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Canadian Coins offer a rich insight into the history of both the British Royal Mint and the Canadian Royal Mint. In this article, I will walk you through the thirteen most valuable Canadian coins worth money. The list features some examples of your run-of-the-mill varieties and some of the rarest Canadian coins.
13. 1996 German Planchet Canadian 2-Dollar Coin
Auction Record: $332 (2018)
12. 1987 Loon Canadian Dollar
Auction Record: $426 (2012)
11. 1922 Nickel 5-Cent Coin
Auction Record: $1,500 (2019)
10. The 1948 King George VI Dollar
Auction Record: $1,968 (2022)
9. 1858 20 Cent Coin
Auction Record: $2,160 (2020)
8. 1858 Silver Five Cent Coin
Auction Record: $2,400 (2019)
7. 1965 Queen Elizabeth II Large Beads 5 Cent
Auction Record: $4,994 (2014)
6. 1889 Queen Victoria Quarter
Auction Record: $17,800 (Grade MS64)
5. 1969 Large Date Ten Cent
Estimated Value: $25,000 (Uncirculated)
4. 1906 25C Small Rev Crown
Auction Record: $38,400 (2019)
3. 1921 Silver 5-Cent Coin
Auction Record: $50,400 (2019)
2. 1936 Dot 1 Cent Coin
Auction Record: $402,500 (2010)
1. 1911 Canadian Silver Dollar
Auction Record: $552,000 (Last Auctioned)
Keep reading to learn about each coin's design, intricate history, and the reason why they have become so valuable.
What makes a rare coin valuable?
To begin with, different factors come into play when determining the value of a coin. We can say that the scarcity of a specific Canadian coin equals its rarity. Coin collectors and numismatists will be willing to pay well over the coin's face value if it means that they are adding a rare variety to their collection.
Nevertheless, other factors can also affect how much a coin is worth. Such can be historical significance, the release year, the coin's condition, if they have gold or silver content, and especially mint errors, such as doubled dies or double strikes. There's usually only a handful left of error coins in circulation.
When collecting coins, you should remember that they might have some appreciation potential, especially if they are gold or silver coins. Still, their value will mainly depend on their collectible appeal.
Most Valuable Canadian Coins
The list below contains 13 of the most valuable Canadian coins to ever circulate in the country. It was curated after thorough research of different price guides, especially those from PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation).
Note that prices are in USD.
1996 German Planchet Canadian 2-Dollar Coin
Canada introduced its 2-dollar coin in 1996. It was nicknamed the toonie and was minted using a procedure similar to that of the loonie.
Notably, the Royal Canadian Mint struck the first 60 million examples of the 1996 toonie using German planchets it had purchased. These early coins are characterized by lines across their faces and darker tones.
Circulated, the first toonies are worth their face coin value. Uncirculated examples can reach $35 up to $540 near perfect conditions.
However, the record price at an auction for this coin was set in 2018, when a 1996 German Planchet Canadian 2-Dollar was sold for $332.02 at eBay.
Source: PCGS || 1996 German Planchet Canadian 2-Dollar
1987 Loon Canadian Dollar
In 1987, the Canadian Mint officially changed the design of the famous Canadian dollar coin, and over 200 million examples were minted. The Loon dollar, or loonie, displays the Northern bird on its reverse and is still featured on the one-dollar coins.
In Canada, circulated examples of the loonie's first year are generally worth their face value. However, uncirculated issues can be worth $17 up to $149, nearing perfect condition (prices in USD).
However, in 2012, Goldberg Auctioneers officially auctioned a 1987 Loon Canadian Dollar, a Proof coin graded PR60, for $426.
Source: PCGS || 1987 Loon Canadian Dollar
1922 Nickel 5 Cent Coin
After silver was removed from the five-cent coins, Canada replaced it with nickel. At the same time, the piece had a significant increase in diameter. The 1922 5-cent coin, now made from nickel, is a landmark in Canadian money.
This coin can be worth between 0.35 in circulated and $100 in uncirculated conditions. However, the auction record for an MS65 specimen of this coin is $1,500 in August of 2019.
Source: PCGS || 1922 Canadian Nickel.
The 1948 King George VI Dollar
Production of the Canadian Dollar was suspended in 1940 when Canada joined the Allied Forces to engage in World War II. The production of the 1948 Canadian Dollar returned midway through 1948, delayed due to the need to update the obverse inscription following India's independence in 1947.
Only 18,780 examples of the 1948 Dollars were made, including a small handful of Specimen strikes produced expressly for collectors.
Source: PCGS || The 1948 King George VI Dollar
The 1948 Canadian Dollars are highly valuable coins, primarily because of their low mintage—only 18,780 pieces were produced. According to PCGS, the latest auction price was $1,968.00 in 2022 for a coin graded MS61.
1858 20 Cent Coin
As mentioned above, Canada's first coins were minted in England in 1858. Compared to modern coins, these pieces had standard denominations, except for the 20-cent piece.
This coin was initially introduced because of the exchange value between the Spanish-American dollar and the Halifax shilling used in the colonies. Five local shillings were equivalent to 1 dollar.
Despite that, the population found it difficult to distinguish the 20-cent piece and the U.S quarter, given that American coins also circulated in Canada. The Canadian coin was discontinued and eventually replaced by the Canadian 25-cent piece. Nowadays, it is considered a historical item of specific monetary value.
Source: PCGS || 1858 Canadian 20 Cent Coin.
It is usually worth from $25 to $430 in circulated conditions. Uncirculated examples range from $850 up to $7,600.00
However, its auction record price would be set in 2020, when an MS64 coin was sold for $2,160.00 at Heritage Auctions.
1858 Silver Five Cent Coins
As previously mentioned, Canada's first 5-cent pieces also had silver in their compositions.
This 1858 issue had over 1.4 million examples minted in England, and it is one of the country's earliest decimal coinage issues. Minted during a period of transition from the colonial system to a unified Canadian currency, this coin reflects the evolving economic landscape of pre-Confederation Canada.
Source: PCGS || 1858 Canadian Nickel.
Although still somewhat rare, such a piece of history is usually worth circulated, from $6 to $160. Uncirculated examples range from $290 to $2,500. But the auction record was set in 2019, with the winning bid of $2,400.
1965 Queen Elizabeth II Large Beads 5 Cent
The 1965 mintage of the 5 Cent Canadian coins featured a lovely portrait of a young Queen Elizabeth II on the obverse, designed by Mary Gillick, and a beaver on the reverse. Beads encircle both designs.
The first dies used to mint these coins featured 119 smaller beads closer to the Queen's portrait, with the rear jewel on the tiara firmly attached. However, this motif proved too hard on the dies, and they were short-lived.
Throughout that mint year, the Mint adjusted the dies, resulting in different varieties: the original, now referred to as the "Small Beads" variety, the "Medium Beads," and the "Large Beads."
The Large Beads variety, represented below, has 138 larger beads closer to the rim. The rear jewel on the tiara appears weaker in early die states and often becomes completely detached in later stages of the condition, a characteristic that led to the term "Detached Jewel."
Source: PCGS || 1965 Queen Elizabeth II Large Beads 5 Cent
Collectors of the modern Canadian series highly covet this scarce variety. It becomes even more scarce in gem condition, with only seven examples graded by PCGS to date and just one specimen achieving the prestigious MS66 certification.
High-grade versions of these old coins are scarce and could be worth several thousand dollars.
In 2014, a coin-graded MS65 was sold for the record price of $4,994.00 at Heritage Auctions.
1889 Queen Victoria Quarter
Source: Coin and Canada || 1889 Queen Victoria Quarter
This Canadian silver quarter, minted during Queen Victoria's long reign (1837–1901), is remarkably well-preserved for a coin from the early 20th century, making it a standout addition to any vintage world coin collection. The 1889 quarter holds a special place among Canadian Victorian coinage, not only for its rarity but also for having the lowest mintage of any Victorian quarter, which was 66,340.
Finding examples in grades beyond the lower end of the scale (Good and Very Good) is exceptionally challenging. These extremely rare coins can command up to $17,800 graded MS64.
The 1969 Large Date Ten Cent
The Large Date is a rare variety within the 1969 Ten-Cent mintage. As the new year of 1969 arrived, the whole reverse of the 1968 cent coin was adjusted, and a new die was made to make the reverse elements, including the ship, the word CANADA, and the date style, look smaller.
However, early in the production of the 1969 ten cents, some dies from 1968 were mistakenly used. And since multiple coins are struck simultaneously by different machines, some coins with the Large Date variety were mixed with those featuring the Small Date variety, creating one of the most valuable Canadian coins. According to NGC, approximately 20 examples of this error are known.
Source: Coins and Canada || 10 cents 1969 Large Date
According to the NGC Price Guide, this coin can be worth $25,000.00 in uncirculated conditions.
1906 25C Small Rev Crown
Source: PCGS || 1906 25C Small Rev Crown
One of the most elusive treasures in the Canadian quarters' coin series, the 1906 Small Crown variety, has only gained widespread recognition in recent years. In 1906, the reverse design of the 25-cent coin was updated to enhance its appearance and durability. This redesign included enlarging the crown and reconfiguring the surrounding leaves.
However, a limited number of 1906 coins were struck using the outdated reverse dies, resulting in the Small Crown variety. These rare coins are seldom found in grades higher than VG (Very Good). Approximately 75% of the known examples are in VG or lower condition, with only a single piece ever certified in Mint State.
When they reach that level of conditions, they can be worth tens of thousands of dollars.
This rarity reached a remarkable price milestone on August 15, 2019, when a PCGS-graded MS62 example sold for $38,400 at a Heritage Auctions event.
1921 Silver 5-Cent Coin
Modern circulating coins are minted using steel, nickel, and copper. Yet, silver used to be the standard choice for coins such as the Canadian 5-cent coin or the U.S. silver dime. As time progressed and precious metals' troy ounce prices increased, the coin's precious metal content became worth well over its face value.
In 1921, Canadian legislation called for removing silver from the 5-cent coin and replacing it with nickel. As a result, the RCM melted most of the preexisting examples made that year using sterling silver. About 400 are believed to remain. This coin is considered The Prince of Canadian Coinage.
They are estimated to be worth $2,900 to $11,800 in circulated conditions. The last record price, however, from PCGS for a graded coin was in 2019, when it was sold for $50,400.00.