Question for our Canadian members

[exnatomp]

Now that the Canadian government has stopped minting and distributing one cent coins, have they gone up in value in terms of collectibility? I live about an hour from the US Canadian border and Canadian coins are very common in circulation around here. For the past several years I have been pulling Canadian King George V and VI cents out of rolls when I find them (average: 2-3 per week). If I decide to sell them now, can I expect to get a premium for them, should I hold onto them and continue to build my hoard, or am I wasting my time and tying up my money? Thanks for your input.

 

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[BuffaloBoy]

I don't live near Canada, but I would imagine that the longer you hold onto the coins, the more collectible they will become.

 

[barneyb71]

I'm a few hours from Canada and find Canadian coins all the time. At this point I hang on to all the coins. Guess I'm up to about $100. I know a few are worth something but I just keep them in a bag for now. Don't know what I'll do with them. Hopefully they will go up in value if people start melting the pennies.

 

[fish on!]

My guess is that in the long term the common Canadian cents will be worthless. The ones that are rare due to low mintage etc will still be valuable. Look at all of the other demonetized coins in the world as a guide. Mexico revamped the peso about 20 years ago and the old version coins are now worthless. Same with the old large British pennies.

 

[BuffaloBoy]

Some obsolete foreign currency is still redeemable for current currencies of that same country... Mexico may not be one of them, but if I recall correctly, some of the European union countries are still exchanging obsolete bills and change.
I don't see Canada changing their dollar anytime soon.
But like you said, the rarer dates will retain, or likely increase in value, whereas the common circulated coins will retain their face value and/or melt value.

I save all Canadian coins that I get through coin roll hunting, maybe some day I'll visit Canada and have enough to cover some costs.

My guess is that in the long term the common Canadian cents will be worthless. The ones that are rare due to low mintage etc will still be valuable. Look at all of the other demonetized coins in the world as a guide. Mexico revamped the peso about 20 years ago and the old version coins are now worthless. Same with the old large British pennies.

 

[MIhunter]

My guess is that in the long term the common Canadian cents will be worthless. The ones that are rare due to low mintage etc will still be valuable. Look at all of the other demonetized coins in the world as a guide. Mexico revamped the peso about 20 years ago and the old version coins are now worthless. Same with the old large British pennies.

I agree with one small correction:
All Canadian one cent zinc or steel coins will continue to be worth face value, the government hasn't discussed any plan to demonetized the one cent.
1996 and earlier will be worth their copper bullion value (1.7 - 2.2 cents as of today).

Lower mintage, high grade coins will continue to rise in value.

In Metro Detroit, I have not yet seen a decrease in the prevalence of Canadian one cent coins.