The term “Canada dollar coin value” can refer to a few different things:
- Face value of a circulating dollar coin (Loonie): A standard Canadian one-dollar coin, commonly called a “Loonie”, is worth 1 Canadian dollar. This is its face value.
- Exchange rate of the Canadian dollar (CAD) against other currencies: Currently, 1 Canadian dollar is worth approximately $0.72590 USD. This value fluctuates constantly with the market.
- Collector value of certain dollar coins: Some Canadian dollar coins can be worth significantly more than their face value to collectors. This is particularly true for older silver dollars and some commemorative editions or coins with minting errors.
The one-dollar coin is widely known as the “Loonie” because of the image of a common loon on its reverse side. In 1996, the Canadian government also introduced a two-dollar coin, nicknamed the “Toonie”, featuring a polar bear on its reverse side. The Canadian Mint trademarked both nicknames in 2006.
- Some early Loonies, like the first issue from 1987, can be worth up to $30 in mint condition.
- Canadian silver dollars minted between 1935 and 1967 are made of 80% silver and 20% copper. Their melt value is just under $20, but this can vary depending on the market price of silver.
- Rare silver dollars, like the 1948 Canadian silver dollar with a “Maple Leaf” design, can be worth thousands to tens of thousands of dollars due to their low mintage and rarity.
- [According to Greysheet] , the collector value for Canadian Silver Dollars ranges from $26.00 to $26,500.00 depending on the specific year and condition.
- Some Toonies can also be quite valuable to collectors. For example, some 1996 Toonies were defective and could separate if struck hard or frozen. There are also rare variants, like the 1999 Nunavut commemorative Toonie, which are sought after by collectors.
In short, while the typical Canadian dollar coin (Loonie) has a face value of one dollar, its real-world value can be higher if it’s a rare or collectible piece or if it’s being exchanged for another currency.
Which $1 coin is rare?
Among them, the 1884 and 1885 Trade Dollar coins are exceptionally rare, with only ten and five known to exist, respectively. In fact, in 2006, one 1884 Trade Dollar was auctioned for a staggering $3.3 million! But even more common dates of these dollar coins can be worth a lot of money, especially in higher grades.
Are Canadian coins worth money?
From my experience, Even though their face value is only one cent, some of the rarest Canadian pennies can be worth hundreds or thousands of dollars.