You probably have a jar of them somewhere. Or maybe a dusty Ziploc bag tucked in a junk drawer. Ever since Canada officially killed off the penny back in 2012, they’ve become these little copper ghosts of our economy. Most are worth exactly one cent, or maybe two if you melt them down (don't do that, it’s technically illegal). but there is one specific coin that breaks all the rules.
We’re talking about a penny so rare that only three people on the planet can actually own one at any given time. This is the 1936 Dot cent, the undisputed heavyweight champion of Canadian numismatics.
If you found one of these in your grandad's old collection, you wouldn’t just be looking at a piece of history. You’d be looking at a retirement plan on a small bronze disk. One of these sold at auction for over $400,000. That’s not a typo. Four. Hundred. Thousand. Dollars. For a penny.
The Most Rare Canadian Penny and the King Who Quit
To understand why this coin exists, you have to understand the mess that was the British Monarchy in 1936. King George V died in January. Usually, the Mint would just start prepping dies for the new King, Edward VIII.
But Edward had other plans.
He wanted to marry Wallis Simpson, a twice-divorced American woman. The Church of England said "no way," and the government basically gave him an ultimatum. Edward chose love over the crown and abdicated the throne in December 1936.
This created a massive headache for the Royal Canadian Mint. They were already low on pennies for the upcoming year, and they didn't have any dies for the new King George VI yet. They couldn't use the Edward VIII dies because he wasn't king anymore, and they couldn't just keep minting regular 1936 pennies because they needed to track the 1937 production.
🔗 Read more: At Home French Manicure: Why Yours Looks Cheap and How to Fix It
Basically, they improvised. They took the old 1936 dies and punched a tiny, microscopic dot right below the date.
How to actually spot the 1936 Dot cent
Honestly, most people get this wrong. If you look at a normal 1936 penny, you’ll see some decorative dots between the words "CENT" and "1936." Those are normal. Every 1936 penny has those.
The "Rare" dot is different. It’s a tiny, raised bump sitting solo just below the "6" in 1936. It looks like a mistake. A pimple on the coin.
But that pimple is worth more than a Ferrari.
Official records from the Mint say they actually made 678,823 of these dotted pennies. So where did they go? Nobody knows for sure. The prevailing theory is that they were almost all melted down before they ever hit the streets of Toronto or Montreal. Only a handful—literally maybe three to five specimens—managed to escape the furnace.
Other Heavy Hitters in the World of Rare Pennies
While the 1936 Dot cent is the "Holy Grail," it isn't the only penny that'll make a collector's heart skip a beat. If you're digging through old change, there are a few other dates that are worth way more than face value.
💡 You might also like: Popeyes Louisiana Kitchen Menu: Why You’re Probably Ordering Wrong
- The 1923 Small Cent: This is a "key date" coin. In the early 20s, Canada didn't need many pennies, so they didn't make many. Only about a million were minted. Compared to the 80 million they'd pump out in later years, that's nothing. A decent 1923 penny can easily pull $25 to $100, and if it's in "Mint State" (looks like it just came out of the machine), you're looking at thousands.
- The 1925 Small Cent: Same story as the '23. Low mintage, high demand. It’s actually even rarer in high grades.
- The 1955 No Shoulder Fold (NSF): This one is for the eagle-eyed. On the 1953-1955 pennies, there's a version of Queen Elizabeth II where her shoulder strap is missing. It’s a variety caused by a die change. The 1955 NSF is particularly tough to find and can be worth a few hundred bucks in good shape.
- The 1858 Large Cent: Before pennies were small, they were huge. Like, almost the size of a modern loonie. 1858 was the first year Canada (then the Province of Canada) issued its own cents. Because it’s the "first," it’s incredibly popular.
Why the 1936 Dot Cent Fetches $400,000
It’s all about the pedigree. For decades, the famous collector John Jay Pittman owned the only three known specimens. He bought them for almost nothing back in the 1950s. When his collection finally went to auction after he passed away, the coin world went absolutely nuts.
One of those coins, graded as Specimen-66 Red, sold for $402,500 in 2010.
Think about that. It's a coin that technically shouldn't exist. It represents a king who quit, a mint that was scrambling, and a mystery that has lasted almost a century. That's why it's the most rare Canadian penny. It’s not just metal; it’s a scandal you can hold in your hand.
Myths and "Fakes" You Should Know About
You’ll see people on eBay all the time claiming they’ve found a "1936 Dot cent." 99.9% of the time, they are looking at the wrong dot. Or, even worse, someone has literally taken a regular penny and tried to glue a tiny piece of metal onto it.
Real dots are struck, not added. If you look at a genuine dot under a microscope, it has the same flow lines as the rest of the coin. It’s part of the metal, not an intruder on top of it.
Also, watch out for "re-engraved" dates. Sometimes people try to turn a 1938 into a 1936. If the numbers look wonky or uneven, stay away.
📖 Related: 100 Biggest Cities in the US: Why the Map You Know is Wrong
What You Should Do Right Now
If you actually think you've found something special, don't clean it. Seriously. Do not touch it with baking soda, vinegar, or even a soft cloth. Collectors want "original skin." Cleaning a rare coin can instantly wipe out 90% of its value.
Instead, take these steps:
- Get a 10x Magnifier: You can't see the real details with the naked eye. You need to see the "fields" (the flat parts) of the coin.
- Check the Date and the "Dot" Location: On the 1936, the dot must be centered under the space between the 3 and the 6, slightly more towards the 6.
- Compare to a 1923 or 1925: If you find these, you’ve still won. They aren't $400,000 coins, but they are $100 coins all day long.
- Look for "Red" Luster: If the penny still looks orange or red like copper, it’s worth significantly more than if it’s turned brown.
- Visit a Professional: If you're in Canada, look for a dealer affiliated with the Canadian Numismatic Association. They won't steer you wrong.
The penny might be dead in our pockets, but in the world of high-stakes collecting, it’s more alive than ever.
Search your old change jars. Look for that tiny, scandalous dot. You might be sitting on a fortune and not even know it.
Invest in a proper numismatic grading guide like the "Charlton Standard Catalogue of Canadian Coins" to accurately identify varieties and mint marks. If your coin matches the specific markers of a 1936 Dot or a 1923 Key Date, submit it to a third-party grading service like PCGS or ICCS for professional authentication and slabbed protection.