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Rare ‘dotted’ 1936 Canadian penny sells for $250,000

April 21, 2013 in Canadian Coins, Coins, Collecting, Numismatica, Numismatics, Pennies, Rare Coins

By Randy Boswell, Postmedia News April 20, 2013.

An ultra-rare Canadian penny has been sold at a U.S. coin auction for more than 25 million times its face value — about $253,000 Cdn.

The 1936 “dot cent” penny is famous in coin-collecting circles as one of only three such specimens known to have been produced that year by the Royal Canadian Mint. They are distinguished from the millions of other 1936 pennies minted in the final year of King George V’s reign by the miniscule dot placed below the date on the “tails” side of the coin.

Texas-based Heritage Auctions announced last month that the “legendary Pittman-Krause” dot penny — named for two notable collectors who had owned it previously — would be offered at this week’s annual international coin sale in Chicago.

And on Thursday, an unidentified Canadian collector purchased the penny for close to pre-sale estimate — about $250,000, including a $25,000 buyer’s fee paid to the auction house, a Heritage spokesman told Postmedia News.

It was the highest-priced item among the thousands of coins sold, the spokesman added.

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