Canada’s one-dollar coin has had many different designs over the years, evolving from the silver dollars of the mid-20th century to the modern “Loonie.” Some of these coins are incredibly valuable, with rare examples fetching thousands of dollars in auctions.
If you’re lucky enough to have one, you might be holding onto a small fortune. Here’s a look at some of the most valuable Canadian dollar coins, and tips on how to spot valuable ones in your own collection.
1. 1911 George V Canadian Pattern Silver Dollar
The 1911 George V Canadian pattern silver dollar is one of the rarest and most valuable coins in Canadian history. Only two examples of this coin are known to exist, making it highly sought after by collectors. This coin’s story began with the 1910 Canadian Currency Act, but it never went into mass production.
Instead, only a few pattern coins were made as test pieces, which makes them incredibly rare. In 2019, one of these coins sold for a staggering $552,000 at auction.
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2. 1947 George VI Canadian Dollar
Condition plays a huge role in determining the value of any coin, and the 1947 George VI Canadian dollar is no exception. This silver dollar is especially valuable in mint condition, where the coin’s details remain sharp and clear.
For collectors, finding this coin in such pristine condition is a rare treasure. Back in 2006, a mint-state 1947 George VI dollar sold for $46,000, showing just how valuable these coins can be when well-preserved.
3. 1935 George V Specimen Dollar
The 1935 George V Canadian dollar was the first silver dollar released for general circulation. While circulating examples are valuable, specimens—coins that were specially made for collectors—are even more prized. A specimen coin from 1935 sold for $29,900 in 2010. With George V’s reign ending the following year, these coins are a valuable piece of Canadian history.
4. 1945 George VI Canadian Dollar
With only about 38,000 coins minted, the 1945 George VI Canadian dollar is among the rarer Canadian dollar coins. The scarcity of this coin, especially in mint condition, drives its value. One mint-state example of this coin sold for $26,400 in 2019. This makes it a highly prized piece for collectors who are willing to pay a premium for its rarity and condition.
5. 1938 George V Specimen Dollar
Another rare specimen coin, the 1938 George V dollar, is a favorite among collectors due to its scarcity. These coins were not made for circulation and were instead struck with greater care for presentation purposes. A specimen example from 1938 fetched $22,325 at auction in 2014, reflecting the high demand for rare, well-preserved coins.
6. 1948 George V Specimen Dollar
The 1948 George V specimen dollar is another great example of how condition and rarity can drive up a coin’s value. With limited minting and few surviving examples, this coin is highly sought after. A 1948 specimen dollar sold for $17,625 at auction in 2014, cementing its place among valuable Canadian coins.
How to Identify Valuable Canadian Dollar Coins
If you’ve got a stash of Canadian coins or have inherited a collection, it’s worth taking a close look to see if you have a hidden gem. Here are some tips to help you determine if your coins might be valuable:
- Look for Silver Content: Canadian silver dollars minted between 1935 and 1967 contain valuable precious metal, making them worth more than face value.
- Check for Specimen Coins: These coins were made for collectors and often have a higher relief than regular circulating coins. They’re not easy to find, but their value can be significant.
- Condition is Key: Coins that have never been circulated are worth more than those that show wear and tear. Even newer coins, like the Loonie, can be valuable if they’re in mint condition.
- Watch the Monarch: Coins featuring the first or last appearance of a monarch during their reign can sometimes be worth more due to their historical significance.
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Taking a Closer Look at Your Canadian Dollar Coins
If you think you might have valuable Canadian dollar coins, it’s worth taking the time to examine them closely. Many coins are worth much more than their face value, especially if they are rare, in good condition, or have a high silver content.