1978 Canadian Penny Error – Everyone knows that for many decades, money is the most-used payment instrument since a long time ago. However, the first payment instrument is not a banknote but a coin, or we can call it a “penny”. It was becoming the first currency authorized by the United States in 1792.
The penny was minted to symbolize the spirit of the nation. In this section, we are going to have a discussion, especially about the 1978 Canadian Penny Error.
History Of 1978 Canadian Penny Value
After The Second World War, Canadian coins were having high demand, so the production of coins increased from ten million to a hundred million.
In 1976, the Royal Canadian Mint company produced almost 700 million pure copper pennies.
The production cost of the coin was highly increased over the year. Thus, in 1977, the Master of the Mint named Yvon Gariepy gave the solution to reduce the size of the coin became smaller from 19 mm to 16 mm.
Along with the rule of reducing coin size, the new design of the coin was created with a simple and modern look, it was also produced for other nations.
The Royal Canadian Mint Company
This company is a coin mintage company based in Ottawa, Ontario, Canada (French: Monnaie Royale Canadienne). The company was established on 2nd January 1908.
It has not only coinage service but also precious metal storage, assay, and refinery. The owner of the company is the Government of Canada.
Technically, the president of the Royal Canadian Mint is commonly known as the Master of Mint. Marie Lemay is the president and CEO of the company who was appointed in 2019 until the present.
Beside coin production, the mint also designs and makes gold, silver, platinum bullion, medals, palladium, and tokens as well. The company also gets more than twenty-three award-winning coins.
You can also visit Royal Canadian Mint and see how the coins are produced, you can see also more than $1 million in pure gold bars. It will be a very memorable moment if you can visit there and have a new knowledge also experience.
Who Designed The Canadian Penny?
The 1978 Canadian Penny was designed by Arnold Machin and George Edward Kruger Gray. Let’s get to know more about them.
Arnold Machin was born on 30th September 1911. He was very well-known as a British artist, sculptor also coin and postage stamp designer. Machin studied at Royal College of Art, London.
He was chosen by Queen Elizabeth II to design a new image for decimal coinage which was used in Canada as well. He passed away on 9th March 1999 in Staffordshire. He died at the age of 87.
- E. Kruger – Gray who had the complete name George Edward Kruger Gray was born on 25th December 1880 in Kensington, United Kingdom.
He was most remembered for his design of coinage and stained glass windows. He attended his education at the Royal College of Art. He died on 2nd May 1943 in Chichester, United Kingdom.
What Does 1978 Canadian Penny Look Like?
The total mintage of 1978 Canadian Penny is 911.170.647. The composition of the penny are 98% copper, 0,55 tin and 1,5% zinc.
With the weight is 3,24 grams and the diameter is 19,05 mm. While the edge is plain. The symbol on the penny is the maple leaf which described the pride of the nation.
However, on the modern coin, it featured the same twig of two maple leaves. It was minted in Ottawa Mint, Ottawa, Canada.
There is an initial KG under the maple leaves which was purposed for the designer, Kruger Gray.
The ruler of the nation at that time is Queen Elizabeth II. So then, the feature of the penny is the Queen’s portrait of the shoulder up, when she was 39 years old. And the surrounding is written “ELIZABETH II D . G . REGINA”.
The full form of that is ELIZABETH II DEI GRATIA REGINA which means Elizabeth II, by the Grace of God, the Queen. While the reverse side depicts a maple leaf twig with the inscription of “CANADA”.
How Did The 1978 Canadian Penny Error Happen?
Nothing is perfect, it can be similar to describing to 1978 Canadian Penny Error. The term ‘Mint-made Error” means the error or fault which happens during the minting process.
While the coin is produced and minted, there will be some errors and mistakes that happen technically, so then some coins will be not as perfect as the expectation.
Of course, not all coins, probably will be some of them. A group of coins that have distinctive characteristics was called variety.
Here are some common things that happen on 1978 Canadian Penny Error while coin mintage is off-center error, broad strike error, clipped planchet, wrong planchet, brockage and die clash.
Other Canadian Penny References:
1934 Canadian penny 1940 Canadian penny 1941 Canadian penny value 1945 Canadian penny 1973 Canadian penny 1976 Canadian penny value 1978 Canadian penny value 1983 Canadian penny 1985 Canadian penny 1993 Canadian penny 1867 to 1967 Canadian penny value 1952 to 2002 Canadian penny value Canadian penny 1867 to 1992 value
The penny with a very rare characteristic whether intentionally or unintentionally made will be worth more than a thousand dollars.
How Much Is A 1978 Canadian Penny Worth?
We are all wondering how much the 1978 Canadian penny is worth? And you know? It is worth one cent. While we can compare to 1900 Penny Value UK which has an average approximately worth $30.
The rarest and the most valuable Canadian penny is the 1936 “dot” 1 cent coin which was only three for total production. And it was recorded for $400.000 in a coin auction in 2010.
If you are a coin collector and want to buy the 1978 Canadian Penny, you can buy it online on these websites: 2 Clicks Coins, Provident Metals, eBay, Etsy, and CoinMart. Keep in mind that coin collection is not only fun but also can be an investment in the long term. Why? because the more rare and ancient the coins will be the more valuable in the future.
Related:
1942 Canadian Penny
1956 Canadian Penny
1947 Canadian Penny
1943 Canadian Penny