The value of Canadian pennies depends on factors such as mintage, wear, numismatic value, supply and demand, as well as on the amount of copper in the penny itself. Pennies high in copper content can be sold at higher prices and milled for the valuable metal.
Pennies manufactured between 1876 and 1919 are valued for their numismatic value, or age and rarity. Pennies minted between 1953 and 1979 have the highest copper content at 98 percent and are therefore more valuable than those from earlier years. Pennies with King George VI on them also fetch a higher value. Pennies made after 1996 are much less valuable because they are made with zinc instead of copper, while pennies made after 2000 are made with steel.