Copper has long been a familiar metal to coin collectors, but in recent months it has taken on a very different profile. In the latest issue of Canadian Coin News (Vol. 63, No. 24), we examine how copper has surged to record highs amid tightening global supply and soaring demand from industries that barely existed a decade ago.
The story traces how copper markets briefly entered a state of “backwardation” in January, a rare signal of acute physical scarcity that sent shockwaves through global commodities trading. While the premium quickly collapsed, analysts say the message was clear: the copper market is under structural strain, not driven by short-term speculation but by long-term supply bottlenecks and relentless demand growth.
That demand is coming from unexpected places. Artificial intelligence data centres, renewable energy systems, electric vehicles and modern defence technologies are consuming copper at unprecedented rates. With major mines sidelined by accidents and production disruptions in Indonesia, Chile and the Democratic Republic of Congo, financial institutions are now forecasting substantial copper deficits extending well into the future.
The issue also explores parallel price surges in platinum and palladium, two metals with direct relevance to Canadian collectors. Platinum and palladium prices rose sharply in 2025, boosting the intrinsic value of Royal Canadian Mint issues such as the Platinum Maple Leaf and Palladium Maple Leaf. For collectors holding these coins, the metal story has suddenly become far more than theoretical.
Beyond bullion, the article places today’s market turbulence in historical context, revisiting Canada’s long relationship with copper coinage. From the first decimal cents issued in 1858 to the final zinc-plated pennies struck in 2012, copper’s role in Canadian coinage has always reflected broader industrial and geopolitical pressures.
As copper reaches all-time highs driven by structural demand, collectors are left with a striking paradox: the humble Canadian cent, once dismissed as obsolete, now represents a tangible link to a metal more valuable and strategically important than at any point in its 154-year history. That full story – and what it may mean for collectors – is featured in the latest issue of Canadian Coin News, released on Feb. 3, 2026.