Last updated on May 2nd, 2024 at 03:35 pm
Last Updated on May 2, 2024 Posted by Colonial Acres Coins
When it comes to rare Canadian coins, there are, ironically, many of them in existence today. Some are rare because they only exist in very small numbers, while other ones were minted specifically for that purpose. Certainly, one of the rarest examples currently in circulation is the “Dot Cent” penny produced in 1936. With just three of these rare coins produced, enthusiasts view them as some of the most highly sought after coins. During King George V’s last year of sovereignty, the Royal Canadian Mint produced millions of pennies, but these special three stand apart from their commonplace cousins, bearing an unusual dot beneath the date on the reverse of the coin.
The History Behind This Remarkable and Mysterious Coin
This is a coin specimen that owes its existence to a historical conundrum. Namely, the Royal Canadian Mint’s moulds with King Edward VIII’s bust on them became invalid after his unexpected abdication in December 1936 to marry American divorcee Wallis Simpson. But, in the interim, the mint resorted to using 1936 George V moulds stamped with a dimple-like dot to distinguish them from the ones minted before. Unfortunately, these dotted pennies never entered circulation as the penny test-run was deemed unsuccessful. Decades went on while the three pennies and some equally orphaned dimes sat idle in the mint before being purchased and held for years by a private collector. Rumours have it that there are still a few more of these coins lurking around in the hands of private collectors, but this remains unconfirmed.
The Value Behind the Series
Although only three of these rare coins are believed to exist, two of them have ended up together. A former employee of the Royal Canadian Mint, Maurice LaFortune of Ottawa, is the proud owner of the pair while the third has had a more tumultuous history. An established friend of a senior official at the Mint, Ottawa coin collector Tom Roberts, sold his rare penny to the legendary American enthusiast John Jay Pittman. During his lifetime, Pittman put together an impressive collection of coins, notes and other numismatic rarities before his death in 1996. This collection was estimated to be worth somewhere in the region of $30 million. Among his most prized possessions were the three dotted Canadian pennies. One went on to be sold in 1999 for $115,000, while another was auctioned in 2003 for $230,000 and then resold in 2010 for $402,500. The third one was sold in 1997 for $121,000 and again in 2004 for $207,000.
Looking to Learn More About Rare and Mysterious Coins? Check Out Colonial Acres Coins
Learning more about rare and interesting coin pieces can be done in a number of ways, but it is always important to start with a reputable and trustworthy source. If you’re eager to learn more about rare Canadian coins, one of the best places to start is Colonial Acres Coins. Colonial Acres has been in business for more than two decades and is home to a vast array of incredibly interesting, rare, valuable and mysterious coins pieces from the world over. It is the perfect place to learn more about virtually any coin piece you’re interested in, as well as get expert, firsthand information from the team of professional numismatists who call Colonial Acres home. Head down to Colonial Acres today and enrich both your knowledge base and your coin collection.
