The Royal Canadian Mint has released new one-ounce silver coins in remembrance of the last one-cent coin. It was 10 years ago in 2012 that the last Canadian one-cent coin, or penny, was struck at the Royal Canadian Mint’s Winnipeg facility. The Canadian one-cent coin had been in use since 1858, which was even before the confederation in 1867. The coin was struck in copper with a diameter of 25 millimetres and a weight of just over 4.5 grams. From 1876, the one-cent coin produced at the Royal Mint in London was struck on British half penny blanks as the two coins were roughly worth the same in trade. It wasn’t until 1920 that one-cent coins were reduced in diameter and weight to the coin which became more familiar to Canadians. At just over 19 millimetres in diameter and a weight of 3.24 grams of copper, the coin was easier to transport and use in general circulation. The coin underwent an additional change in 1982 when it was augmented into a 12-sided shape in an effort to decrease its weight slightly. The coin returned to its original round shape in 1996 but finally, due to the coin’s cost of production and lack of buying power, it was decided to retire the denomination altogether in 2012. The last reverse design introduced in 1937 was created by the eminent sculptor George Edward Kruger-Grey for the new coinage of King George VI and remained until the coin was discontinued. During its use, there were two obverse variations used during King George VI’s reign and four effigies for the coinage of HM Queen Elizabeth II. In 1967, the reverse design was substituted with a commemorative design in celebration of the Canadian centenary of confederation.
Curiously, in 2011 the Royal Canadian Mint minted 1.1 billion one-cent pieces, which was more than double the 2010 production number of 486.2 million cent coins. At the time of the coins’ retirement, the Royal Canadian Mint estimated there were more than 35 billion one-cent coins in circulation (or more likely in jars and/or junk drawers of every Canadian household). This staggering number averaged out to about 600 one-cent coins for each Canadian citizen. The coins still remain legal tender for payment but only to the value of not more than 25 cents per transaction, though the coin all but disappeared from public use within the year it was discontinued.
The reverse side is a reproduction of the beloved one-cent circulation design by G. E. Kruger Gray and seen on most Canadian pennies issued between 1937 and 2012. The maple leaf twig, which features two maple leaves on the same twig, has been brought out of retirement for a limited appearance as tribute. Struck in a tailored specimen finish, the maple leaves feature a soft satin finish. In contrast, the field is filled with angled lines that meet at the centre; those lines are a nod to the pyramid-shaped Winnipeg facility where the coins are struck. The text 1 CENT is placed above the leaves and the year 2022 is seen just to the left. The additional text CANADA is positioned just under the primary design. Also featured is the “W” mintmark signifying the coin was struck at the mint’s facility in Winnipeg, Manitoba, and where all Canadian pennies were minted between 1976 and 2012. The obverse features the effigy of Her Majesty Queen Elizabeth II by Susanna Blunt.
|31.1 g||38 mm||Tailored Specimen||
The silver one-ounce coin is individually encapsulated and presented in a Royal Canadian Mint-branded custom case accompanied by a numbered certificate of authenticity. For additional information, please click here.