The 'Newfoundland' Canadian Penny That Could Be Worth A Ton Of Money

If you've ever lived in Canada, or have relatives who have lived north of the border, there are valuable coins you might have lying around forgotten between the lining of your sofa or a jar for loose change. While this specific coin itself isn't more than an old penny, its rarity and the date of its minting make it a collector's item for those in the know. Minted before 1949, this East Coast coin from Newfoundland is recognizable for its engraving of King George VI, the great grandson of Queen Victoria, the ruling monarch of the United Kingdom until 1901.

While Canada officially became a country in 1867, after the British passed the British North America Act — the act gave Canada the right to self-governance — Newfoundland was a late joiner to the party. Newfoundlanders held referendums in 1948 over whether to join the rest of Canada or not, making the decision to become Canadians in 1949. As such, the penny in question was minted pre-Confederation, Confederation being when Canada earned its independence as a sovereign nation, but with ongoing ties to the monarchy.

Much like this rare and valuable Canadian penny known for its large size, the 1940 penny from Newfoundland could put a decent chunk of change in your pockets if you have one. While more than 85.7 million Canadian pennies were minted in 1940, the fact that Newfoundland wasn't yet a part of the nation known as Canada, adds a rarity, and therefore, extra value, to these pennies over the other Canadian coins today. As per the World Coin Price Guide, there were 300,000 1940 Newfoundland pennies minted without a mint mark. In 1941, 827,662 copies of the penny were minted, and surprisingly, those are worth significantly less than the pennies minted a year earlier.

According to Heritage Auctions, on April 7, 2017, a 1940 Newfoundland penny was sold in Chicago to some lucky collector, who picked up the pre-Confederation penny for an impressive $1,800. In 2025, with inflation, that's equal to paying $2,348 for the same penny.

It's very likely this knowledge will have you wondering how to spot rare coins that could be worth a ton of money. That's fair, but you should understand that, while the 1940 Newfoundland penny sold for $1,800 in 2017, today, you'll find a number of different prices on coin auction sites and eBay. In other words, it's very much buyer beware, particularly if you're not a professional collector.

For instance, this eBay listing displaying what appears to be a shiny, mint condition specimen is being sold for $2,250 Canadian, the equivalent of around $1,627 U.S. dollars today. While this is pretty close to the original price paid for such a coin in 2017 with inflation — if you were referring to the coin in Canadian dollars — it's a little less than the amount paid for the similar coin in Chicago in 2017. That said, the seller appears to be a coin collector that lists a number of coins from different countries, and could potentially know something about the value of the coin that other less experienced sellers on eBay would know. Regardless, whether $1,800 or $1,627 U.S. dollars, the Newfoundland penny is worth a pretty penny beyond what anyone would expect.