What 2006 Canadian Penny Is Worth Money
Ed Agopian has been in the coin business for decades. At his shop in downtown Hamilton, he's just made the biggest find of his career.
The penny, as every Canadian knows, is dead. At the cash, they round down, they round up. And the smallest slice of alter you ever get dorsum is a nickel. It's as if the penny never existed. Now the Mint is melting those bandage-off coins by the millions. Only earlier the last 1's gone, here'due south a story most how one guy hitting the jackpot by watching his pennies. His name is Ed Agopian, proprietor of Imperial Money and Stamp on King East downtown. He'due south 62 and has been in the money business 35 years. I met him last summer. I had a 1976 Montreal Olympics gold coin. With new gold-ownership shops everywhere, I wanted to come across what they'd requite me for my coin. Long story short, 2 places offered me half what the coin was worth. Only Ed knew the correct value of my coin, and he knew information technology in an instant. I wasn't selling, but it was good to meet a human being who knew his trade. Dorsum to Ed'south large penny prize. It was a tedious day at the shop and he decided to get through pennies he'd bought from the bank dorsum in 2006. They were brand new, because there'due south a market for that. But recently, Ed sold somebody a brand-new roll of l 1955 pennies for $135. Anyway, he was going through those shiny 2006 coppers. L pennies to the curl, 50 rolls to the box, 2 boxes – 5,000 pennies in all. The mint had been putting out ii kinds of pennies – ones with a zinc-core that a magnet won't pick up, and ones with a steel core, that a magnet will pick up. Ed's batch was magnetic. And he noticed something was missing. Those 2006 magnetic coins were supposed to accept a little logo on the flip side, right below the image of the Queen – either a P, or the brand-new Royal Canadian Mint crown/maple-leafage logo that's now on all coins. Ed knew there'd been an fault that year, and that some pennies rolled out with no P, no logo. He knew they were rare. Merely in the first roll of 50 pennies Ed opened up, there were a couple with no logo. He opened another roll, and another. Past the time he was done, he had turned upward more than 500 no-logo coins. And yet, the respected International Coin Certification Service – which doesn't sell coins, simply grades them – had simply 290 on record until Ed's find. If you discover a 2006 magnetic, no P, no logo specimen in your penny jar, yous might become $50 for it. But the real prize is for uncirculated coins – factory fresh, mint status. And on eBay, 1 of the uncirculated pennies recently sold for $500, uncertified. Ed's are certified, and he's going to sell them for $635. Setting coin prices is a mysterious art. But if Ed can motility all his no-logo pennies at the asking price, his discovery is worth more than $300,000. He says he'll divert a little slice of the action to McMaster Children's Hospital. Funny matter. Ed had a robbery at the store in 2006. The thieves scooped upward rolls of dimes, quarters, dollars. They didn't carp with Ed's pennies. Ed is virtually to flood the market with a lot of no-logo magnetic pennies. He doesn't think that volition diminish the value, and is going to stay business firm on cost. He'south in no bustle to cash out and proceed a spending spree. "My wild days are over." Paul.Wilson@cbc.ca | @PaulWilsonCBC Read more CBC Hamilton stories by Paul Wilson here.5,000 pennies in all
These coins were rare
Source: https://www.cbc.ca/news/canada/hamilton/talk/paul-wilson-ed-checks-his-penny-jar-and-finds-300-000-1.1380742
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