In early 2025, a pristine 1974 Canadian penny graded ICCS PL-67 sold for over $200 CAD—an eye-opening result for what many consider an every-day cent. This market surprise underscores how late-date bronze cents can command significant interest when exceptional condition or die-variety attracts specialist collectors.
The 1974 penny, struck at the Royal Canadian Mint in Ottawa, brings together Arnold Machin’s dignified portrait of Queen Elizabeth II and G.E. Kruger-Gray’s elegant maple-twig reverse, making it both a piece of modern Canadian history and a still-accessible numismatic challenge for serious U.S. hobbyists.
Key Identification Details
- Denomination: 1 cent
- Date: 1974 (no mint mark; all coins produced at Ottawa)
- Obverse Designer: Arnold Machin (portrait of Queen Elizabeth II)
- Reverse Designer: G.E. Kruger-Gray (maple twig motif)
Place a concise table of current market values (grades G-4 through MS-67) here to guide quick appraisal before diving into deeper diagnostics and history.
| Grade | PCGS Bid–Ask (USD) | Recent Auction Realizations (CAD) |
|---|---|---|
| G-4 | — | $0.04–$0.06 |
| XF-40 | — | $0.04–$0.12 |
| MS-60 | — | $0.50–$2.00 |
| MS-65 RB | — | $12.74–$20.00 |
| MS-67 RB | — | $550–$760 |
Exact Specifications
The 1974 cent weighs 3.24 g (±0.02 g) on a precise scale, spans 19.05 mm in diameter (±0.10 mm), and carries a plain edge. Composition is 98 % copper, 0.5 % tin, and 1.5 % zinc, struck on a high-speed screw press at the Ottawa facility. Its pure bronze alloy renders it non-magnetic—an invaluable quick check to rule out ferrous counterfeits.
Mintage & Historical Context
In 1974, Ottawa produced 692,058,489 pennies, according to the Royal Canadian Mint’s Annual Report . This massive output followed a brief experiment in 1967 with a redesigned “Rock Dove” cent, and was driven by rising domestic demand amid 1970s economic growth. Unlike the wartime shortages of the 1940s, the RCM faced no metal constraints, so it flooded circulation to replace worn bronze cents from earlier decades.
| Year | Mintage | Source |
|---|---|---|
| 1974 | 692,058,489 | RCM Annual Report (1974) |
Varieties & Die Diagnostic
Though the 1974 penny lacks major obverse/back mint-mark splits, specialists record subtle varieties:
- RPM-01 (Repunched Date “4”): Look at the tail of the “4” under 10× magnification—an elevated second stroke just above the primary serif indicates genuine repunching (true raised relief), not mere contact doubling.
- DDO-01 (Doubled “CANADA”): Under strong light, you may detect faint doubling on the baseline of the A–A in “CANADA” on the obverse. Genuine doubling will show crisp second lines of metal, whereas mechanical doubling appears as soft shadows.
- Reverse Die Crack: A fine crack extends from the “S” of “CENTS” toward the lower leaf of the maple twig, visible as a thin raised hairline in the field.
For each variety, insert line-drawn diagrams or photos with arrows marking the diagnostics immediately below this narrative.
Authentication hinges on die-marker clarity. Casting seams around the rim betray reproductions, while genuine die cracks exhibit subtle metal relief without flow lines.
Designer G.E. Kruger-Gray’s initials “KG” hide under the maple twig’s right leaf.
Grading Standards
Serious collectors rely on visual hallmarks rather than vague terms. Under G-4, legends may blur but date and central motifs remain legible; rims show heavy wear. By XF-40, only the highest nodes of the portrait and twig reveal light friction. MS-60 coins exhibit unbroken fields but scatter of bag marks and subdued luster. At MS-65, strikes are bold, surfaces gleam, and contact marks remain confined to peripheral zones. True perfection in this series is rare—MS-67 examples show razor-sharp devices, full cartwheel luster, and only microscopic surface abrasions under 5× magnification.
Place three thumbnail images (G-4, MS-60, MS-65) side-by-side with captions to illustrate the progression of wear and luster.
Market Analysis
Recent Heritage auctions and online platforms reveal that MS-64 specimens typically trade around $12–$15 CAD, while MS-66 RB coins command $50–$60 CAD. Exceptional MS-67 examples have fetched up to $760 CAD in late-2024 listings. A standout PL-67 ICCS proof brought $200 CAD in February 2025, demonstrating that specialist-graded pieces can eclipse even top-grade circulation strikes.
| Grade | Avg. Auction Price (CAD) | Total Sales (2024–25) |
|---|---|---|
| MS-63 | $1.00 | 1 |
| MS-64 | $12.74 | 10 |
| MS-65 | $14.60 | 35 |
| MS-66 | $55.35 | 19 |
| MS-67 | $657.07 | 2 |
Highlight here the January 26, 2025 sale of an MS-67 RB example (Lot N/A) realizing $710 CAD—the single strongest circulation strike result on record.
Counterfeit & Preservation Watch
Collectors must guard against modern forgeries. A simple magnet test rules out steel-based fakes. Inspect rims for irregular seams or flow lines that betray cast reproductions. True struck die cracks and repunched dates show crisp, raised metal—artificially induced cracks or laser-etched features appear pitted or too uniform.
Toning on genuine bronze cents evolves slowly into russet or deep brown; vivid blotchy blues or purples signal artificial treatments. Include a magnified “toning comparison” photo with overlay notes to guide collectors in differentiating natural patina from chemical shortcuts.
To preserve original surfaces, store cents in archival-safe Mylar flips or inert 2×2 holders. Avoid PVC flips, which leach plasticizers and accelerate bronze corrosion (“bronze disease”). Maintain relative humidity at 40–50 % to minimize active oxidation.
Did You Know? Canada trialed a smaller steel-plated cent in 1977–78, but confusing similarity to transit tokens led to its abandonment.
Collector’s Corner: Roll-Hunting & Acquisition
Despite massive mintage, unsearched Canadian penny rolls occasionally surface in U.S. banks bordering Canada, especially in regions servicing cross-border communities. When roll-hunting, peel back end wrappers to check for uncirculated red or red-brown specimens. Bulk lots at major auctions (e.g., GreatCollections) can yield choice rolls at modest premiums.
Top dealer sources include Chesterfield Coins (Maryland), noted for stocking high-grade Canadian cents, and online venues such as CoinsandCanada.com. At major bourse shows (Whitman Baltimore, ANA World’s Fair of Money), RCM selling programs often include fresh red-bronze rolls and certified higher grades—plan your visits in autumn to align with these events.
The 1974 issue marks the final high-volume bronze cent before minor alloy tweaks in later years.
Frequently Asked Questions
Why does the 1974 cent lack a mint mark?
All small cent production from 1908 until the 2012 phase-out occurred solely at Ottawa, so mint marks were not applied.
Can I profit by melting cents?
No. Face-value mint metal (~$0.04 CAD) falls well below collectible premiums and the cost of scrap processing.
Are there any 1974 error varieties worth hunting?
RPM-01 repunched 4 in MS-64+ grades yields a niche premium of 10–20 % among dial-variety specialists.
Should I buy certified or raw pieces?
For grades MS-66 and above, third-party grading (PCGS, NGC, ICCS) offers market confidence. Collectors seeking raw XF-40 to MS-63 coins may find better value in ungraded purchases.