1927 Canadian 1-Cent (Penny) Value Guide
What is your 1927 Canadian penny worth? Complete grade-by-grade price guide for Business Strikes in Brown, Red-Brown, and Red — plus the ultra-rare Specimen strike. Includes authentication tips and market analysis.
A circulated 1927 Canadian penny is worth between $0.20–$55 USD depending on grade. In top Mint State Red condition, values climb to $2,500–$4,500 USD at MS-65 and $6,000–$11,000+ USD at MS-66. The ultra-rare Specimen strike — fewer than five confirmed examples — can realise an estimated $20,000–$40,000+ USD at major auction.
⚠️ Currency Note
The source document for this guide provides values in USD. To obtain Canadian dollar equivalents, multiply by the current CAD/USD exchange rate at time of purchase or sale. Values are not converted in this guide to avoid introducing inaccurate exchange rates.
- Found in a coin folder or collection (circulated): VG-8 through EF-40 examples trade for roughly $0.50–$25 USD and represent the accessible entry point to the series.
- Shiny or appears uncirculated: Colour designation — Red (RD), Red-Brown (RB), or Brown (BN) — is the single most important value driver in Mint State. An MS-65 BN trades around $320–$450 USD; the same coin in MS-65 RD commands $2,500–$4,500 USD. Do not assume an attractive coin is high-grade without third-party certification.
- Is it silver? No — the 1927 Canadian penny is bronze (95.5% copper, 3% tin, 1.5% zinc). It contains no silver or gold; numismatic value far exceeds any metal value.
The Canadian penny was withdrawn from circulation on February 4, 2013, but remains legal tender. All 1927 cents were struck at the Ottawa Branch of the Royal Mint; no mint marks appear on any example. See the full value chart →
The 1927 Canadian one-cent coin is a "semi-key" date in the George V Small Cent series (1920–1936), struck with a mintage of 3,553,928 at the Ottawa Branch of the Royal Mint during Canada's Diamond Jubilee year of Confederation (1867–1927). Its production figure sits above the scarce key dates of 1922–1925 yet well below the common issues of 1928–1929, placing it in a collector's sweet spot: affordable in circulated grades, genuinely scarce in high-grade Mint State, and extraordinarily rare as a Specimen strike. For context on values across the full George V and later series, see our Canadian Penny Value Guide.
1927 Canadian Penny Composition & Metal Specifications
The 1927 cent is struck in a bronze alloy mandated under the Coinage Act specifications established in 1920. Each of its three constituent metals plays a specific metallurgical role:
- Copper (95.5%): Provides the base volume and the characteristic fiery orange-red luster fresh from the press. Copper is highly reactive to sulfur and oxygen, which is why the original red surface converts to a brown patina over time — the foundation of the Red/Red-Brown/Brown valuation system.
- Tin (3.0%): Increases alloy hardness and improves metal flow into the deepest die recesses during striking, such as the King's ear and the maple leaf veins.
- Zinc (1.5%): Acts as a deoxidizer during melting and adds tensile strength to the finished coin.
Magnetic Properties
Because the 1927 cent is solid bronze — a copper-based alloy — it is non-magnetic. A magnet held to the coin will produce no attraction. This is a straightforward authentication diagnostic: any 1927 Canadian cent that clings to a magnet is not bronze and warrants immediate expert examination.
Melt Value
The source document does not provide a calculated melt value for the 1927 cent. Given that the coin is primarily copper (a base metal), any intrinsic metal value is negligible relative to its numismatic value — even in circulated grades, collector demand drives pricing above raw metal content.
1927 Canadian Penny Value Chart by Grade & Colour
All values below are drawn directly from the source document and are expressed in USD. Apply the current CAD/USD exchange rate to arrive at Canadian dollar figures. Values reflect the February 2026 market as documented by NGC, Heritage Auctions, GreatCollections, and dealer data cited in the methodology.
⚠️ Never Clean Your Coins
Cleaning strips original luster and leaves microscopic hairlines visible under magnification. A cleaned 1927 cent receives a "Details — Cleaned" designation from graders, eliminating all numismatic premium regardless of underlying detail. Even the finest 1927 Red coin becomes worth near face value if cleaned.
1927 Canadian Penny — Business Strike, Circulated (G-4 through AU-50)
The circulated market for 1927 cents is stable, with demand concentrated in the VF-20 to EF-40 range where visual appeal and price efficiency converge. Eye appeal — surface colour, absence of verdigris, and overall originality — creates significant spreads within each grade tier.
| Grade | Description | Value (USD) | Market Trend |
|---|---|---|---|
| G-4 | Heavily worn; portrait a silhouette; date legible; rim intact | $0.20–$0.40 | Flat |
| VG-8 | Crown band visible; lettering distinct; portrait outlines clear | $0.50–$2.50 | Stable |
| F-12 | ~50% of leaf detail visible; King's beard shows separation | $2.00–$6.50 | Rising slightly |
| VF-20 | Eyebrow distinct from forehead; crown jewels visible; leaf veins clear | $3.50–$12.00 | Strong demand |
| EF-40 | Only highest points (eyebrow, mustache tip, leaf tips) show grey wear; traces of luster near letters | $8.00–$25.00 | Volatile |
| AU-50 | Looks new at arm's length; friction on cheek and leaf centres under loupe; ≥50% luster remains | $25.00–$55.00 | Increasing |
Note: Within each grade, a chocolate-brown example with smooth, original surfaces is worth substantially more than a corroded or scratched example of the same technical grade. VF-20 is the recommended target for date-set collectors seeking the best balance of detail and cost.
1927 Canadian Penny — Business Strike, Mint State (MS-60 through MS-66)
This is where the market bifurcates dramatically along colour lines. The three chromatic designations — Brown (BN), Red-Brown (RB), and Red (RD) — reflect the degree to which original mint luster survives on the coin's surface. Red (RD) requires that 95% or more of the original fiery orange-red surface be intact. Because copper reacts readily with environmental moisture and sulfur, a coin preserving full Red colour after nearly 100 years has almost certainly been stored in a controlled environment since it left the mint — making it a genuine condition rarity.
Third-party certification (ICCS, PCGS, or NGC) is mandatory for any uncirculated 1927 cent. Artificial reddening — achieved by chemical dipping of a Brown coin — is a documented fraud for this issue. A genuine MS-65 Red exhibits "cartwheel" luster (a rotating spoke of reflected light) with flow lines in the fields. A doctored coin will show a flat, unnatural, or purple-ish hue and an etched surface texture under magnification.
| Grade | Brown (BN) | Red-Brown (RB) | Red (RD) |
|---|---|---|---|
| MS-60 | $65–$90 | $75–$120 | $150–$200 |
| MS-62 | $85–$110 | $120–$180 | $250–$350 |
| MS-63 | $110–$140 | $190–$275 | $400–$600 |
| MS-64 | $220–$300 | $350–$550 | $900–$1,400 |
| MS-65 | $320–$450 | $850–$1,200 | $2,500–$4,500 |
| MS-66 | Rare — no standard price | Very Rare — no standard price | $6,000–$11,000+ |
All values in USD. MS-66 Brown and Red-Brown are classified as rare and very rare respectively; no standard market price is available for those cells. The confirmed high-water mark for a Business Strike is the PCGS MS-65 RD from the Stewart Blay Collection, which realised $11,250 USD at GreatCollections.
ℹ️ The "Red" Premium Explained
At MS-65, a Brown example is worth roughly $320–$450 USD while a Red example commands $2,500–$4,500 USD — an approximately 700–900% premium attributable solely to colour preservation. This exponential jump reflects the extreme condition rarity of a 1927 cent that has resisted a century of chemical reaction. The implication for collectors: a raw (uncertified) coin claimed to be "Red" is a significant authentication risk and should not be purchased without a PCGS, NGC, or ICCS slab.
For NGC's complete price guide covering all years in the KM-28 series (1920–1936), see the NGC Canada Cent KM-28 Price Guide. For values of our complete denomination, see the Canadian Penny Value Guide.
Most Valuable 1927 Canadian Penny Variety: The Specimen Strike
The 1927 Canadian cent does not carry documented die varieties (such as bead varieties, large/small date differences, or doubled dies) that affect Business Strike examples. Value for standard coins is driven entirely by grade and colour designation. However, one extraordinary category stands apart: the Specimen Strike.
The 1927 Specimen Strike — Trophy-Level Rarity
A Specimen (SP) coin is not a Business Strike that happens to look pristine — it is a fundamentally different manufacturing intent executed through a separate production process:
- Die preparation: Working dies were polished to remove all flow lines, producing a mirror-bright field surface.
- Planchet selection: Individual planchets were chosen for freedom from defects and polished before striking.
- Striking: Coins were struck twice at slow press speed to ensure a razor-sharp impression throughout the finest details.
- Handling: Each example was handled individually with gloved hands to preserve the surface.
The result is a coin with squared-off "wire edge" rims, mirrored fields, and frosted (cameo) devices that no Business Strike can replicate — even at MS-66 or MS-67.
Census and Provenance
The rarity of the 1927 Specimen is not rhetorical: ICCS and PCGS combined have certified fewer than five examples in total. Most known examples trace to legendary collections: John Jay Pittman, Belzberg, Norweb, and Stewart Blay. The Stewart Blay example — graded PCGS SP-66 Red — is considered among the finest known, and its provenance adds material value above the coin's intrinsic grade.
The 1927 Specimen occasionally appears as part of a complete 1927 Specimen Set (1¢ through 25¢). Such sets have been estimated in the $85,000+ USD range when complete.
Estimated Market Value
| Finish | Grade Range | Estimated Value (USD) | Notes |
|---|---|---|---|
| Specimen (SP) | SP-65 or higher | $20,000–$40,000+ | Estimate only — based on projected auction realisation at Heritage or GreatCollections. Fewer than 5 certified. Provenance from named collections adds premium. |
Because Specimens trade so infrequently, these figures are estimates rather than confirmed market prices. Collectors pursuing a 1927 Specimen should monitor Heritage Auctions, Stack's Bowers, and GreatCollections for appearance. The announcement of the Stewart Blay Collection sale at GreatCollections is the most recent high-profile event involving 1927 Specimen-quality material.
ℹ️ Registry Set Demand
Over the past decade, high-grade George V cents (MS-65 RD and above) have outperformed many traditional investment assets, driven by "Registry Set" competition — collectors competing to own the finest certified set of a given series. This has pushed prices for MS-65 and MS-66 Red coins to record levels, while low-grade (G–VG) examples have barely kept pace with inflation due to adequate supply meeting casual collector demand.
1927 Canadian Penny Identification Guide
Use this 30-second checklist to confirm you have a genuine 1927 Canadian cent and to determine which category — circulated, Mint State, or Specimen — best describes your coin.
30-Second Identification Checklist
- Monarch Check — Obverse: The portrait should show King George V facing left, wearing the Imperial State Crown and Robes of State. The design is by Australian sculptor Sir Edgar Bertram MacKennal; his artist's initials "B.M." appear in small relief on the truncation (bottom edge) of the bust. The legend reads GEORGIVS V DEI GRA: REX ET IND: IMP:
- Reverse Check: The reverse shows two maple leaves on a single twig, designed by Fred Lewis and introduced in 1920. "ONE CENT" is centred, "CANADA" arcs above, and the date appears below. The leaves display serrated edges and vein networks — these serve as the primary wear indicators in circulated grading.
- Date Check: Confirm the numerals read "1927" with a characteristic straight, sans-serif "7." See the counterfeit diagnostic below for altered date concerns.
- Edge Check: The edge is plain (smooth). Any reeding or lettering indicates a different coin.
- Magnet Test — Composition Verification: Apply a magnet to the coin. A genuine 1927 Canadian cent is bronze (95.5% copper, 3% tin, 1.5% zinc) and is non-magnetic. The coin should not be attracted to the magnet at all. Any magnetic response is a red flag requiring expert examination.
- Mint Mark Check: There is no mint mark on the 1927 Canadian cent. All were struck at the Ottawa Branch of the Royal Mint. The absence of a mint mark is correct and expected. Any mark resembling a "D," "S," or other letter near the date is either a US Lincoln cent or an altered coin.
- Finish Identification — THE Critical Step:
- Business Strike: Exhibits "cartwheel" luster — a rotating spoke of reflected light visible when the coin is tilted under a lamp. Fields may show bag marks from contact with other coins at the mint.
- Specimen (SP): Mirror-bright fields with frosted (cameo) devices, squared-off "wire edge" rims, and razor-sharp lettering. Vastly superior surface quality to any Business Strike. If your coin shows these characteristics, it requires immediate expert authentication — fewer than five 1927 Specimens are known.
Altered Date — Counterfeit Detection
The most common fraud targeting the 1927 cent is altering a more common 1929 cent by tooling the second "9" into a "7."
- Diagnostic: Examine the lower portion of the "7." An authentic 1927 cent has a clean, sharp straight-7 with no disturbance to the surrounding field. An altered 1929 will often show tool marks, scratches, or depressions in the field where the curved tail of the "9" was removed. The digit itself may appear flat or misshapen compared to the adjacent numerals.
- Comparison: Compare the size, weight, and serif style of the "7" against the "1" and "9" in the same date. On an altered coin, the tooled digit often appears slightly recessed or off-axis.
- Recommendation: For any coin priced above $50 USD as a 1927, insist on ICCS, PCGS, or NGC certification before purchase.
⚠️ Artificial Colour Warning
Artificial reddening — chemically dipping a Brown coin in acid to simulate Red luster — is a documented practice for high-value Canadian copper cents. A genuine Red coin shows flowing cartwheel luster with natural flow lines in the fields. A doctored coin has a flat, even, or purple-tinged hue and an etched or "orange peel" texture visible under 5–10× magnification. Never purchase a raw (uncertified) coin claimed to be "Red" at a Red premium.
Grading Services for the 1927 Cent
ICCS (International Coin Certification Service) is the Canadian standard and is known for strict application of the "Red" colour designation — an ICCS MS-65 RD is universally respected in the domestic market. PCGS (Professional Coin Grading Service) is the global benchmark and PCGS-certified coins often command premiums in registry set competition. NGC (Numismatic Guaranty Company) is respected internationally, though slightly less dominant in the Canadian copper segment than PCGS. For coins valued above $100 USD, third-party grading is essential.
1927 Canadian Penny Value FAQs
What is a 1927 Canadian penny worth?
Value depends primarily on grade and colour. Circulated examples range from roughly $0.20 USD (G-4) to $55 USD (AU-50). Mint State coins in Brown start around $65 USD (MS-60) and climb to $320–$450 USD at MS-65. In full Red (RD), an MS-65 commands $2,500–$4,500 USD, and MS-66 Red can reach $6,000–$11,000+ USD. The ultra-rare Specimen strike is estimated at $20,000–$40,000+ USD. Note: these are USD figures from the source document — apply the current CAD/USD exchange rate for Canadian dollar values.
Is the 1927 Canadian penny rare?
It depends on condition. The 1927 cent is classified as a "semi-key" date in the George V Small Cent series (1920–1936), with a mintage of 3,553,928 — higher than the key dates of 1922 (1,243,635), 1923 (1,019,002), and 1925 (1,000,622), but far below the common 1928 (9,144,860). Circulated examples are scarce but findable. High-grade Mint State Red examples are genuine condition rarities, as copper's chemical reactivity means most surviving coins have toned to Brown or Red-Brown over the past century. The Specimen strike — fewer than five certified — is one of the rarest Canadian coins in any denomination.
What makes a 1927 Canadian penny valuable?
Three factors drive value in order of importance: (1) Grade — the higher the Sheldon grade, the more valuable the coin; (2) Colour designation — Red (RD) commands a dramatic premium over Red-Brown (RB) or Brown (BN) in uncirculated grades, with the MS-65 RD/BN spread exceeding 700%; (3) Finish — the Specimen strike is categorically more valuable than the finest Business Strike. Eye appeal within a given grade (surface originality, absence of corrosion or cleaning) also creates meaningful price variation.
Is my 1927 Canadian penny made of silver?
No. The 1927 Canadian one-cent coin is bronze: 95.5% copper, 3.0% tin, and 1.5% zinc. It contains no silver, gold, or other precious metals. A magnet test can help with basic authentication — bronze is non-magnetic — but a magnet test cannot confirm silver content (silver is also non-magnetic). If someone is claiming your 1927 cent has silver value, that claim is incorrect.
Should I get my 1927 Canadian penny graded?
It depends on value. For coins that appear circulated (G through AU), grading cost typically exceeds the coin's numismatic value — buying raw from a reputable dealer is the better strategy at that tier. For any coin that appears Mint State, certification is essential: artificial reddening and altered dates are documented problems for this issue, and the colour designation (RD/RB/BN) cannot be reliably assessed without professional examination. At $100 USD and above, always buy certified. ICCS is the Canadian standard; PCGS is preferred for registry set participation.
What do Brown (BN), Red-Brown (RB), and Red (RD) mean for a 1927 penny?
These designations describe how much of the original copper surface remains chemically intact. Red (RD): 95%+ of the original fiery orange-red mint luster survives — the highest tier, commanding exponential premiums. Red-Brown (RB): 5–95% of red luster survives, with the remainder having toned to brown — a middle tier offering strong eye appeal at lower cost than full Red. Brown (BN): The copper has fully oxidised to a chocolate or darker brown patina — the most common state for Mint State examples and the lowest uncirculated tier by value. All three can be legitimate and original; the preference for Red is a market convention reflecting condition rarity, not superior coin quality.
How can I tell if my 1927 Canadian penny has been altered or cleaned?
For altered dates, examine the lower portion of the "7" under magnification: tool marks, field disturbances, or a misshapen digit indicate a fraudulent 1929-to-1927 conversion. For artificial reddening (a doctored Brown coin made to look Red), look for a flat, even, or purple-tinged surface with an etched texture under 5–10× magnification rather than the flowing cartwheel luster of a genuine Red coin. For cleaning, look for fine parallel scratches ("hairlines") across the fields under a raking light — cleaned coins lose their original luster pattern and receive a "Details — Cleaned" designation from graders, which destroys numismatic value.
What is a Specimen strike, and how rare is the 1927 Specimen?
A Specimen (SP) coin is struck with polished dies at slow press speed, usually twice, on individually selected and polished planchets — producing mirrored fields, frosted (cameo) devices, and squared-off wire-edge rims that no Business Strike can replicate. The 1927 Specimen is among the most extreme rarities in Canadian numismatics: ICCS and PCGS combined have certified fewer than five examples. Most known specimens trace to renowned collections (Pittman, Belzberg, Norweb, Stewart Blay). At auction, a 1927 Specimen in SP-65 or above is estimated to realise $20,000–$40,000+ USD. A complete 1927 Specimen set has been estimated at $85,000+ USD.
Why is the 1927 Canadian penny called a "semi-key" date?
"Semi-key" describes a coin that is significantly scarcer than common dates in its series but not as rare as true "key dates." In the George V Small Cent series, the keys are 1923 (1,019,002 struck — the rarest), 1922 (1,243,635), and 1925 (1,000,622). The 1927's mintage of 3,553,928 makes it more accessible than those, yet its survival rate in any collectible condition is estimated below 2% of original mintage due to decades of heavy circulation and copper losses. This combination — moderate absolute mintage, low survival rate, genuine condition rarity in MS — defines the "semi-key" classification.
Is the 1927 Canadian penny still legal tender?
Yes. The Royal Canadian Mint ceased distributing one-cent coins on February 4, 2013, and retailers are no longer required to accept them in cash transactions. However, the 1927 cent — like all Canadian pennies — remains legal tender under the Currency Act. Its numismatic value in any collectible grade far exceeds its one-cent face value.
Methodology & Sources
Values in this guide are drawn from the following sources as accessed in February 2026: the NGC Canada Cent KM-28 Price Guide; PCGS educational articles including The Rarest Canada Small Cents & What They're Worth and The Scarce King George V Canadian Cents; GreatCollections auction records (Stewart Blay Collection); Heritage Auctions archive; the Numista catalogue entry for the George V cent (KM-28); the Royal Canadian Mint official coin history; and the Saskatoon Coin Club George V Photo Grading Guide. The Charlton Standard Catalogue of Canadian Coins and ICCS population data informed background context. All prices sourced from the reference document are expressed in USD; no independent currency conversion has been applied. Market values are as of February 2026 and are subject to change. This guide covers standard Business Strike and Specimen values only — error coins are outside its scope.
A note on images: To help illustrate coin diagnostics and rare varieties — especially complex errors that are difficult to describe in text alone — this guide uses AI-generated images. All written values, diagnostics, and variety attributions have been manually reviewed against the cited sources above. While our editorial team works to ensure every image is accurate and helpful, AI-generated illustrations may occasionally misrepresent fine details. If you spot any discrepancy between an image and its written description, please contact us or leave a comment below — we review all feedback and correct errors promptly. Numismatic knowledge is a community effort, and your input helps us build a more accurate resource for everyone.