Canada’s dollar coins have a fascinating history, with many designs that go beyond their face value. While today’s Loonie is a staple of Canadian currency, older coins—especially those crafted in silver—have become valuable collector’s items. Some rare coins even fetch thousands of dollars at auction, making it well worth your time to examine your collection before spending them. Let’s dive into six of the most valuable Canadian dollar coins, the stories behind them, and tips to identify if you have a hidden treasure hidden in plain sight.
1. The 1911 George V Canadian Pattern Silver Dollar
1911 George V Canadian Pattern Silver Dollar
Value: $552,000 (sold in 2019)
Why It’s Special:
Known as the “Holy Grail” of Canadian coins, the 1911 pattern silver dollar is one of the rarest coins in existence. Only two examples of this coin are known to survive, making it virtually impossible to find.
- Design: Features King George V and the date “1911.”
- Historical Significance: This was the first silver dollar authorized under the 1910 Canadian Currency Act, but it never entered production.
- Hidden Treasure: The rarity and historical importance of this coin make it a true hidden treasure for collectors.
2. The 1947 George VI Canadian Silver Dollar
1947 George VI Canadian Silver Dollar
Value: $46,000 (sold in 2006)
Why It’s Special:
This coin is a prized collectible due to its rarity, particularly in mint condition.
- Design: Depicts King George VI and includes the date “1947.”
- Condition Matters: A well-preserved example saved by a mint employee fetched a significant sum at auction.
- Hidden Treasure: Its scarcity and historical value make it a hidden treasure for enthusiasts and investors alike.
3. The 1935 George V Specimen Canadian Dollar
1935 George V Specimen Canadian Dollar
Value: $29,900 (sold in 2010)
Why It’s Special:
This was Canada’s first circulating silver dollar and marked an important milestone in the nation’s coinage history.
- Design: Features King George V, whose reign ended in 1936.
- Specimen Coin: These high-relief coins were specially struck and are rare, adding to their allure
- Hidden Treasure: The high-relief design and historical significance make it a valuable hidden treasure for collectors.
4. The 1945 Canadian Dollar Coin
1945 Canadian Dollar Coin
Value: $26,400 (sold in 2019)
Why It’s Special:
With only about 38,000 coins minted, this dollar is scarce, especially in uncirculated condition.
- Design: Depicts King George VI.
- Rarity in Mint State: Coins with no signs of circulation command the highest prices.
- Hidden Treasure: The limited mintage adds to its appeal, making it a true hidden treasure for numismatists.
5. The 1938 George V Specimen Canadian Dollar
1938 George V Specimen Canadian Dollar
Value: $22,325 (sold in 2014)
Why It’s Special:
As a specimen coin, the 1938 George V dollar is rare even among other high-relief coins.
- Design: Features King George V with intricate detailing.
- Collector Appeal: Its scarcity keeps it in high demand among numismatists.
- Hidden Treasure: The rarity and craftsmanship make it a sought-after hidden treasure for coin collectors.
6. The 1948 George VI Specimen Canadian Dollar
1948 George VI Specimen Canadian Dollar
Value: $17,625 (sold in 2014)
Why It’s Special:
This specimen dollar is one of the hardest to find in pristine condition due to limited mintage and handling wear.
- Design: Depicts King George VI.
- Scarcity: Few were produced, and those that exist often show wear, making high-quality examples incredibly valuable.
- Hidden Treasure: The challenge of finding an unblemished specimen makes it a true hidden treasure for collectors.
Rare Canadian Dollar Coins Overview
| Coin | Year | Monarch | Value | Design Elements | Why It’s Special |
|---|---|---|---|---|---|
| 1911 George V | 1911 | King George V | $552,000 | Features King George V, first silver dollar design | Rare, only two known examples |
| 1947 George VI | 1947 | King George VI | $46,000 | Depicts King George VI | High demand for mint condition coins |
| 1935 George V | 1935 | King George V | $29,900 | High-relief coin, first circulating silver dollar | Significant milestone in Canadian history |
| 1945 | 1945 | King George VI | $26,400 | Depicts King George VI | Only 38,000 minted, highly scarce |
| 1938 George V | 1938 | King George V | $22,325 | High-relief specimen coin | Rare and in high demand |
| 1948 George VI | 1948 | King George VI | $17,625 | Depicts King George VI | Limited production, worn examples scarce |
Turn Your Loose Change Into a Fortune
Whether you’ve inherited a coin collection or stumbled upon a box of old currency, Canadian dollar coins can be worth more than their weight in silver—or gold. Take the time to inspect your coins carefully, and consider consulting a professional numismatist to evaluate any potential treasures.
You never know: that dusty old coin could be worth thousands!
FAQ’s
What makes Canadian dollar coins valuable?
Canadian dollar coins are valuable due to their rarity, historical significance, and metal content. Coins with low mintages, unique designs, and high-relief finishes tend to fetch the highest prices.
How can I tell if I have a rare Canadian dollar coin?
Look for coins minted before 1967, especially those made of silver. Check for specimen coins, uncirculated condition, and unique designs featuring monarchs like George V or George VI.
Where can I get rare Canadian dollar coins evaluated?
Consulting a professional numismatist or coin expert is the best way to evaluate rare Canadian dollar coins and determine their true value.