Personal Finance

Are Canadian Pennies Worth More Than 1¢?

  • Last Updated:
  • Dec 10th, 2018 8:17 am
[OP]
Deal Guru
Nov 16, 2004
14947 posts
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Toronto

Are Canadian Pennies Worth More Than 1¢?

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I've got dollars worth of pennies. Are they worth anything more than a cent?
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20 replies
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Mar 9, 2007
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no

WOULD SOMEBODY THINK OF THE CHILDREN!!!
Deal Expert
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Nov 15, 2004
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Toronto
Sell them as historical relics online (note, I have no idea if this is legal or not)
Could HAVE, not could OF. What does 'could of' even mean?
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Dec 28, 2007
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Alberta
Nope. Trade them in and buy a couple of Big Mac meals.
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Aug 27, 2018
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titaniumtux wrote:
Dec 6th, 2018 5:13 pm
Probably better to melt them. Is that even legal? Thinking Face
It's illegal to melt official currency. Not sure if that counts for the penny as it's not in circulation any more. FIat money should always cost less to produce than the "value", hence having to get rid of the penny as it costs more than this to produce.
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Jan 9, 2011
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I see $20 there. You can deposit them at the bank or donate them to a charity who will do likewise. https://www.mint.ca/store/mint/about-th ... AqnKC0ZP1I
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May 10, 2005
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dekvitaly wrote:
Dec 6th, 2018 3:11 pm
@porticoman the pennies are identical in US and Canada so they are generally accepted LOL.
for me I just accepted it as a gift card not to pay any other fee.
Why bother to do that? Go to a bank and they will give you face value for them.
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Oct 13, 2014
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Even though it is still unlawful to melt the pennies (they are still currency, albeit not in circulation) you may be able to sell them to a metal recycling facility (what they do with them is their problem). You would first have to sort them by year, to determine copper weight. At the very least $20.00 in pennies (1000) will only net you $15.08 USD at today's rate. Take them to a bank.

http://coinapps.com/copper/penny/canadian/calculator/
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Jan 9, 2011
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dekvitaly wrote:
Dec 6th, 2018 3:11 pm
@porticoman the pennies are identical in US and Canada so they are generally accepted LOL.
for me I just accepted it as a gift card not to pay any other fee.
I call BS on all of that.
US retailers I have dealt with won't take them
They aren't identical, Canadian pennies are lighter and are made of plated steel, while US pennies are plated zinc.
US banks near the border are on the lookout for Canadians bringing in rolls of coins and will open and/or weigh them to check
Because of the above, US coin counting machines are calibrated to reject Canadian coins, including pennies
18% = GTA residents as a proportion of Canada's total population
97% = chance that an RFDer lives in the GTA when he posts something location specific, without giving a location

Were you hit with surprise customs/import fees on an Amazon.ca purchase?
Deal Fanatic
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Jan 27, 2007
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List them on a buy and sell site on Facebook. People buy them for crafts and table tops. In my experience 2-3X face value minimum.
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Aug 28, 2010
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Toronto
It is not but if penny is no longer legal tender then maybe now?

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