s robe.
- Features: No shoulder fold on Queen Elizabeth II’s robe
- Estimated Value: Up to $1,500
9. 1985 Pointed 5 Penny
This coin’s distinctive feature is the pointed or elongated shape of the ‘5’ in its date, making it a prized collectible.
- Features: Elongated shape of the number ‘5’
- Estimated Value: Up to $1,000
10. 2006 Magnetic Penny (No P, No Logo)
This rare penny is magnetic and lacks the usual ‘P’ mint mark and Royal Canadian Mint logo. Only 222 of these coins were produced.
- Features: Magnetic; no ‘P’ mint mark or Mint logo
- Estimated Value: Up to $2,000
Do You Have a Valuable Canadian Penny?
If you own old Canadian pennies, check for the following characteristics to determine their value:
- Design Defects or Special Features – Look for unique markings or errors.
- Rarity – Coins produced in limited quantities are more valuable.
- Condition – Pennies in excellent (uncirculated) condition are worth more.
FAQs
Why are Canadian pennies no longer in circulation?
The Canadian government discontinued pennies in 2012 due to high production costs and low purchasing power.
How do I know if my Canadian penny is valuable?
Check for rare features like mint errors, unique designs, or low mintages. Professional grading can confirm its value.
Where can I sell valuable Canadian pennies?
You can sell them through coin dealers, online auction platforms (eBay, Heritage Auctions), or coin collector conventions.
Are older Canadian pennies always worth more?
Not always. While age can increase value, rare errors and limited production play a bigger role in determining worth.
How can I protect my valuable Canadian pennies?
Store them in coin holders or protective cases to prevent damage and preserve their condition.