The value of a 1987 Canadian dollar coin depends on several factors, primarily its condition and whether it’s a standard circulation coin or a special edition.
Here’s a breakdown:
- Circulated 1987 Loonies (standard circulation coin): These are generally worth their face value, or one Canadian dollar.
- Uncirculated 1987 Loonies: These coins, especially those in high grades like MS64 and above, can be worth more than face value. For example, a 1987 Canada Dollar (Loonie) – Uncirculated 1st year of release (No Mint Mark) can be purchased for around $15.11 USD.
- Proof and special edition 1987 Canadian dollars: These coins were minted in smaller quantities and are intended for collectors, often commanding higher prices. For example:
– A 1987 Canada 400th Anniversary John Davis Proof Silver Dollar Coin might sell for $30.00.
– A 1987 First Canadian PROOF One Dollar Loonie Coin (UNC) might cost CA$16.00.
- Rarity: Coins with limited mintage or unique historical backgrounds often hold higher value.
- Demand: The popularity and interest in certain coins fluctuate, impacting how much buyers are willing to pay.
- Condition/Grade: Well-preserved coins with minimal wear are more desirable. Coin grading on a scale of 1 to 70 helps assess a coin’s condition and significantly influences its value.
- Metal Content: While 1987 loonies are made of bronze-plated nickel, older Canadian dollars contained silver, increasing their intrinsic melt value.
Note: A 1987 Canadian dollar is not worth a fortune, but special editions or high-grade uncirculated coins can be a valuable addition to a collection. If you’re unsure about your coin’s value, it’s best to consult with a reputable coin dealer or consider getting it professionally graded.
Is the 1987 loonie rare?
This 1987 Canadian 1 Dollar Loonie is a very scarce and sought-after coin, in optimum quality and exact condition. It is made of bronze plated nickel and has been circulated, adding to its unique character. The obverse features the iconic Common Loon River design, while the reverse showcases the Canadian Coat of Arms.
What is a 1987 Canadian dollar made of?
Great question! The coin is made of bronze and has been circulated. It has not been graded or certified, but is a valuable addition to any coin collection. It is a great piece of history and a beautiful coin to display. This is a rare Canada 1 Dollar Coin from 1987 featuring Queen Elizabeth II.