In Canada, a penny (minted 1858–2012) is an out-of-production coin worth one cent, or of a dollar. According to the Royal Canadian Mint, the official term for the coin is the one-cent piece, but in practice the terms penny and cent predominate. Penny was likely readily adopted because the previous coinage in Canada (up to 1858) was the British monetary system, where Canada used British pounds, shillings, and pence as coinage alongside U.S. decimal coins and Spanish milled dollars.
In Canadian French, the penny is often known by the loanword cent; in contrast with the heteronymous word meaning "hundred" (), this keeps the English pronunciation . Slang terms include , , or (black penny), although common Quebec French usage is .
Production of the penny ceased in May 2012, and the Royal Canadian Mint ceased distribution of them as of February 4, 2013. However, the coin remains legal tender. Nevertheless, once distribution of the coin ceased, vendors were no longer expected to return pennies as change for cash purchases and were encouraged to round purchases to the nearest five cents. Goods can still be priced in one-cent increments, with non-cash transactions like credit cards being paid to the exact cent.
Description
Like all Canadian coins, the obverse depicts the reigning Canadian monarch at the time of issue. The final obverse depicts Queen Elizabeth II; her likeness was introduced in 1953 and later saw three design updates, the first occurring in 1965, a 1990 update to the design of Dora de Pedery-Hunt, and the 2003 update designed by Susanna Blunt. A special reverse side, depicting a rock dove, was issued in 1967 as part of a centennial commemoration. It was designed by the Canadian artist Alex Colville, and its use in 1967 marked the only time the 1937 maple leaf design was not used for the penny before it was discontinued in 2012. The maple twig depicted on the coin is botanically incorrect as the phyllotaxis of the twig on the coin is clearly alternate, while maples always have opposite leaves.
Most pennies have a round, smooth edge. Pennies minted from 1982 to 1996 are twelve-sided. This was to help the visually impaired identify the coin. The 1997 copper-plated zinc coin proved difficult to plate in the twelve-sided shape, hence the mint reverted to a round shape.
History
The first Canadian cent was minted in 1858 and had a diameter of and a weight of . These cents were originally issued to bring some kind of order to the Canadian monetary system, which, until 1858, relied on British coinage, bank and commercial tokens (francophones calling them , an historical term from the French currency), U.S. currency and Spanish milled dollars. The coin's specifications were chosen with the intention of the coins also being useful as measuring tools. However, their light weight compared to the bank and merchant halfpenny tokens readily available at the time was a serious hindrance to their acceptance by the public. Some of the coins were even sold at a 20% discount, and were inherited by the Dominion government in 1867. Fresh production of new cents (with the weight increased to ) was not required until 1876.
The large cents of 1858–1920 were significantly larger than modern one-cent coins and even slightly larger than the modern 25-cent piece (its diameter being ). After Confederation, these large cent coins were struck on the planchet of the British halfpenny and were roughly the same value. Pennies were issued sporadically in the third quarter of the 19th century. They were used in the Province of Canada, New Brunswick, and Nova Scotia upon Confederation in 1867. New Brunswick and Nova Scotia had issued their own coinage prior to that date, with British Columbia, Prince Edward Island, and Newfoundland continuing to issue "pennies" until they joined Confederation. The coin was reduced to its modern size in 1920, bringing it closer in size to the American penny.
1936 dot cent
The rare 1936 dot cent is as notable in Canadian numismatics as the 50-cent piece of 1921. There were four minted specimens of this coin, produced with the dot to show they were made in 1937 while the mint was waiting for new dies due to a delay caused by the abdication of King Edward VIII and the need to create new dies for his successor, George VI. The last one sold at Heritage Auctions in January 2010 for over before taxes. It was graded specimen 66 by the Professional Coin Grading Service. Three known examples are in private collections, and the fourth is not in the Ottawa Currency Museum; it is one of few gaps in the museum's collection.