Final Canadian Pennies Fetch Over £4,000 At Auction

The Royal Canadian Mint announced last year that production of the one cent Canadian penny coin would cease, with the last penny being struck on 4th May 2012.

Since this announcement, numismatists all over the world had eagerly anticipated obtaining some of the last of these pennies, which were first struck by Canada in 1858.

It came as little surprise then that when the Mint offered the final million pennies struck in 20,000 individuals rolls of 50 coins, they sold out in under a week.  This incredibly rapid sell-out came despite a limit of one roll per household.

Each roll of pennies was individually numbered by the Royal Canadian Mint, so when roll 20,000 of 20,000 recently appeared on auction site EBay, interest was understandably massive.

After 87 bids, the winner claimed the roll of final Canadian pennies for $6,600, or just over £4,000 – a huge numismatic premium considering the seller would have originally paid just $9.95 for the roll from the Royal Canadian Mint.

Whilst the lucky owners of the other 19,999 rolls perhaps can not expect a similar return on their pennies in such a short period of time, they should be able to expect to look forward to the rolls commanding a considerable premium in the years to come, due to the numismatic importance of their coins.

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