10 of the Most Valuable Canadian Coins Worth Money

Jan 7th 2023

Canadian Coins Worth Money

Extremely rare coins make headlines for their high-dollar prices at Heritage Auctions, but they can be hard for most coin collectors to obtain. The good news is that there are plenty of numismaticcoins worth more than face value due to their historical significance.

If you're building a collection of coins from around the world, keep a keen eye out for unique Canadian coins. Some of the most valuable Canadian coins feature a minor mint error or were struck by accident. There could be valuable Canadian coins that were produced in short runs, waiting to be found in everyday pocket change.

10 Coins From Canada To Add to Your Coin Collection

Many professional coin collectors have a great fondness for rare Canadian coins. Even before Canada became an independent country during the negotiations of the Canadian Confederation of 1867, this coinage was being used in the British North American colonies.

Most provincial governments were mainly using the British pound as their currency after the fall of New France in 1759. However, British coins were in short supply: Many merchants and banks were forced to accept gold and silver coins from Spain, Portugal, France, Germany, the Netherlands, and the United States.

It was in 1858 that the Province of Canada received London’s approval to mint Canadian coins in England. The other British North American colonies decided to follow suit. Nova Scotia, New Brunswick, and Newfoundland issued official provincial coinage in 1861, 1864, and 1865. New coins were issued in Ottawa after the Dominion of Canada was created in 1867.

The first known examples of Canadian coinage were issued in denominations of 1, 5, 10, and 20 cents. Just like most other valuable and rare coins, the value of Canadian coins can vary depending on factors such as supply and demand, quality, rarity, and finish.

In this article, we’ll go over the characteristics of the ten most valuable Canadian coins in the history of legal tender.

1911 Canadian Silver Dollar

The 1911 Canadian Silver Dollar is considered one of the great rarities of Canadian coinage. It held the record for the most valuable Canadian coin for several years.

There are only two known examples of the Canadian Silver Dollar. One of them is housed at the Bank of Canada’s National Currency Collection in Ottawa. It’s been on a long-term loan from the Royal Canadian Mint as a gesture of goodwill.

The other Canadian 1911 dollar coin was sold to a private collector for $552,000 USD in 2019. Previously, the coin had sold for $1,066,000.

1936 Dot 1 Cent Coin (Canadian Penny)

The 1936 “dot” coins are some of the most sought-after and collectible Canadian coins. The historical significance of these rare coins stems from when George VI ascended the throne after King Edward VIII’s sudden abdication in late 1936.

That event created an issue for the Royal Canadian Mint (RCM) because they didn’t have enough time to make dies with the new King’s effigy for the production of the 1937 coinage. Instead, the Mint produced a small number of 1936 coins with a very small raised “dot” just below the date to indicate they were struck in 1937.

Only three denominations were ever struck with the “dot” symbol: 25 cents, 10 cents, and 1-cent pieces. The 1936 One Cent Dot Coin is the rarest of them all. There are only three known examples in mint state. One of these rare coins sold at an auction in 2010 for over $400,000.

1936 Dot 10-Cent Coin

The 1936 10-cent “Dot” Coin resulted from the same mintage problems and coin shortages caused by the King renouncing his throne. However, on the 10-cent and 25-cent coins, the tiny dot appears on the reverse under the bow on the wreath design rather than below the date.

Despite the critical coin shortages, it appears only the 25-cent “Dot” coins were put into circulation; therefore, the 1-cent and 10-cent pieces are very rare. One example of the 10-cent “Dot” coin sold at an auction in 2010 for over $184,000.

1969 Large Date 10-Cent Piece

The “Large Date” 1969 10-cent piece is a seldom-seen, rare coin, with less than 20 known examples in existence. Some numismatists believe there are still 20 to 30 in circulation today.

These error coins came about because there was a malfunction in the matrices when the 1969 10-cent pieces were being made. With multiple coins being struck at the same time by different machines, some “large date” coins mix in with the “small date” variety.

High-grade versions of this coin can fetch a notable sum; one sold in 1982 for $17,500. These rare and valuable coins are made of nickel, are about the same size as an American dime, and feature Queen Elizabeth II on the obverse.

1916 Royal Canadian Mint Gold Sovereign

The 1916 Canadian Gold Sovereign is an example of the Gold Sovereign and is coveted by many bullion investors and coin collectors from all over. You’ll often hear Sovereigns referred to as Sovs at coin fairs.

Sovereigns have been minted in several different countries, such as Britain, Australia, and South Africa. The 1916 Gold Sovereign fromCanada was minted at The Canadian Mint in Ottawa.

The obverse design is the head of King George V, and the reverse is most often St. George and the Dragon (however, other designs have been used). Non-British versions of the gold coin have a small mint mark just above the date.

1921 50-Cent Piece

The 1921 Canadian 50-cent piece has been dubbed the “King of Canadian Coins” due to the extreme rarity in any grade.

Initially, 206,398 coins were minted, but there was very little demand at the time. When demand for the denomination picked up at the turn of 1930, the mintmaster decided to melt the 1920 and 1921 population of 50 cent coins and recoin the silver content into 1929 issues.

It’s believed that only 75 pieces dated 1921 were spared from the melting pot. Canadian 50-cent coins have varied widely in demand since their introduction in 1870, and they’re seldom seen in circulation today.

1921 5-Cent Coin

The 1921 5-cent coin is another rare piece due to minting logistics. There are less than 400 known examples of these silver coins.

In 1921, the Royal Canadian Mint wanted to introduce a new 5-cent piece made of nickel for the 1922 coinage. To prepare for the launch, the Mint melted down its entire inventory of 5-cent coins, almost all of them being dated 1921.

All surviving examples are likely from specimen sets and business strikes sold to visitors at the Mint in 1921. Depending on the grade, these coins can be worth anywhere from $4,000 to $100,000. Some are more affordable than others.

1948 Canadian Silver Dollar

Of all the Canadian silver dollars minted from 1935 to 1967, the 1948 King George VI Dollar reigns supreme in terms of rarity and value.

Aside from the date of mintage, the 1948 Canadian Silver Dollar may appear identical to other King George VI Dollars. Still, there was one tiny change that affected this batch of silver dollars.

When India gained its independence in 1947, it became an issue that the obverse of Canadian coins featured the reigning monarch’s name and royal title, which included a Latin inscription for “emperor of India.”

The designation needed to be removed from the coins, but the Royal Canadian Mint didn’t have time to make new dies right away, so production of 1947-dated coinage continued into 1948, with the addition of a tiny maple leaf by the date.

18,780 known Canada Silver Dollars of this type were produced, but only a few survived. Even well-circulated coins are highly scarce and sell at auctions between $1,000 and $20,000, depending on grade.

1947 Maple Leaf Silver Dollar

The 1947 Maple LeafSilver Dollar is valuable for the same reason as the 1948 Canadian silver dollar. As the Mint waited for new dies to strike the 1948 coins, they used the existing 1947 dies to fulfill demand.

Again, they placed a tiny maple leaf next to the date on the obverse to signify they were struck in 1948. There were 21,135 known examples minted, but they’re a very rare silver coin, with one selling for $51,000 CAD at an auction in 2006.

1906 Small Crown 25-Cent Piece

The 1906 Small Crown Canada 25 cents is another valuable coin due to its rarity.

The reverse design was modified in 1906 to improve the look and die life of the issue. The imperial crown was made larger and stronger, most notably with the Maltese Cross on top. There is a fold in the velvet lining just below the jeweled arch that is not present on the small crown variety.

A small number of 1906 25-cent pieces were produced using the old dies, but these small crown varieties are very rare. Only one piece has ever been certified in Mint State.