2008 Canadian 1-Cent (Penny) Value Guide
What is your 2008 Canadian penny worth? Complete CAD price guide: plated steel MS67=$52.30, copper proof PR69 DCAM=$171, sterling silver proof, Specimen SP67=$20.20, and the Double 8 variety — all values certified.
Most 2008 Canadian pennies found in change are worth 1¢ (face value). In top certified grades, plated steel business strikes reach $52.30 CAD at MS67 Red. The rare Double 8 variety commands $53.50 at MS66, and the copper proof peaks at $171.00 at PR69 Deep Cameo.
- Circulated (worn): 1¢ (face value)
- Business Strike MS64–MS65 Red (certified):$4.60–$12.90
- Business Strike MS67 Red (certified):$52.30
- Business Strike MS68 Red (condition rarity, est.):~$300–$800
- “Double 8” Variety MS66 Red:$53.50
- Copper Proof PR69 Deep Cameo:$171.00
- Sterling Silver Proof PR67 (est.):~$30.00
- Specimen SP67:$20.20
Found in change? Worth 1¢ unless it grades MS67+ or carries the Double 8 variety. Shiny or from a set? A pristine-looking 2008 penny almost certainly came from a Specimen set (steel, magnetic, lined fields) or a Proof set (non-magnetic, mirror fields) — not from a rare high-grade business strike. Is it silver? Only the 2008 Double Dollar set penny (maroon leatherette or Quebec 400th commemorative box) is sterling silver — all circulation coins are copper-plated steel. The magnet test distinguishes steel from copper or silver immediately. All values in CAD as of 2025–2026. See full value chart →
The 2008 Canadian 1-cent penny was struck during the Royal Canadian Mint’s centennial year — the RCM was established in Ottawa in 1908 — and sits just four years before the permanent withdrawal of the penny from Canadian circulation on February 4, 2013. Featuring Susanna Blunt’s fourth portrait of Queen Elizabeth II on the obverse and the timeless Kruger-Gray maple twig on the reverse, the 2008 issue came in three distinct compositions: copper-plated steel for circulation, solid copper for standard proof sets, and sterling silver for the Double Dollar set. Composition identification is the essential first step before any valuation. For the complete penny price history across all years, visit the Canadian Penny Value Guide.
Note: Production errors such as off-center strikes and clipped planchets exist for the 2008 penny but are outside the scope of this standard value guide.
2008 Canadian Penny Composition & Specifications
The 2008 Canadian penny exists in four distinct metallurgical configurations depending on whether the coin was struck for circulation or for a collector set. Because different compositions are sometimes visually similar, weight and magnetic response are the two primary diagnostic tools.
The three principal 2008 Canadian penny compositions: copper-plated steel (circulation), solid copper (standard proof), and sterling silver (Double Dollar proof). Each has a different magnetic response and weight. (Illustration — not a photo of your exact coin)
Circulation Strike — Multi-Ply Plated Steel (MPPS)
The circulation penny was produced using the Winnipeg Mint’s patented Multi-Ply Plated Steel (MPPS) technology. A low-carbon steel core (approximately 94% of total mass) is first electroplated with a thin nickel bonding layer (~1.5%) and then topped with a copper surface layer (~4.5%) to give the coin its traditional red appearance. The result weighs 2.35 grams — lighter than the old copper standard of 2.5 grams — and is strongly magnetic. Magnetism is the single fastest diagnostic test for this coin: a standard household magnet will attract it clearly and immediately.
The transition to steel also produced exceptionally sharp strikes. The hardness of the steel core required robust dies, and well-preserved 2008 circulation examples often show remarkable detail in the maple leaf veining — superior to the softer zinc coins of the late 1990s.
Standard Proof Set — Solid Copper
The penny in the 2008 Royal Canadian Mint Proof Set (black leatherette case) is struck in solid copper or bronze. Copper was chosen over steel because it allows the deeper, sharper strikes required for high-relief frosted Proof cameo contrasts. This coin weighs 2.50 grams and is non-magnetic. If found loose, it can be distinguished from the circulation coin immediately by the magnet test and confirmed by its heavier weight (2.50 g vs. 2.35 g).
Double Dollar Proof Set — Sterling Silver
The rarest 2008 penny by mintage is the sterling silver (92.5% Ag) proof included in the 2008 Double Dollar Set themed around the 400th Anniversary of Quebec City. Its production is capped by the total output of those sets — approximately 60,000 units. Though it weighs approximately the same as the copper proof (~2.50 g), its silver composition gives it a distinctly white luster and intrinsic precious metal value. The document does not provide a specific CAD melt value; melt value depends on current silver spot prices.
⚠️ Silver vs. Copper Proof — Visual Risk
A sterling silver proof penny and a copper proof penny look very similar under subdued or artificial lighting. If purchasing a loose proof example, always verify the original packaging (maroon case — silver; black case — copper). A magnet test cannot distinguish them because both are non-magnetic. When packaging is absent, a precision scale measuring density differences (silver: ~10.49 g/cm³ vs. copper: ~8.96 g/cm³) is the most reliable identification method.
Specimen Set — Copper-Plated Steel
The Specimen penny uses the same plated steel composition as the circulation coin and is therefore magnetic. It is distinguished from the business strike exclusively by its finish: lined or striated fields (fine parallel lines on the background) with semi-matte relief devices. This finish is unique to the Royal Canadian Mint and produces a characteristically satiny appearance that differs visibly from both the cartwheel luster of a business strike and the deep mirror of a proof coin.
The magnet test: a standard magnet strongly attracts the plated steel 2008 circulation coin and Specimen (both steel), while the copper proof and sterling silver proof are unaffected. This is the fastest first-step composition check. (Illustration — not a photo of your exact coin)
Composition Summary
| Variety Type | Source | Composition | Weight | Magnetic? | Mintage |
|---|---|---|---|---|---|
| Circulation (Business Strike) | Bank rolls / Circulation | Plated Steel (94% Fe, 1.5% Ni, 4.5% Cu) | 2.35 g | Yes | 787,625,000 |
| Proof — Standard | Black-case Proof Set | Solid Copper / Bronze | 2.50 g | No | ~60,000–80,000* |
| Proof — Sterling Silver | Maroon / Quebec Double Dollar Set | Sterling Silver (92.5% Ag, 7.5% Cu) | ~2.50 g | No | ~60,000 |
| Specimen | Booklet Specimen Set | Plated Steel (same as circulation) | 2.35 g | Yes | ~40,000* |
*Copper Proof and Specimen mintages are estimates based on typical collector set sales for the era. Sterling Silver mintage of ~60,000 is explicitly capped by total Double Dollar set production.
2008 Canadian Penny Value Chart by Grade & Finish
The following tables present certified (ICCS/PCGS) values in Canadian dollars as of 2025–2026. Business strike values assume the Full Red (RD) color designation. With 787+ million circulation coins struck, numismatic value for the standard business strike exists almost entirely at MS66 and above. Raw (uncertified) examples below MS66 typically trade at or near face value.
The value cliff for the 2008 Canadian penny. An MS63 Red example is worth near face value; MS65 Red reaches $12.90; MS67 Red hits $52.30. A single carbon spot or bag mark can collapse grade — and value — by several tiers. (Illustration — not a photo of your exact coin)
⚠️ Never Clean Your Coins
Cleaning a 2008 penny — even light polishing — strips the original plating luster and leaves hairlines visible under magnification. A cleaned coin is graded “Details” (damaged) by ICCS, PCGS, and NGC and loses all numismatic premium regardless of its underlying sharpness. The penalty is severe: an MS65 Red example worth $12.90 becomes nearly worthless if cleaned.
2008 Canadian Penny — Business Strike (Circulation)
Values assume Full Red (RD). Red-Brown (RB) and Brown (BN) examples command a significant discount at MS63 and above; in circulated grades all color states are effectively face value. A primary surface hazard is carbon spotting — small black spots caused by contaminants reacting with the copper plating — which can drop a potential MS67 to MS64 with a single spot.
| Type | MS60–63 | MS64 | MS65 | MS66 | MS67 | MS68+ (est.) |
|---|---|---|---|---|---|---|
| Standard Steel (RD) | Face Value | $4.60 | $12.90 | $26.10 | $52.30 | ~$300–$800 † |
| “Double 8” Variety (RD) | $2.00–$5.00 | $10.00 | $25.00 | $53.50 | $100+ ‡ | — |
MS66 Standard ($26.10), MS66 Double 8 ($53.50), and MS67 Standard ($52.30) sourced from Coins and Canada — 1-cent 2003–2012 pricing guide. †MS68 estimate based on comparable steel cent years; no confirmed 2008 MS68 auction records are documented in major catalogs. ‡MS67 Double 8 value is an estimate — sales at this grade are infrequent.
The Hanging 8 die clash variety is valued at approximately $2.00–$5.00 in uncirculated condition. It is relatively common in original bank rolls and does not command a significant certified premium at higher grades. See the Notable Variants section for full diagnostics on both the Double 8 and Hanging 8.
2008 Canadian Penny — Collector Finishes (Proof & Specimen)
| Finish | Composition | Mintage | PR67 / SP67 | PR69 Deep Cameo | Notes |
|---|---|---|---|---|---|
| Proof | Solid Copper | ~60,000–80,000* | $9.80 | $171.00 | Black leatherette case. Deep mirror fields, heavy frosted relief (Deep Cameo). |
| Proof | Sterling Silver (92.5% Ag) | ~60,000 | ~$30.00 ‡ | $200+ ‡ | Maroon / Quebec 400th case. White luster. Silver provides an intrinsic value floor. |
| Specimen | Plated Steel (magnetic) | ~40,000* | $20.20 | — | Booklet set. Lined / striated fields, semi-matte relief. Magnetic. |
Copper Proof PR67 ($9.80), Copper Proof PR69 Deep Cameo ($171.00), and Specimen SP67 ($20.20) sourced from Coins and Canada. ‡Sterling Silver Proof values are estimates based on the breakout value from the Double Dollar set; the intact set has typically traded at $60–$100 CAD. *Copper Proof and Specimen mintages are estimates based on typical collector set sales for the era.
All values in CAD represent certified market prices as of 2025–2026. For the complete penny series price history, see our Canadian Penny Value Guide.
Most Valuable 2008 Canadian Penny Varieties
The 2008 penny’s high-volume production run — over 787 million coins — inevitably led to die-related anomalies. Two varieties are recognized in numismatic literature for this year, both involving the date digits on the reverse.
The “Double 8” — Premier 2008 Variety
Double 8 variety diagnostic: the standard final digit 8 (left) shows clean, single-line edges on all curves. The Double 8 variety (right) shows a distinct secondary “shelf” or stepped edge on the south side of the bottom loop. Use a 10x–15x loupe focused on the lower curvature of the final 8.
The Double 8 is the most sought-after variety for the 2008 cent. It manifests as doubling on the final digit of the date — widely attributed to either hub doubling (Class II) or severe die deterioration doubling. The consensus leans toward a repeatable die anomaly, giving it true variety status (catalogued in the Charlton Standard Catalogue of Canadian Coins and documented in Coins and Canada pricing resources) rather than classifying it as a one-off mechanical error.
Diagnostics:
- Equipment: 10x–15x loupe minimum
- Location: Reverse side — date 2008, final digit “8”
- What to look for: A distinct shelf or secondary outline on the bottom curvature of the 8, as though the digit was stamped twice with the second impression slightly lower or offset. The doubling is typically most prominent at the bottom of the 8.
- Confirmation: Compare with a standard 2008 penny. The standard digit will have crisp, single edges on all curves. The variety will show “fuzzy” or “stepped” edges on the south side of the digit.
Value summary (certified, Full Red):
| Grade | “Double 8” Value (CAD) |
|---|---|
| MS60–MS63 | $2.00–$5.00 |
| MS64 | $10.00 |
| MS65 | $25.00 |
| MS66 | $53.50 |
| MS67 | $100+ (estimated; sales infrequent) |
MS66 value ($53.50) sourced from Coins and Canada.
Search strategy: Coin roll hunters regularly encounter 2008 pennies. Any high-grade 2008 cent should be inspected under 10x magnification for Double 8 doubling. Because the shelf can be subtle, the variety is frequently missed in unsearched collections — making it a genuine “sleeper” with real discovery potential in original rolls.
ℹ️ Hub Doubling vs. Die Deterioration Doubling
In hub doubling, the working die receives two slightly misaligned impressions from the master hub, creating a clean and repeatable secondary image. In die deterioration doubling, metal flows and erodes on a worn die, creating a faint shadow that can appear similar. The Double 8 consensus leans toward a repeatable die anomaly — meaning it is a collectible variety, not a random one-coin defect.
The “Hanging 8” — Die Clash Variety
The Hanging 8 is a die clash variety — a class of Canadian variety with famous precedents including the “Hanging 9” of 1949 and the “Hanging 0” of 1970, as documented by the Edmonton Numismatic Society’s variety research.
Mechanism: When the obverse and reverse dies strike each other without a planchet between them, each die picks up a ghost impression of the opposing design. On the 2008 Hanging 8, the outline of Queen Elizabeth’s chin or throat from the obverse die was transferred to the reverse die. The resulting clash mark appears as a faint curved line that connects the base of the final “8” in the date to the maple leaf or rim area — giving the impression that the digit is “hanging” from a thread.
Diagnostics: Under magnification, look for a faint curved line running below or from the bottom of the final 8 on the reverse, extending toward the maple leaf design or the rim.
Market value: Approximately $2.00–$5.00 in uncirculated condition. A clashed die typically strikes tens of thousands of coins before being polished or replaced, so Hanging 8 examples are relatively common in original bank rolls and carry a modest premium compared to the Double 8 variety.
2008 Canadian Penny Identification Guide
Use this checklist to confirm exactly which 2008 penny you have before consulting the value tables above.
2008 Canadian 1-cent penny: obverse (left) showing the Susanna Blunt fourth portrait — Queen Elizabeth II bare-headed, pearl jewelry, “SB” initials on bust truncation, RCM logo beneath. Reverse (right) showing the Kruger-Gray maple twig with “K.G.” initials to the right of the twig stem.
30-Second Identification Checklist
Monarch Check (Obverse): The obverse shows a bare-headed Queen Elizabeth II — no crown, no tiara — wearing a simple pearl necklace and pearl earrings. This is Susanna Blunt’s Fourth Portrait, used from 2003 through 2022. The artist’s initials SB appear on the shoulder truncation of the bust.
Reverse Check: The reverse shows a maple twig with two leaves — the design by George Kruger-Gray first used in 1937. The initials K.G. appear to the right of the twig stem. “CANADA” arcs above; “1 CENT” sits below.
Date Check: Confirm the date reads 2008. While doing so, examine the final digit “8” under a 10x loupe for the Double 8 (secondary shelf on bottom curvature) or the Hanging 8 (faint curved clash line below the digit). See the Varieties section for full diagnostics.
Edge Check: The 2008 penny has a plain (smooth) edge — no reeding.
Magnet Test (Composition Verification): Apply a household magnet to the coin.
- Strong attraction → Copper-plated steel — circulation business strike or Specimen set coin
- No attraction → Solid copper (standard Proof) or sterling silver (Double Dollar Proof)
RCM Logo Check: All genuine 2008 pennies bear the Royal Canadian Mint corporate logo — a stylized maple leaf within a circle — on the obverse beneath the Queen’s bust. This logo replaced the earlier “P” compositional mark from late 2006 onward. There are no confirmed 2008 “No Logo” varieties. If you find a coin without the logo, verify the date carefully — you may have a 2006 or earlier issue, where “No Logo” varieties are documented and valuable.
The RCM corporate logo — a maple leaf inside a circle — appears on the obverse beneath Queen Elizabeth II’s bust on all genuine 2008 Canadian pennies. It replaced the earlier “P” mark in late 2006. No “No Logo” variety has been confirmed for 2008. (Illustration — not a photo of your exact coin)
Finish Identification (Critical for Valuation)
Three finishes of the 2008 Canadian penny: Business Strike (left, cartwheel luster), Proof copper (center, deep mirror fields with frosted “Deep Cameo” devices), and Specimen (right, lined/striated satiny fields). (Illustration — not a photo of your exact coin)
| Finish | Field Appearance | Relief Appearance | Magnetic? | Source |
|---|---|---|---|---|
| Business Strike | Cartwheel luster — radiating lines from center when tilted under direct light | Same luster as fields | Yes (steel) | Bank rolls / circulation |
| Proof | Deep mirror polish — highly reflective, like a polished mirror | Heavy frost — devices appear brilliant white against the mirror field (Deep Cameo) | No (copper or silver) | Proof Set (black or maroon case) |
| Specimen | Lined / striated — fine parallel lines create a satiny, non-mirror background | Semi-matte | Yes (steel) | Booklet Specimen Set |
ℹ️ “Shiny” Does Not Mean High-Grade Business Strike
A pristine-looking 2008 penny is almost certainly a Specimen or Proof that has been removed from its original packaging. The ~40,000 Specimen set coins and ~60,000–80,000 Proof set coins produced far more visually perfect examples than the genuine high-grade business strike population. Dealers routinely discount raw “uncirculated” 2008 pennies because Specimen origin is the most probable explanation for a seemingly flawless coin.
Grading Services: ICCS vs. PCGS vs. NGC
The International Coin Certification Service (ICCS) is the Canadian standard for domestic market submissions and is widely accepted by Canadian dealers and auction houses. PCGS and NGC are US-based services whose holders command broader international recognition and often higher realized prices in cross-border sales. For the 2008 penny, the value cliff is so steep at MS67+ that professional certification is financially worthwhile only when you have strong reason to believe your coin exceeds that threshold. For the Double 8 variety, certification at MS65 and above is justified given the $25.00–$53.50+ value range.
2008 Canadian Penny Value FAQs
What is a 2008 Canadian penny worth?
Most 2008 Canadian pennies are worth 1¢ (face value). The mintage of over 787 million means circulated and low uncirculated grades (MS60–MS63 Red) trade at effectively face value. Value increases significantly at MS66 ($26.10), MS67 ($52.30), and estimated MS68+ (~$300–$800). The copper proof peaks at $171.00 at PR69 Deep Cameo. The sterling silver proof from the Double Dollar set carries an intrinsic silver premium on top of its numismatic value. All values are in CAD and apply to certified (ICCS/PCGS) examples in Full Red (RD) condition.
Is a 2008 Canadian penny rare?
As a circulation coin, the 2008 penny is extremely common — 787,625,000 were struck. However, high-grade certified examples (MS67 Red and above) are genuinely scarce because the steel-on-steel impact during the ejection and bagging process creates bag marks that are difficult to avoid. The sterling silver proof is the rarest issue, with production capped at approximately 60,000 pieces within the Double Dollar set. The Specimen set (~40,000 estimated) is also relatively scarce in absolute terms.
How do I find and identify the Double 8 variety?
Use a 10x–15x loupe and examine the final digit “8” on the reverse in the date 2008. The Double 8 shows a distinct shelf or stepped secondary line on the bottom curvature of the 8 — as if the digit was pressed twice with the second impression slightly lower. Compare to a standard 2008 penny: clean, single-edged curves confirm standard; stepped or fuzzy edges on the south side of the digit confirm the Double 8. A certified MS66 Double 8 is valued at $53.50 CAD.
Is my 2008 Canadian penny magnetic?
It depends on the specific coin. Circulation business strikes and Specimen set coins are both struck on copper-plated steel and are strongly magnetic. Copper proof coins (black-case Proof Set) and sterling silver proof coins (maroon Double Dollar Set) are non-magnetic. A standard household magnet is the fastest first step in identifying your coin’s composition. Note that a non-magnetic result means copper or silver proof — the magnet test alone cannot distinguish between those two.
Does the 2008 Canadian penny contain silver?
Only one version does: the sterling silver proof penny included in the 2008 Double Dollar Set (maroon leatherette case or Quebec 400th Anniversary commemorative box). It is composed of 92.5% silver. All 2008 circulation coins and Specimen set coins are copper-plated steel with no precious metal content. The standard Proof Set (black case) contains a solid copper penny — not silver. When in doubt, verify by original packaging: maroon case → silver; black case → copper; booklet → steel Specimen.
What is the difference between the copper proof and the sterling silver proof?
Both are non-magnetic and carry the same Proof finish (deep mirror fields with frosted devices). The key differences are: (1) Composition — solid copper vs. 92.5% silver; (2) Packaging — copper proof came in the standard black leatherette case, while the silver proof came in the maroon leatherette or Quebec 400th commemorative box; (3) Value — the silver proof has an intrinsic silver value floor plus a numismatic premium. If purchasing a loose proof penny, always request the original packaging or a density verification, as a magnet test cannot distinguish them.
What does the “Red (RD)” designation mean and why does it matter?
Red (RD) means the coin retains 95% or more of its original copper plating luster. For the 2008 penny, Red is the only collectible state at Mint State grades — all prices in this guide assume Full Red. Red-Brown (RB) (5–95% remaining red) and Brown (BN) (fully oxidized) examples command a significant discount. A major hazard for 2008 plated steel cents is carbon spotting — small black spots caused by contaminants reacting with the copper plating — which can knock a potential MS67 coin down to MS64 with a single spot.
What is the Specimen finish on the 2008 penny?
The Specimen (SP) finish is unique to the Royal Canadian Mint. Unlike the deep-mirror Proof finish or the cartwheel luster of a business strike, Specimen coins feature lined or striated fields — fine parallel lines on the background — with semi-matte raised devices. The 2008 Specimen penny came in a booklet-style set (Eider Duck or wildlife theme) and is struck on the same plated steel as circulation coins, making it magnetic. It is valued at $20.20 CAD at SP67.
Should I get my 2008 penny professionally graded?
Grading service fees typically exceed the coin’s certified value at MS60–MS65, making professional certification economically sensible only if you are highly confident your coin grades MS67 Red or higher (where values reach $52.30 and escalate sharply for MS68+). For Double 8 variety coins showing clear diagnostics under a loupe, grading is worthwhile at MS65 and above, where the variety commands $25.00–$53.50+. ICCS is the standard Canadian destination; PCGS and NGC are preferred for cross-border sales. Submit raw, uncleaned coins only.
What is the RCM logo on the 2008 penny, and does it indicate a variety?
The Royal Canadian Mint (RCM) corporate logo — a stylized maple leaf within a circle — appears on the obverse beneath the Queen’s bust on all 2008 pennies. It replaced the earlier “P” compositional mark from late 2006 onward. For 2008, the RCM logo is a standard feature on every genuine coin — it is not a variety marker. This is distinct from the 2006 situation, where “No Logo” coins are a recognized valuable variety. There are no confirmed reports of a 2008 “No Logo” penny. If a coin you are examining lacks the logo, double-check the date.
Methodology & Sources
Values in this guide reflect certified (ICCS/PCGS) market prices as of 2025–2026 for examples in Full Red (RD) condition unless otherwise noted. Primary pricing data sourced from Coins and Canada — 1-cent 2003–2012 price guide. Composition and specification data referenced from Numista: 1 Cent — Elizabeth II (4th portrait; magnetic with RCM logo) and the Royal Canadian Mint — 2008 Proof Set official page. Die variety context referenced from the Edmonton Numismatic Society — A Good Decade for Cent Varieties and the Charlton Standard Catalogue of Canadian Coins. Background denomination history referenced from Wikipedia — Penny (Canadian coin). Values marked with † or ‡ and labeled “estimated” reflect the source document’s own analytical projections based on comparable issues, not confirmed auction records for the 2008 date. Raw (uncertified) coins typically trade at a substantial discount to the certified values shown. Market values are subject to change; always verify with current dealer or auction data before transacting.
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.