Canadian Cents
Earlier in this week, I found part of my Great Grandmother's hoard of old currency. Only the newer part of this collection, still missing those draped bust quarters, it was still filled with old coins from the 40's, 50's, and 60's. But one coin stood out. A 1929 High 9 Canadian one cent piece. This books for about $15. It has a very nice reverse design, it compelled me to learn more about Canadian cents.
Originally in Canada, the two cent piece was called a penny, but after the Royal Canadian Mint ceased their production, and the one-cent-piece got its current slang term. The word "cent" actually means "hundred" in French, and their are many slang terms in use of the one-cent-piece today. Until 1858, closely dated to the U.S. 's independence of coinage, Canada was dependent upon Spanish milled dollars, and British Pounds. The one cent pieces started production that year. As with most world coins, the obverse designs are dependent upon the monarch, or leader of that year of production. These first cents were about .16 of an ounce, close to our modern cent. Minting was stopped in May 2012, although they remain legal tender. retailers are not expected to give out one-cent-pieces in change anymore, and now round it to the nearest five cents, but the credit system in Canada still goes to the nearest one cent. On February 4,2013 The Royal Mint stopped distributing them. People were expected to start giving back the "pennies" in circulation. That year they started melting the more than 35 billion one cent pieces. The production of the monetary system in America and Canada are closely intertwined. Many Americans want one cent pieces to go away, but legislation is thankfully prohibiting that. even the composition is almost identical to The United States of America. In 1858 and 1859, the comp. was 95% copper 4% Tin and 1% Zinc, for the U.S. it was 88% copper and 12% nickel. 1876-1920, It was 95.5% copper 3% Tin, and 1.5% Zinc. For America, it was mostly 95% copper, 5% Tin or Zinc. From 1920-1941 their comp was the same, and for us it was also. Unaffected by World War Two, they composition remained very close to the previous years, unlike America who changes ours to what closely resembles the composition of the modern day issues of the Canadian Cent, Steel.
Today the Royal Canadian Mint is the world's largest, and goes through the most silver and gold in the world. This mint has many modern day bullion coins, and has something of interest for everyone.
Comments
CoinLady
Level 6
I used to pick Canadian cents of the 1920s out of a dealer's junk box.
"SUN"
Level 6
The Royal Canadian Mint produces some nice items, but way too much.
Kepi
Level 6
I like the Royal Canadian Mint. They seem to have a lot of nice designs, especially in their animal series! Great blog and information. Thanks!
Mike
Level 7
I still find them in change. That mint does charge more for items. Thanks
Longstrider
Level 6
The modern Royal Canadian Mint has some very interesting coins in bullion. They aren't afraid to try new things and ideas! Thanks.