Personal Finance

Are Canadian Pennies Worth More Than 1¢?

  • Last Updated:
  • Jan 20th, 2019 10:01 pm
[OP]
Deal Expert
Nov 16, 2004
15970 posts
3104 upvotes
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?
RedFlagDeals addict
22 replies
Deal Guru
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Mar 9, 2007
11374 posts
6196 upvotes
Think of the Childre…
no

WOULD SOMEBODY THINK OF THE CHILDREN!!!
Deal Expert
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Nov 15, 2004
17545 posts
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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?
Penalty Box
Dec 16, 2017
2538 posts
1019 upvotes
CND Brain & Hear…
not gonna lie but I bring Canadian pennies down to US Coin Counter LOL
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Deal Fanatic
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Dec 28, 2007
6163 posts
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Alberta
Nope. Trade them in and buy a couple of Big Mac meals.
Penalty Box
Dec 16, 2017
2538 posts
1019 upvotes
CND Brain & Hear…
@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.
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Jr. Member
Aug 27, 2018
172 posts
162 upvotes
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.
Deal Expert
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May 10, 2005
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Ottawa
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.
The Government cannot give to anybody anything that the Government does not first take from somebody else.
Deal Addict
Oct 13, 2014
1704 posts
998 upvotes
Just Moved To Somewh…
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/
“Before one can have a Clue they must first accumulate 10 Inklings. That said, all it takes is one bad post and you erase all Clues accumulated'"
Deal Fanatic
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Jan 9, 2011
5621 posts
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Vancouver
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
Deal Fanatic
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Jan 27, 2007
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Peterborough
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.
Deal Addict
Aug 28, 2010
1057 posts
209 upvotes
Toronto
It is not but if penny is no longer legal tender then maybe now?

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