Coin Profiles: 1936 Canadian “Dot” Penny

In every collecting hobby or profession, one thing holds true: the rarer an item is, the more valuable it becomes. Serious collectors always look for rare collectibles, because scarce items, especially when they are intricately designed or hold a historical value, require serious work and effort to find. Rare items also skyrocket in value once the number reduces to less than a handful. This is also true in coin collecting. Rare coins are hard to find of course, especially since there are fakes circulating around.

If you are a coin collector and are eager to find rare and legit coins, you must be equipped with proper knowledge of the coins you are searching for. This way you can avoid fake coins and rip off deals. If you are in the lookout for rare coins, then the 1936 Canadian “Dot Penny” is one that should be on your list. It’s extremely rare, that only 3 are believed to exist by 2010. The value of this coin has multiplied by 25 million times its face value, and has been in auction for about $400,000 in 2010 in a coin auction.

Only three of these pennies are known to exist. The Dot Penny has a dot below the date to indicate that it was actually made in the year 1937, instead of the minting date 1936 inscription on the coin. This dot was related to King Edward VIII’s abdication in the same year he ascended the throne. Because of his sudden abdication, the Royal Canadian Mint encountered problems regarding coin dies with the new king’s effigy, and thus resorted to produce a small number of coins with a tiny dot below the date to denote that this batch of coins were struck in 1937.

There were only 3 denominations struck with the dot. There were 25-cent, 10-cent and 1-cent pieces, but the rarest is the 1-cent coin. There were only 3 examples known to exist, and because of this, the value of the coin went higher over time. The legendary coin collector, John Jay Pittman, collected the three coins in 1954. After his death in 1996, the coins were auctioned off.

It is hard to distinguish the rare coins because there are only 3 to compare with. Coins shops are always available to help collectors appraise and verify their coins. The 1936 Dot Penny has a very tiny dot below the 1936 inscription, somewhere between the numbers 9 and 3. The dot is almost in line with the start of the number 3 and is found halfway between the date and the coin edge.

Coin shops are open for appraising coins and educating collectors with the characteristics of the coins they seek. Colonial Acres Coins provide free appraisals that can help you determine the value of your coins, whether they be rare collectibles or not.