1 Cent Coins from 2010-2012
Having first been minted in 1858, the one cent coin would be on its way out the door by 2010. In just two years, the Royal Canadian Mint would stop production and the very next year would decide to cease distribution of the one cent coin. Over the years, the one cent piece has changed obverse images to feature the reigning monarch and the reverse side design would also change, but still use the maple leaf in some form or fashion. Below is a little information about one cent coins from 2010 to 2012, the last years the coin was in production.
2010 One Cent Coin
No changes were made to the one cent coin in 2010. The coin is a collector’s item with options that are nonmagnetic and magnetic. However, no significant changes took place during this year of production.
2011 One Cent Coin
For the year 2011, the Mint would decide to stop minting superior quality coins for the standard mint sets. Instead, the Mint would use a standard MS coin that was not put through the post striking handling process. It is much harder to tell the difference between a MS coin and Proof-like coin during this year as there is no difference and no way to determine the different striking.
Two types of one cent coins were made in 2011. Some coins were done with copper plated zinc non-magnetic while others were copper plated steel magnetic. These coins were made for circulation strikes as well as mint sets.
2012 One Cent Coin
This year would be the final year that the coin would be produced. Production would stop in May and the Royal Canadian Mint would then decide to no longer distribute the coin starting on the 4th of February 2013.
Even though the coin was discontinued, it would still be proper currency within the monetary system of Canada. The coin is legal tender and can be used to make purchases. However, once the process of distribution stopped, vendors were not expected to use pennies to return cash with purchases by customers. Shop owners were given the ability to round purchases to the nearest five cents to try and get the penny out of circulation.
While cash transactions were rounded to the nearest five cents, non-cash transaction can still use the cent denomination.
Some coin collectors like to find coins from 2012, especially May of that year to have coinage representing when the production ceased. It is a nice addition to any collection and can be hard to find unless working with a company that specializes in coin collection.
This short time frame marked the end of the one cent coin for Canada. Over the years, the coin had changed the way it looked, its composition and even side appearance, but served its purpose as a common form of currency. Today, coin collectors like to add the one cent coin from various years due to the design, weight, or value. If you have any one cent coins in your collection, have them evaluated today to see just how much value you have in your collection.