Discover the Value of Your 1867 to 1967 Canadian Penny (Rare Examples Worth $300+)
Do you have a 1867 to 1967 Canadian penny tucked away in a drawer or coin jar? Also known as the Canadian Centennial penny, this one-year type coin marked the 100th anniversary of Canada‘s Confederation in 1867.
While common examples of the Centennial penny are worth only a few cents, the very best specimens can fetch hundreds of dollars. Rare varieties and error coins are also highly prized by collectors.
Intrigued? Read on as we take an in-depth look at the 1867-1967 Canadian penny. We‘ll cover how to identify this coin, factors that influence its value, and the current market for Centennial pennies.
Whether you‘re a seasoned coin collector or just curious about that old penny in your pocket, this article will give you the knowledge you need to assess any 1867-1967 pennies that come your way.
Identifying the 1867 to 1967 Centennial Penny
The Canadian Centennial penny is a one-year type coin, struck only in 1967 to commemorate Canada‘s 100th anniversary. Here are the key features to look for:
Obverse (front):
- Bust portrait of a young Queen Elizabeth II, facing right
- Inscription "ELIZABETH II D G REGINA" (Elizabeth II by the grace of God, Queen)
- No mint mark or other markings
Reverse (back):
- A rock dove in flight (artwork by Canadian artist Alex Colville)
- Dual dates "1867 1967" signifying Canada‘s centennial
- Denomination "ONE CENT" at the bottom
Other details:
- Composition: 98% copper, 0.5% tin, 1.5% zinc
- Weight: 3.24 grams
- Diameter: 19.05 mm
- Plain edge (smooth, not reeded)
If your coin matches this description, congratulations – you have a genuine 1867-1967 Centennial penny. With over 345 million minted, it‘s not a rare coin in an absolute sense, but some examples are much more valuable than others.
1867 to 1967 Penny Value Chart and Price Guide
As with most coins, condition is key to determining a Centennial penny‘s numismatic value. A heavily worn penny with no design details is worth only face value. But gem uncirculated examples graded MS-66 or higher can sell for $50 to over $300.
Here‘s a value chart to give you an idea of 1867-1967 Canadian penny retail prices. Values are given for various grades in both circulated and uncirculated condition.
Note: "MS" refers to the Sheldon Mint State coin grading scale used by third-party grading services like PCGS and NGC. MS-60 is the lowest uncirculated grade while MS-70 represents a flawless coin. Grades below MS-60 are for circulated coins.
| Grade | Retail Value |
|---|---|
| Good | $0.01 |
| MS-60 | $0.05 |
| MS-63 | $1 |
| MS-64 | $8 |
| MS-65 | $14 |
| MS-66 | $50 |
| MS-67 | $300 |
| MS-68+ | $1000+ |
As you can see, there is a huge jump in value for high-end uncirculated coins. A penny graded MS-66 is worth 50 times more than a MS-64! This is due to the exceptional eye appeal, strong luster, and lack of visible marks or wear on 66+ coins.
The prices above represent typical retail values that a knowledgeable coin dealer might charge. If you are looking to sell a Centennial penny, expect to get 20-30% less than these figures, as dealers need to cover their costs and make a profit.
Error Coins and Varieties
In addition to regular circulation strikes, collectors should be on the lookout for oddities such as error coins and varieties. The value of these pieces can far exceed regular examples in the same grade.
The most notable variety is the "Double 1867" penny. On this rare coin, the numerals in the 1867 date were punched into the die twice at slightly different positions, creating a clear double image of each number.
Double 1867 pennies are lightly circulated at best, with auction prices reaching over $100 for choice uncirculated specimens. Values below assume a high grade of MS-65 or better.
| Variety | Retail Value |
|---|---|
| Double 1867, MS-65+ | $40-130 |
| Die breaks, cracks | $10-50 |
| Off-center strikes | $25-100 |
Reputable variety attributions by experts or grading services are a must when paying a premium for these coins. Novice collectors should be cautious, as many supposed "errors" are actually just damage or alterations added after the coin left the mint.
Market Trends and Investment Potential
High-grade regular issue and Double 1867 pennies have performed well over the past decade, with prices steadily rising across the board. This trend is likely to continue as more collectors enter the hobby.
However, given the large mintage and lack of precious metal content, Centennial pennies should be considered a long-term hold rather than a "flip for quick profit" investment. Collect them because you enjoy the coin‘s history and design, not purely as a financial gambit.
As with all collectible coins, proper storage is essential to maintaining value. High-grade examples should be carefully placed in archival-quality holders and stored away from heat, humidity and light. Avoid cleaning or improper handling, as this can decrease a coin‘s value.
Frequently Asked Questions
Q: Is the 1867 to 1967 penny silver?
A: No, the Centennial penny is made of copper with small amounts of tin and zinc. It contains no silver.
Q: How much is a 1867 to 1967 penny worth?
A: Most examples are worth 1 to 5 cents. Uncirculated pennies graded MS-63 or better are worth $1 to $300+. Rare errors and varieties can be worth $50 to $500 depending on the specific coin.
Q: How do I sell my Centennial pennies?
A: You can sell them to a local coin dealer or post them for sale on sites like eBay. For high-value coins, consider consigning them to a specialty auction house. Always get offers from multiple dealers to ensure a fair price.
Q: Should I get my penny professionally graded?
A: For coins that appear to be MS-63 or better, getting a professional grade can significantly increase value and ease of sale. Stick to reputable services like PCGS, NGC or ANACS. Lower grade circulated coins are usually not worth the cost of grading.
Final Thoughts
The 1867 to 1967 Canadian Centennial penny may be a common coin in low grades, but exceptional examples still generate excitement among collectors. Cherrypicking circulation for errors, varieties and high grade pieces can be a fun and rewarding pursuit.
Whether you have one Centennial penny or one hundred, take a close look at them. You may be surprised at the treasures hiding in your change jar!
Remember, unless you find a rare error coin, you aren‘t likely to get rich from hoarding mint state pennies. But that doesn‘t diminish this coin‘s appeal as a piece of Canadian history and a collecting challenge.
Start searching those old penny rolls and blue books – your next big numismatic find could be just around the corner, courtesy of Canada‘s celebratory Centennial penny.
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