2003 PENNY 5 TYPES

COINAHOLICS AUTONOMOUS
18 Jun 202313:25
EducationalLearning
32 Likes 10 Comments

TLDRIn this video, the presenter explores the five distinct types of the 2003 Canadian penny, highlighting their variations in material, effigy of Queen Elizabeth II, and magnetic properties. The discussion includes details on coin specifications, such as weight, thickness, and diameter, and delves into the value and rarity of each type, with a focus on a unique non-magnetic error coin considered the 'Holy Grail' of the series, valued at $5,000 due to its exceptional scarcity.

Takeaways
  • 🤔 In 2003, due to rising copper prices, Canada experimented with copper-plated steel and copper-plated zinc for their pennies, resulting in five distinct types.
  • 👑 There were two different effigies of Queen Elizabeth II used in 2003: the old effigy with a crown and the new effigy without a crown.
  • 🏹 All 2003 Canadian pennies share common features: a weight of 2.4 grams, thickness of 1.6 millimeters, and diameter of 18 millimeters.
  • 🧲 Some pennies were magnetic due to copper-plated steel, while others were non-magnetic, made of copper-plated zinc.
  • 🗝️ The reverse side of the coin features the iconic maple leaf, the word 'one cent,' and the year '2003,' along with 'Kruger Gray' and 'Canada'.
  • 🥇 The highest sale value of the old effigy coin was $150 for a mint state 67, while the new effigy coin's highest sale was $35 for a mint state 66.
  • 🔍 Coins with a 'P' under the bust were test pieces, typically not found in circulation but in proof sets.
  • 🏅 The 'Holy Grail' of 2003 Canadian pennies is the old effigy with a 'P' and non-magnetic, which is extremely rare and valued at around $5,000.
  • 🤑 The highest grade for most 2003 pennies is mint state 67, except for one with a grade of mint state 68.
  • 📈 The 2003 Canadian penny was discontinued in 2012, making it more challenging to collect all five types.
  • 🎥 The video also teases the next coin to be featured: the 2002 Tennessee state quarter from the United States.
Q & A

  • Why did Canada experiment with different materials for the penny around the millennium?

    -The price of copper was increasing, leading Canada to experiment with copper-plated steel and copper-plated zinc for the production of the penny.

  • How many types of the 2003 Canadian penny are there?

    -There are five types of the 2003 Canadian penny.

  • What are the two different effigies of Queen Elizabeth II featured on the 2003 Canadian pennies?

    -The two effigies are the old effigy with the crown and the new effigy without the crown.

  • What are the common specifications of all 2003 Canadian pennies?

    -All 2003 Canadian pennies weigh 2.4 grams, have a thickness of 1.6 millimeters, and a diameter of 18 millimeters.

  • What material differences exist among the 2003 Canadian pennies?

    -Some pennies were made of copper-plated zinc and are non-magnetic, while others were made of copper-plated steel and are magnetic.

  • What does the 'P' under the bust of Queen Elizabeth II on some 2003 Canadian pennies represent?

    -The 'P' indicates that the coin is a test piece used by the government to ensure the coins were accepted by various machines like vending machines.

  • What was the highest sale value of the 2003 Canadian penny with the old effigy and the highest sale value of the one with the new effigy?

    -The highest sale value of the coin with the old effigy was $150 in 2021 for a mint state 67, while the highest sale value of the coin with the new effigy was $35 in 2018 for a mint state 66.

  • What is unique about the 'Holy Grail' 2003 Canadian penny?

    -The 'Holy Grail' 2003 Canadian penny is unique because it is non-magnetic and has a 'P' under the bust of Queen Elizabeth II, which should not be present on non-magnetic coins of that year, making it a rare error coin.

  • What is the estimated value of the 'Holy Grail' 2003 Canadian penny?

    -The 'Holy Grail' 2003 Canadian penny is estimated to be worth around five thousand dollars due to its rarity.

  • Why were some 2003 Canadian pennies found in circulation despite being typically found in proof sets?

    -It is unclear, but some of these coins, including the 'Holy Grail' penny, made it into circulation, possibly due to an error in the distribution process.

  • When were Canadian pennies discontinued for circulation?

    -Canadian pennies were discontinued for circulation in 2012.

  • What is the next coin featured in the series after the 2003 Canadian penny?

    -The next coin in the series is the 2002 Tennessee state quarter from the United States.

Outlines
00:00
🤑 Introduction to the 2003 Canadian Penny Varieties

The video begins with an introduction to the five types of the 2003 Canadian penny, highlighting the changes made due to the rising cost of copper. It explains the experiments with copper-plated steel and copper-plated zinc, leading to the creation of these unique coins. The video also mentions the two different effigies of Queen Elizabeth II featured on the coins, one with and one without a crown. The common characteristics of the coins, such as weight, thickness, diameter, and material, are outlined. Additionally, the presenter notes the magnetic properties of some coins and provides a visual examination of a mint state red coin with the iconic maple leaf design.

05:03
💰 Coin Details and Value Discussion

This paragraph delves into the specifics of the coin's design, including the details on the obverse and reverse sides. It discusses the value of the coins, with the highest sale of the previous coin being a mint state 67 that sold for $150 in 2021. The presenter also covers the value of the current coin, a mint state 66 that sold for $35 in 2018. The discussion includes the unique 'P' marking on some coins, indicating test pieces for machine acceptance, and the value of these special coins. The paragraph also mentions the highest grades attainable for these coins and provides a visual inspection of the coins, noting their mint state red condition and the level of detail present.

10:05
🏆 The 'Holy Grail' of 2003 Canadian Pennies

The final part of the video script focuses on the rarest and most valuable of the 2003 Canadian pennies, known as the 'Holy Grail.' This coin is non-magnetic and features an old effigy of Queen Elizabeth II with a 'P' underneath, marking it as an error coin. The presenter explains that this coin is extremely rare, with an estimated value of $5,000 due to its unique error and rarity. The video concludes with an appreciation for the viewers' time, a teaser for the next video featuring the 2002 Tennessee state quarter, and a reminder to like, subscribe, and enjoy the coin search journey.

Mindmap
Keywords
💡Canadian Penny
The Canadian Penny is the one-cent coin of the Canadian currency, which has a rich history and various designs over the years. In the video, the focus is on the 2003 Canadian Penny, which has five distinct types due to changes in material and design.
💡Copper
Copper is a reddish-brown metal that is an important industrial metal and has been used in coinage for centuries due to its durability and aesthetic appeal. In the context of the video, copper was the traditional material for the Canadian Penny, but due to rising prices, alternatives were explored.
💡Queen Elizabeth II
Queen Elizabeth II is the reigning monarch of the United Kingdom and other Commonwealth countries, including Canada. Her effigy has been featured on Canadian coins since her ascension to the throne. The video discusses two different effigies of Queen Elizabeth II used on the 2003 Canadian Penny.
💡Effigy
An effigy is a representation or likeness of a person, often used in the context of official portraits or sculptures. In coinage, the effigy refers to the image of a person, usually a monarch or other significant figure, that is stamped on the coin. The video details the two different effigies of Queen Elizabeth II used on the 2003 Canadian Penny.
💡Copper Plated Steel
Copper plated steel is a type of composite material where a layer of copper is bonded to a steel core. This combination takes advantage of the durability and strength of steel with the appearance and anti-corrosive properties of copper. In the video, it is mentioned as one of the materials experimented with for the Canadian Penny due to the rising cost of copper.
💡Copper Plated Zinc
Copper plated zinc is a material where a layer of copper is applied to a zinc core. Zinc is a cost-effective metal often used as an alternative to more expensive metals like copper. The copper plating gives the zinc coin a similar appearance to a copper coin without the higher material costs. The video mentions that some 2003 Canadian Pennies were made from copper plated zinc.
💡Mint State
Mint State refers to a grade given to coins that are in pristine condition, as if they have just left the mint without any wear or damage. This term is used by coin collectors to describe coins with minimal to no signs of circulation. In the video, the presenter discusses the condition of the 2003 Canadian Pennies, often referring to them as 'mint state red'.
💡Kruger Gray
Kruger Gray, abbreviated as 'KG' on the Canadian Penny, refers to the fineness or purity of the silver content in a coin. However, in the context of the Canadian Penny, it is actually a misprint and should be 'K' for the designer's initial (Ken Ryan) and 'A' for the artist's last name (Alexandre), who designed the maple leaf on the reverse of the coin. This is a common misconception among collectors.
💡Error Coin
An error coin is a coin that was produced with a mistake or discrepancy from the standard design. These errors can occur during the minting process and can make certain coins more valuable to collectors due to their rarity. The video highlights a rare error coin from 2003 with a 'P' mintmark on a non-magnetic coin, which is considered highly valuable.
💡Circulation
Circulation refers to the distribution and use of coins within the economy. Coins are minted and then released into the public domain to be used for transactions. The video mentions that the Canadian Penny was discontinued for circulation in 2012, which affects the collectability and value of the 2003 coins.
💡Proof Sets
Proof sets are special editions of coins that are minted with a higher quality than regular circulating coins. They are often sold by mints to collectors and are not intended for general circulation. The video mentions that the mistakes in the 2003 Canadian Pennies were typically found in proof sets, indicating that these coins are rare and valuable.
Highlights

Introduction to the 2003 Canadian penny and its five types.

Canada's experimentation with coin materials due to rising copper prices.

Minted with two different effigies of Queen Elizabeth II: old and new.

The old effigy features a crowned Queen Elizabeth II.

The new effigy has an uncrowned Queen Elizabeth II.

Coins' specifications: 2.4 grams weight, 1.6 mm thickness, and 18 mm diameter.

Some coins are made of copper-plated zinc and are non-magnetic, while others are copper-plated steel and magnetic.

The reverse side of the coin features the iconic maple leaf and the words 'one cent', 'Canada', 'KG', and '2003'.

The obverse side of the first coin has 'Elizabeth II' and 'e or d, g Regina' with the older effigy.

The uncrowned version of the coin from 2003 is made in copper-plated zinc and is non-magnetic.

The highest sale of the first coin was a mint state 67 for $150 in 2021.

The second coin's highest sale was a mint state 66 for $35 in 2018.

Coin number three features an old effigy with a large 'P' underneath, indicating a test piece.

The highest sale of the coin with the 'P' was $30 in 2018, with the highest grade being mint state 67.

Coin number four has the new effigy with a 'P' underneath, also copper-plated and in mint state red.

The 'Holy Grail' of 2003 Canadian pennies is a non-magnetic coin with an old effigy and a 'P' underneath, valued at $5,000 due to its rarity.

The Canadian penny was discontinued in 2012 for circulation.

Mistakes were typically found in proof sets, but the 'Holy Grail' coin made it into circulation.

Transcripts

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