Most individuals use one-dollar coins without hesitation. In Canada, these coins are common and are often just considered pocket change. Did you know that the value of some Canadian dollar coins can reach hundreds or even thousands of dollars? Collectors around the world prize some of these coins because they are rare, made of silver, or in perfect condition.
In this article, we’ll look at 6 valuable Canadian dollar coins that are worth far more than just a buck. If you happen to have one of these coins lying around, you might be holding onto a small fortune!
What Makes Canadian Dollar Coins Valuable?
Every Canadian dollar coin is worth at least its face value—$1 CAD. However, certain coins may have a higher value due to rarity, historical significance, or unique features. Here’s what can make them valuable:
- Rare designs
- Limited mintage (small number made)
- Silver content (for coins made before 1968)
- Special “specimen” or “proof” versions
- Coins in perfect or near-perfect condition
Let’s now explore 6 amazing examples of valuable Canadian dollar coins.
1. 1911 George V Pattern Silver Dollar—Worth Over $550,000
This coin is one of the rarest in Canada. They never released it for public use. Only two silver versions are known to exist. These were test coins made before Canada officially launched silver dollars.
The coin features King George V on its front and bears the date 1911. Because it’s so rare, one of these coins sold for $552,000 at auction in 2019.
Tip: If you ever see a 1911 Canadian silver dollar, don’t use it in a vending machine!
2. 1947 George VI Dollar—Worth $46,000
This coin features King George VI and is especially valuable in mint condition—meaning it has never been used.
In 2006, this rare, well-struck silver coin was popular among collectors.
3. 1935 George V Specimen Dollar—Sold for $29,900
The first-ever Canadian dollar Made from silver, it features King George V. A silver sculpture depicts King George V.
There are some special “specimen” versions of this coin that were not meant for everyday use. They have a shiny surface and better detail than normal coins. One such coin sold for $29,900 in 2010.
4. 1945 George VI Silver Dollar—Value: $26,400
There were only 38,000 of these coins ever produced. That’s not a lot, which makes them pretty rare.
The 1945 silver dollar shows King George VI and is valuable, especially if it has no scratches or wear. One perfect version sold for $26,400 in 2019.
5. 1938 George V Specimen Dollar—Sold for $22,325
Despite their production, specimen coins remain elusive today. The 1938 George V specimen coin is another valuable piece.
One of these shiny, well-detailed coins sold for $22,325 at an auction in 2014.
6. 1948 George V Specimen Dollar—Worth $17,625
This coin is also a specimen, and collectors really want it because not many were made. Furthermore, most of the coins that do exist have some wear or marks on them.
A clean, well-preserved version sold for $17,625 in 2014.
What About Modern Canadian Dollar Coins?
The “Loonie” refers to today’s regular dollar coin, which features a loon bird. It was first introduced in 1987.
Most Loonies are just worth one dollar. But some rare versions, like a mint 1987 Loonie, can be worth up to $30.
How to Spot a Valuable Canadian Dollar Coin
If you have some old coins at home or got some from a family member, here are a few easy tips to check if silver made up the majority of coins produced between 1935 and 1967.
In 1935 and 1967, they were made of silver. These are usually worth more than just one dollar, due to their silver content.
Check the Condition
Coins that look new or shiny and have no scratches or dents are worth more. Collectors call these “mint state” coins.
Find Specimen or Proof Coins
Specimen coins are special coins made for collectors. They have very fine details and are not used as everyday money.
Notice the King or Queen
If it is the first or last coin of a monarch’s reign, it can be more valuable. For instance, the final coin featuring King George V or the initial coin featuring Queen Elizabeth II can have a higher value.
Conclusion
Canadian dollar coins can be more than just spare change. Some of them are rare treasures that are worth thousands of dollars. Knowing what to look for—like silver content, specimen quality, and rare mint years—can help you identify coins that collectors are willing to pay big money for.
If you have some old coins lying around, take a closer look. Who knows? You might be sitting on a coin worth much more than a dollar. Whether you’re a beginner collector or just curious, learning about these valuable coins is a fascinating way to explore Canada’s rich history.
FAQ’s
How can I tell if my Canadian dollar coin is valuable?
Look at the year, condition, and if it’s silver. Coins from 1935–1967, in mint condition or specimen quality, are usually worth more.
Are modern Loonies worth collecting?
Some rare Loonies, like the 1987 first issue in mint condition, can be worth up to $30. Most others are only worth face value.
Where can I sell valuable Canadian coins?
You can sell them at coin auctions, to coin dealers, or online on websites like eBay or Heritage Auctions.
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