The Canadian 1923 Small Cent was minted during a time of economic recovery after World War I. Under the leadership of Prime Minister William Lyon Mackenzie King, Canada was moving toward greater national stability. The 1923 Small Cent, featuring King George V’s portrait, marked a continued effort to modernize Canadian currency and ensure that the smaller, more practical cent would be used in the growing urban economy.
Economically, Canada was shifting from a wartime economy to peacetime production, with industrialization and agriculture driving growth. The 1923 Small Cent, with its bronze composition and maple wreath reverse, remained central in everyday commerce. Socially, the 1923 Small Cent reflected Canada’s evolving financial landscape as it adjusted to post-war life, supporting the daily transactions of a country on the path to modernization.