While most of us barely glance at the pennies jingling in our pockets, some of those humble coins could be worth six figures or more. In the world of coin collecting, certain rare Canadian pennies have sold for over $100,000, making them highly sought-after treasures.
If you’re in Canada—or have inherited old coins—you might be holding one of these rare finds. Let’s dive into the top 5 most valuable Canadian pennies and what makes them so special.
Why Are Canadian Pennies Valuable?
A penny’s value can skyrocket due to factors like:
- Rarity (limited mintage or surviving specimens)
- Minting errors
- Historical significance
- Condition and grading
- Unique features (such as metal composition or design changes)
Now, let’s explore the Canadian pennies that have shocked collectors—and auction houses—with their price tags.
1. 1936 Dot Penny
Estimated Value: $400,000 – $500,000
The 1936 Dot Penny is Canada’s most famous and valuable one-cent coin. Only three known examples exist, making it exceptionally rare.
What Makes It Valuable:
- Produced as a contingency coin after King Edward VIII abdicated the throne.
- A tiny raised dot below the date signifies its limited release.
- Only a handful survived—and are in museums or private collections.
Tip: If your 1936 penny has a small dot under the date, have it authenticated immediately.
2. 1923 Small Cent
Estimated Value: $40,000 – $120,000
Nicknamed the “King of Canadian Pennies,” the 1923 small cent is extremely rare in high grades. Most circulated heavily, so mint-state examples are nearly impossible to find.
What Makes It Valuable:
- Very low mintage numbers.
- Even fewer high-grade specimens remain.
- PCGS-graded examples have sold for over $100,000.
3. 1925 Small Cent
Estimated Value: $35,000 – $115,000
While not quite as rare as the 1923 penny, the 1925 small cent is highly sought after in mint condition.
What Makes It Valuable:
- Low survival rate in top condition.
- One of the rarest years for small cent collectors.
- Clean, uncirculated coins can exceed six figures at auction.
4. 1953 “Shoulder Fold” Penny (SF Variety)
Estimated Value: Up to $120,000
In 1953, Canada introduced a new portrait of Queen Elizabeth II, and two varieties were produced: Shoulder Fold (SF) and No Shoulder Fold (NSF).
What Makes It Valuable:
- The SF variety had a very short production window.
- SF coins with clear definition and full detail are extremely rare.
- Top-graded examples have been valued at over $100,000.
5. 1858 Large Cent
Estimated Value: $20,000 – $110,000
This is Canada’s first official penny, minted before Confederation. Though many were made, very few exist today in pristine condition.
What Makes It Valuable:
- First year of Canadian penny production.
- Rarity increases with high-grade and uncirculated examples.
- A well-preserved 1858 coin can command over $100,000 at auction.
Could You Own One?
Many Canadians have inherited old coin collections or have vintage coins tucked away in drawers or piggy banks. Here’s what you should do:
How to Spot a Valuable Penny:
- Check the date: Focus on 1858, 1923, 1925, 1936, and 1953.
- Examine the details: Look for tiny dots, design anomalies, or unusual folds.
- Weigh the coin: Errors or off-metal coins may differ slightly in weight.
- Don’t clean it! Cleaning old coins decreases their value.
- Get it graded: Use services like PCGS or ICCS for authentication and grading.
Final Thoughts
While Canada has officially retired the penny from circulation, its rarest examples continue to rise in value. Whether you’re a seasoned collector or simply cleaning out your junk drawer, it’s worth checking your change—you might just find a six-figure treasure hiding in plain sight.