Rare Canadian Coins

Early Canadian Coins

Time, wear, and melting down when the metal becomes more valuable than the face value can turn any coins into rare coins. Early Canadian coins other than pennies were made of silver and most of these have accordingly been melted down.

During its early history, Canada primarily used British, American, and Spanish coins rather than having distinctly Canadian currency. The first Canadian coins were minted in 1858, when Queen Victoria ascended to the throne.

The first Canadian pennies were so unpopular, mostly due to their lighter weight, that the Mint actually sold them at a discount to get people to use them!

20th Century Coins

The first silver dollar coin was issued in an experimental edition in 1911. Very few were made and even fewer survive. These rare coins from Canada are worth around $1 million Canadian.

Gold coins were only available from 1912 to 1914 and these are rare Canadian coins and prized collectors items.

The first Canadian error coin of the 20th century was a 1902 nickel featuring the new king, Edward VII. It featured the St. Edward's Crown which he did not, in fact, use for his coronation. These are now prized among Canadian coin collectors.

In 1911, George V's new coinage did not include the abbreviation “Dei Gra” (by the grace of God) which caused so many popular objections that the coins were modified. As in the United States, the fifty cent coin is the least frequently minted so these so-called “Godless” fifty cent pieces are among the rarest Canadian coins.

After the death of George V in 1936, the Canadian Mint was waiting for new coin dies featuring George VI to arrive, but faced with a shortage of coins going into the new year, had to produce some. They modified the 1936 die with a small dot to indicate that it was actually printed in 1937, and minted just a handful, less than one hundred in the case of pennies and nickels.

After India and Pakistan achieved independence, the imperial title was removed from George VI's official coinage but again, the dies were late arriving in Canada, so the Mint resorted to the same tactic, this time adding a small maple leaf to indicate that the coin was marked 1947 but minted in 1948.

Sources for Rare Canadian Coins

Torex offers three coin shows through the year (summer, fall, and winter), located in Toronto. It also holds auctions in collaboration with Canadian coin dealers such as The Canadian Coinoisseur and Moore Numismatic Auctions. You can check schedules and dealer listings and preview the auction catalog at Torex's website.

The Canadian Numismatic Association has an annual convention featuring dealers and an auction. More information is available at their website.

The Royal Canadian Mint is the primary source for new collectible coins.

Specialized antique stores are a good source, and eBay shopping is a good way to buy and sell from fellow collectors as well as dealers. Of course, there is risk when you buy or sell on eBay, as there is with virtually any collectibles or antiques transaction.

Canadian Coin News, published biweekly, is the primary news and history magazine. It also has a list of recently stolen coins to help you keep from inadvertently purchasing stolen goods.