When was the first Canadian penny made? The answer to this question takes us back to the early 19th century, a time when Canada was still a British colony. The first Canadian penny, known as the “Large Cent,” was minted in 1858. This coin played a significant role in the country’s early currency system and has since become an iconic symbol of Canadian history.
The story of the first Canadian penny begins with the need for a standardized currency in the young colony. At the time, Canada used a variety of currencies, including British pounds, Spanish dollars, and American dollars. The lack of a uniform currency made trade and commerce difficult, prompting the government to seek a solution.
In 1851, the British Parliament passed the Canada Act, which allowed the Canadian government to coin its own money. This act paved the way for the production of the first Canadian penny. The Mint of Canada, established in 1855, was responsible for minting the coins, and the first Large Cent was minted in 1858.
The Large Cent was designed by British engraver William H. Wyon. It featured a profile portrait of Queen Victoria on the obverse side and the value “ONE CENT” in English and French around the rim. The reverse side depicted a shield with the arms of Canada, surrounded by the legend “CANADA” and the year “1858.”
The Large Cent was in circulation from 1858 to 1870. During this period, it became an integral part of Canada’s economy, facilitating trade and daily transactions. However, due to its high production cost and the introduction of the smaller “Small Cent” in 1859, the Large Cent was gradually phased out.
The Small Cent, also known as the “One Cent Coin,” was minted from 1859 to 1901. It featured a profile portrait of Queen Victoria on the obverse side and a beaver on the reverse, symbolizing Canada’s economic strength and its role as a leading fur trading nation. The Small Cent is still considered a classic Canadian coin and is highly valued by collectors today.
The first Canadian penny has not only played a crucial role in the country’s economic history but has also become a symbol of Canadian pride and identity. Over the years, the penny has undergone several design changes, reflecting the evolving history and culture of Canada. Today, the penny remains a popular collectible and a reminder of the nation’s rich past.
