Magnetic Penny? Is It Supposed To Be? - Coin Community Forum (2024)

MontCollector

I was going through my old piggy bank checking some foreign coins. I came across a 1952-2002 (P) (yes that is the date on it) penny that is magnetic. I have lots of other Canadian pennies (some newer some older) and none of them stick to a magnet. Is this year made different?

I have also noticed this is the only Canadian penny I have with the date on obverse under bust, instead of reverse by maple leaf.

Thanks Mont.

Canacoins

Posted04/18/2016 02:56 am

Date under bust commemorates Elizabeth the 2nd's 50th year on the throne.
Steel(cps) cents began in 1999. Both that and copper plated zinc(cpz) have been used since.
The "P" represents a composition mark not Mint mark."P" is steel,no"P" cpz.
There are varieties. You have/find a 2002 no "P" it has a small premium. MS condition.

MontCollector

Posted04/18/2016 03:04 am

DOH! I feel sheepish! Ok TY. I have several 2006 pennies and was waving a magnet over them, and it accidentally picked this one up next to them. Didn't know about the P being a composition mark.

ace_ftw

Posted04/18/2016 11:53 am

There are actually several wrong planchet errors where they should be magnetic, but are not, and vice versa. you should check out coinsandcanada.com this is one of the better resources for all errors and varieties.