Unique Canadian Coins: 5-Canadian Coins Worth Cash
Canadian coins can attract the interest of coin collectors and buyers. After all, the first issues were published about two centuries ago. Not to mention that some coins are worth a lot more than others because of characteristics like rarity, condition, metal composition, or errors in striking.
Don’t be scared to go into your wallet for some of these examples. Look no further if you’re trying to make a few dollars on a well-preserved coin, or if you’re looking for an interesting item to start a collection, or if you’re drawn to some of the world’s rarest coins by Canadian coin buyers. This article will guide you through the process of selecting the most valuable coin for your collection.
What worth does a Canadian coin hold?
To begin with, when establishing the value of a coin, a variety of elements are considered. The scarcity of a particular Canadian coin is equal to its rarity. If it means adding a rare variant to their collection, collectors and trusted old coin buyers are willing to spend well beyond the coin’s current price.
Other elements, though, can influence how much a coin is worth. The year of issue, the condition of the coin, whether it contains silver, and, especially, mint faults such as doubled dies or double strikes, are all factors to consider.
#1. Loon Canadian Dollar, 1987
Over 200 million replicas of the famous Canadian dollar coin were minted when Canada officially changed the design in 1987. The northern bird is pictured on the reverse of the loon dollar, or loonie, which is still used on 1-dollar coins today.
In Canada, circulated samples of the first year of the loonie are often worth face value. Uncirculated issues, on the other hand, can be worth anywhere from $17 to $149 in fine condition (prices in USD).
#2. 1996 German Planchet Canadian 2-Dollar Coin
In 1996, Canada’s 2-dollar coin was released. This coin was given the nickname “toonie” by a method similar to that of the loonie. It’s worth mentioning that the Royal Canadian Mint purchased German planchets for the initial 60 million copies of the 1996 toonie. These early coins have darker tones and have lines across their faces.
The first toonies have been circulated and are worth their face value. Uncirculated examples can sell for anything from $35 to $540 in near-perfect condition.
# 3. 2012 One Cent Coin
The Canadian cent, also known as the steel and copper quarter, is one of the country’s oldest currency types, having been established in 1858. However, in 2012, Canada stopped producing the one-cent currency and had the Royal Canadian Mint melt the coins in circulation.
As a result, preserved copies of the 2012 Canadian pennies can be sold for more than a penny’s worth, unironically, due to their numismatic value. In excellent grade, an uncirculated coin can be worth anywhere from $0.04 to $33, with additional dollars if it’s a non-magnetic variation.
#4. 1921 Silver Five Cent Coin
Steel, nickel, and copper are commonly used in the production of modern coins. Silver, on the other hand, used to be a popular choice for coins like the Canadian 5-cent coin and the US silver dime. As precious metals’ troy ounce prices went up in value, the metal content of silver coins increased in value, making them worth far more than their face value.
Canada passed legislation in 1921 to eliminate silver from the 5-cent coin and replace it with nickel. As a result, the RCM melted the majority of the silver-based examples manufactured that year. Only about 400 people are thought to be left. It is known as Canada’s Prince of Coinage.
They’re worth anywhere from $2900 to $11800 if they’re circulated. Uncirculated copies have sold for thousands of dollars in auctions.
#5. 1922 Nickel 5 Cent Coin
Following the loss of silver from the 5-cent coin, Canada adopted nickel as the replacement metal. At the same time, the piece’s diameter grew significantly. The 1922 nickel, which is now made of nickel, represents a turning point in Canadian currency.
There are two types of coins: those near the rim and those far from the rim. Circulated near rim examples are worth $0.40 to $26, while uncirculated examples are worth $35 to $650. The far rim issues are more valuable, with circulated pieces costing $0.50 to $44 and uncirculated pieces for $94 to $1340.
What is the best way to sell coins?
Collectors can sell their items to the top old coin buyers, such as SD Bullion, numismatic forums, and other Canadian coin buyer websites. You could also want to have your belongings appraised by a Canadian coin appraiser. Experts in the coin industry can help you follow the necessary procedures to ensure a secure sale.
Some coins are far rarer than others. Nonetheless, you never know what you might find in your pocket money. In any case, learning about such detailed pieces of history may be a satisfying feeling in and of itself.
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