1958 Canadian 1-Cent (Penny) Value Guide

The 1958 Canadian penny belongs to the Elizabeth II Young Head series (1953–1964), struck at the Royal Canadian Mint in Ottawa. Mary Gillick's laureated portrait of the young Queen pairs with G.E. Kruger-Gray's enduring Maple Leaf Twig reverse on this classic mid-century bronze issue. A circulation mintage of 59,385,679 makes circulated examples abundant, but the Proof-Like mintage of just 18,259 sets is genuinely scarce — and finding a full-Red, carbon-free specimen at the top of the Mint State scale has become a genuine collector's challenge after nearly 70 years. For complete denomination context across all years, see our Canadian Penny Value Guide.

Note: Errors such as off-center strikes, clips, and wrong-planchet coins exist for 1958 but are outside the scope of this standard value guide, which covers non-error circulation strikes and catalogue-recognized die varieties only.

1958 Canadian Penny Composition & Melt Value

Bronze Alloy Breakdown

The 1958 cent is struck from a bronze alloy composed of 98% copper, 0.5% tin, and 1.5% zinc. The dominant copper content gives the coin its characteristic warm orange-red color at mint state and its well-known susceptibility to atmospheric toning over time. The small additions of tin and zinc improve metal flow during striking and add durability in circulation, but they do not materially alter the coin's essentially copper chemistry or its reactive character.

Magnetic Properties and Authentication

The 1958 cent is entirely non-magnetic. A strong magnet held to the coin will produce no attraction whatsoever. This is the fastest authentication check available at the coin table:

• No attraction: Correct — genuine 1958 bronze cent.
• Strong attraction: The coin is a modern copper-plated steel counterfeit or, in an extremely rare case, a wrong-planchet error struck on a modern steel blank. A genuine 1958 cent also weighs exactly 3.24 grams; modern steel blanks used in later coinage weigh approximately 2.25 grams.

Melt Value

The 1958 cent contains no silver or gold. Its intrinsic value is derived entirely from approximately 3.17 grams of copper. At current industrial copper prices, the raw metal value of a single 1958 cent is approximately 2.5 to 3.5 cents CAD — marginally above its 1-cent face value. Despite technically exceeding face value, this melt figure is negligible in a numismatic context; even a heavily circulated example commands a small collector premium above scrap. Melting Canadian coins of the realm is also prohibited under the Currency Act of Canada.

Color Designation: The Primary Value Driver

Because copper oxidizes progressively over decades, uncirculated 1958 cents are graded not only by surface quality but also by color preservation. This designation has a direct and dramatic effect on market value:

• Red (RD): Retains 95% or more of original bright copper mint bloom — the coin looks like a brand-new copper pipe. Commands the highest premium.
• Red-Brown (RB): Partial toning — retains significant flashes of red lustre alongside browning areas. Mid-range value.
• Brown (BN): Fully oxidized to chocolate or dark brown. Lowest value in uncirculated grades. Unless the coin carries a recognized die variety premium, a Brown MS example may trade near face value.

All Business Strike prices in the value tables below assume Red (RD) designation for MS63 and above. Brown (BN) coins in MS grades typically trade at a 50–70% discount to the prices listed.

Red (RD), Red-Brown (RB), and Brown (BN) color grades for the 1958 Canadian bronze penny — color preservation is the single largest value driver for Mint State examples. (Illustration — not a photo of your exact coin)

1958 Canadian Penny Value Chart by Grade & Finish

Values reflect typical prices for problem-free coins (no cleaning, corrosion, or deep scratches). All prices in CAD as of February 2026. Business Strike prices for MS63 and above assume Full Red (RD) designation; Brown (BN) coins trade at a 50–70% discount to those figures.

Grade comparison for the 1958 Canadian penny — from heavily circulated to Gem MS65 Red. The step from MS64 to MS65 represents a significant premium for problem-free Red examples. (Illustration — not a photo of your exact coin)

1958 Canadian Penny — Business Strike (Circulation)

The market for circulated 1958 cents (G4 to AU50) is essentially flat — these coins are readily available in dealer junk bins and trade at small fractions of a dollar. The real action begins at MS63, where the price curve accelerates sharply. The MS64 threshold represents a "Choice" quality standard, and MS65 Red marks the Gem grade that serious intermediate collectors target. Above MS66, coins enter trophy-level territory where the price is driven by the near-impossibility of preserving 98% copper in pristine condition for seven decades.

1958 Canadian Penny — Proof-Like (PL)

The 1958 Proof-Like issue was distributed in white cardboard holders, not the sealed pliofilm packaging adopted in the 1960s. Cardboard often contained sulfur compounds that caused widespread toning and spotting on enclosed coins over the decades. With only 18,259 sets produced, the 1958 PL is a key date for series collectors — but the cardboard packaging issue means that finding a blast-white, Full Red example is far more difficult than the raw mintage number suggests. Values below reflect problem-free, original-surface coins graded by ICCS or equivalent.

Values in CAD represent typical market prices as of February 2026. For the complete denomination price guide, see our Canadian Penny Value Guide.

Most Valuable 1958 Canadian Penny Varieties

The 1958 Canadian penny features two categories of recognized collectible variants: condition rarities (standard coins in extraordinary preservation) and die varieties (coins with distinct catalogued tooling events). Neither category includes random mint errors, which are outside this guide's scope.

Trophy-Level Condition Rarities

These represent the apex of what a 1958 penny can be worth — not because the date itself is rare, but because achieving this condition after nearly 70 years of reactive bronze chemistry is statistically improbable. Do not confuse these trophy values with the value of a typical coin found in a jar.

The exponential price curve is unmistakable: a $25 MS65 becomes a $140+ MS66 and then a $9,000 MS67. At the highest level, collectors are paying for the near-impossibility of the condition — not the rarity of the date.

Findable Die Varieties

These varieties are catalogued by Coins and Canada and referenced in the Charlton Standard Catalogue of Canadian Coins. They can be found in original rolls, dealer inventories, and circulated hoards using only a loupe.

1. The Hanging 8 (Die Clash Variety)

The most famous and liquid variety of the 1958 cent. A die clash occurs when the obverse and reverse dies strike each other without a coin blank between them, transferring part of one die's design onto the opposing die face.

• Mechanism: The outline of Queen Elizabeth's chin and throat from the obverse die was impressed into the reverse die during a clash event.
• Diagnostic: On the reverse, examine the "8" in the date "1958". Look for a faint curved line descending from the bottom loop of the "8" toward the maple leaf twig above it — this hanging arc is the clashed impression of the Queen's chin. Best seen under 5×–10× magnification in raking (angled) light.
• Market appeal: Highly popular as an affordable entry point into variety collecting; commands a 3×–4× premium over a standard coin in the same grade.

The "Hanging 8" diagnostic on the 1958 Canadian penny reverse: a faint curved arc — the die-clashed impression of the Queen's chin — descends from the bottom loop of the "8" toward the maple leaf twig. Examine under 5×–10× magnification in raking light. (Illustration — not a photo of your exact coin)

2. Double 8 Variety

Distinct doubling is visible on the "8" digit of the date. True die doubling appears as a crisp secondary impression at the same height as the primary digit. Distinguish it carefully from machine doubling, which produces a flat, shelf-like displacement and adds no collectible value.

3. Double 58 Variety

Doubling is visible on both the "5" and the "8" digits of the date. Requires careful examination under magnification with good raking light to distinguish from die deterioration.

Variety Premium Summary

Variety values assume problem-free Business Strike coins with Red or Red-Brown surfaces. For roll hunters, the Hanging 8 is the primary target — it is visually distinctive, historically interesting, and well-supported by dealer demand.

1958 Canadian Penny Identification Guide

Use this 30-second checklist to confirm exactly what you have before consulting the value tables. Each step narrows the coin's identity and its applicable price tier.

1958 Canadian penny obverse (left) showing Mary Gillick's Young Head laureated portrait of Queen Elizabeth II, and reverse (right) showing G.E. Kruger-Gray's Maple Leaf Twig design with the 1958 date.

Step 1 — Confirm the Portrait

The obverse must show the Young Head (First Portrait) of Queen Elizabeth II, designed by Mary Gillick. She wears a laurel wreath in her hair — not a tiara. The tiara portrait (Arnold Machin's Second Portrait) appears only from 1965 onward. The legend reads ELIZABETH II D. G. REGINA around the rim. If you see a tiara, you have a coin from a different year series.

Step 2 — Confirm the Reverse

The reverse must show the Maple Leaf Twig design — two maple leaves on a single branch, designed by G.E. Kruger-Gray. The denomination CANADA 1 CENT appears around the border and the date 1958 should be clearly readable.

Step 3 — Check the Date and Variety

While confirming the 1958 date, spend 30 seconds looking for the Hanging 8 die clash variety: under a loupe at 5×–10× in raking light, look for a faint curved line descending from the bottom loop of the "8" toward the maple leaf twig. Also examine both the "5" and "8" for any signs of crisp doubling (Double 8 or Double 58 varieties). If you find the Hanging 8, your coin commands a 3×–4× premium over standard examples in the same grade — see the variety tables above.

Step 4 — Magnet Test (Composition Verification)

Magnet test for the 1958 Canadian penny: the bronze alloy (98% copper) is non-magnetic and will not be attracted to a strong magnet. Any attraction signals a modern plated-steel coin, not a genuine 1958 bronze cent.

Hold a strong magnet close to the coin:

• No attraction: Correct — the 1958 cent is bronze (98% copper) and entirely non-magnetic.
• Strong attraction: The coin is either a modern copper-plated steel counterfeit or an extraordinarily rare wrong-planchet error. Genuine 1958 cents weigh exactly 3.24 grams on a precise scale; modern steel planchets used in later coinage weigh approximately 2.25 grams.

Step 5 — Confirm the Edge

The 1958 penny has a plain (smooth) edge — no reeding, no lettering. This is standard for the denomination. No mint marks appear on 1958 Canadian cents; all were struck at Ottawa with no distinguishing mark on either face.

Step 6 — Determine Finish (Business Strike vs. Proof-Like)

Business Strike vs. Proof-Like (PL) finish comparison for a 1958 Canadian penny. Business Strikes show rotating "cartwheel" lustre; PL coins show flat mirror-like fields in which a reflection is visible. (Illustration — not a photo of your exact coin)

This step directly determines which value table applies:

• Business Strike: Fields display cartwheel lustre — spokes of light that rotate around the coin as you tilt it. Small bag marks (contact dings) from bulk handling are normal and expected.
• Proof-Like (PL): The flat background fields act like a mirror — you can see a distorted reflection of your finger or a pen tip. Devices (portrait, leaves) often appear frosted or matte white, especially on earlier strikes from a fresh die. These coins originally came in white cardboard Mint Set holders. A shiny 1958 penny found loose in a collection was almost certainly broken from a PL set.

Step 7 — Assess Color Grade

For Mint State coins, color drives a significant portion of value. Refer to the color comparison illustration in the Composition section for visual guidance:

• Red (RD): 95%+ original copper bloom — bright orange-red. Highest value.
• Red-Brown (RB): Partial toning — mixed red and brown areas remain.
• Brown (BN): Fully oxidized to chocolate or dark brown — 50–70% discount from Red prices in MS grades.

1958 Canadian Penny Value FAQs

Methodology & Sources

Values in this guide reflect typical market prices as of February 2026, compiled from the following primary references:

• Charlton Standard Catalogue of Canadian Coins: Primary reference for variety listing confirmation and series identification.
• Coins and Canada — 1 Cent 1953–1964: Primary source for retail pricing trends, variety premium data, mintage figures, and die variety diagnostics.
• NGC Price Guide — Canada Cent KM 49 (1953–1964): Cross-reference for Uncirculated and Proof-Like valuations.
• Royal Canadian Mint — 1-Cent History: Historical specifications and design attribution.
• Numista — Canada 1 Cent, Elizabeth II 1st Portrait: Numismatic reference for specifications and series context.
• Heritage Auctions: Auction archive analyzed for the MS67+ Red realized price record (2019).
• Geoffrey Bell Auctions: Canadian auction records cross-referenced for PL set and variety valuations.
• PCGS / ICCS: Population data cross-referenced for trophy-level grade analysis and high-end market context.

All values are in Canadian Dollars (CAD). Market prices fluctuate; consult current dealer listings and auction archives for the most recent data. This guide covers standard and recognized die variety issues only — mint error coins are outside its scope.